Compensation Committee

Annual Compensation & Incentive Award Plans

The Compensation Committee is responsible for recommending policies and programs that govern the Company’s annual compensation and incentive award plans.

Members: Mark Leonard (Committee Chair), Torstein Sannes and Wenche Agerup

The Compensation Committee shall consist of three independent directors.

The Committee shall meet as necessary to review and/or act on the following items:

  • Compensation for the chief executive officer, executive level officers of TGS;
  • Appropriate performance targets, participation, and level of awards for incentive award plans;
  • Administration of compensation plans and compensation for executives at specified salary grade levels (not included in a. above);
  • Review compensation benchmarking with industry peers and philosophy for TGS compensation;
  • The Company’s various retirement, pension and other benefit plans worldwide;
  • Programs for attracting, retaining, and promoting executives and developing future senior management;
  • Development of a process for Board evaluation of the chief executive officer and other corporate officers including clear linkage of executive officer compensation to achievement of performance targets.

The Compensation Committee shall report to the full Board and the Board shall decide upon proposals suggested by the Committee.