2004 Bonus Plan
EX-10.EE 6 h23194exv10wee.htm 2004 BONUS PLAN exv10wee
EXHIBIT 10ee
ROWAN COMPANIES, INC.
2004 BONUS PLAN
Eligibility | Executive and other officers, managers and certain key employees (approximately 75 employees), arranged in 6 Tiers generally by salary and/or responsibility level | |
Measurement Criteria | Drilling EBITDA, defined as GAAP-based EBITDA from Drilling segment operations, relative to Budget | |
Bonus Target | Bonus Target varies for each of 6 Tiers, with equal percentage for each member of a Tier: |
| Tier I — 75% of Base Pay Tier II — 55% Tier III — 40% | Tier IV — 25% Tier V — 15% Tier VI — 10% |
Offset | Any Bonus Award is offset by Profit Sharing Award (thus, Bonus Target is maximum total award under both plans) |
[Information omitted regarding target levels with respect to specific quantitative or qualitative performance related-factors, or factors or criteria involving confidential commercial or business information, the disclosure of which would have an adverse effect on the registrant.]
