SEC Contract Filing

Filing Date: 2018-03-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>a1042018annualcashbonussum.htm
<DESCRIPTION>EXHIBIT 10.4 2018 ANNUAL CASH BONUS SUMMARY
<TEXT>
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 <title>Exhibit</title>
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<div><a name="sDF93BD9D119C0D21113DDEA1367B8A32"></a></div><div><div style="line-height:120%;padding-bottom:0px;text-align:right;padding-left:30px;font-size:14pt;"><font style="font-family:Arial;font-size:14pt;"><br></font></div><div style="line-height:120%;padding-bottom:0px;text-align:right;padding-left:30px;font-size:14pt;"><font style="font-family:Arial;font-size:14pt;"><br></font></div><div style="line-height:120%;padding-bottom:14px;text-align:right;padding-left:30px;font-size:14pt;"><font style="font-family:Arial;font-size:14pt;font-weight:bold;">Exhibit 10.4</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:0px;text-align:center;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">OCEANEERING INTERNATIONAL, INC.</font></div><div style="line-height:120%;padding-bottom:14px;text-align:center;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">2018 ANNUAL CASH BONUS AWARD PROGRAM SUMMARY</font></div><div style="line-height:120%;padding-bottom:14px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">The Compensation Committee (the &#8220;Committee&#8221;) of the Board of Directors of Oceaneering International, Inc. (&#8220;Oceaneering&#8221;) approved the 2018 Annual Cash Bonus Award Program (the&#160;&#8220;Program&#8221;) for executive officers of Oceaneering, and for other participating employees of Oceaneering or its subsidiaries (collectively, the &#8220;Company&#8221;) who are selected by the Committee, each under the Second Amended and Restated 2010 Incentive Plan of the Company. Under the Program, cash bonuses are based on the level of achievement of the following, as compared to planned results approved by the Committee:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:14px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:48px;"><font style="font-family:Arial;font-size:11pt;">(a)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">with respect to Oceaneering executive officer and other Corporate senior management participants:</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:101px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:70px;"><font style="font-family:Arial;font-size:11pt;">(i)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">Company consolidated earnings before interest, taxes, depreciation and amortization for the year ending December 31, 2018 (&#8220;Company EBITDA&#8221;) (90% of award); and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:14px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:101px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:70px;"><font style="font-family:Arial;font-size:11pt;">(ii)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">HSE goals for the Company (10% of award);</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:14px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:48px;"><font style="font-family:Arial;font-size:11pt;">(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">with respect to other Corporate and Shared Services participants: </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:101px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:70px;"><font style="font-family:Arial;font-size:11pt;">(i)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">Company EBITDA (75% of award); </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:101px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:70px;"><font style="font-family:Arial;font-size:11pt;">(ii)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">HSE goals for the Company (5% of award); </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:101px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:70px;"><font style="font-family:Arial;font-s