Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 150

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 6
Chunk 150
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 presentations to, and communications with, shareholders, financial analysts, and potential investors and oversees the establishment and maintenance of the Company’s relations with investment banks and financial institutions, as well as the development and expansion of the Company’s business, including the evaluation of strategic growth opportunities.

Operational, Safety and Environmental Committee

The current members of the Operational, Safety and Environmental Committee are Messrs. Jolliffe, Mitropoulos Papageorgiou and Dr. Patrinos. Mr. Mitropoulos is Chairman of the committee. The primary role of the OSE Committee is to draw the attention of the Board and the Company’s management to issues of concern regarding the safety of crew and vessels and the impact of the maritime industry on the environment, to provide an update on related legislation and technological innovations, and more specifically highlight areas in which the Company itself may play a more active role in being in the forefront of adopting operational procedures and technologies that will ensure maximum safety for crew and vessels and contribute to a better environment.

Board Compensation

We pay no cash compensation to our directors who are executive officers. For the year ended December 31, 2024, the aggregate cash compensation of all of the members of the Board was $685,000 per the following annual fee schedule, which was approved by the shareholders of the Company on June 14, 2024:

  Service on the Board—$60,000  

  Service on the Audit Committee—$20,000  

  Service on the Business Development and Capital Markets Committee—$10,000  

  Service on the Operational, Safety and Environmental Committee—$10,000  

  Service as Chairman of the Corporate Governance, Nominating and Compensation Committee—$10,000  

  Service as Chairman of the Operational, Safety and Environmental Committee—$10,000  

  Service as Chairman of the Audit Committee—$30,000  

  Service as Chairman of the Business Development and Capital Markets Committee—$30,000  

  Service as Chairman of the Board—$40,000  

No fees are paid for service, other than as Chairman, on the Corporate Governance and Nominating and Compensation Committee.

We do not provide benefits for directors upon termination of their service with us.

Management Company

Tsakos Energy Management, under its management agreement with us, provides overall executive and commercial management of our affairs in exchange for a monthly management fee. See “ Management and Other Fees” in Item 7 for more information on the management agreement and the management fees we paid for the fiscal year