Long Term Incentive Schemes

   
The deferred bonus scheme approved for the 2009-2011 three-year period provides for the award of a basic monetary bonus to be paid after three years from grant according to a variable amount equal to a percentage ranging from 0 to 170% subject to achievement of a preset level of profitability in terms of EBITDA achieved in the reference three-year period as approved by the Board of Directors.  

The recipient or his/her heirs will preserve right to participate in this scheme in definite measure with reference  to the time period which elapses between grant and the possible occurrence of any of the following events: i) termination of the employment contract by mutual consent; ii) death of the recipient; iii) loss of control by Eni SpA on the subsidiary where the recipient is employed; iv) divestment to a non-controlled entity of the subsidiary or the business where the recipient is employed. In case of unilateral termination of the employment contract, right to the incentive expires. The following table sets out the basic bonus awarded in the year 2010 to the CEO and to the Divisional Chief Operating Officers, and the total amount awarded to the Company's managers with strategic responsibilities.

(Euro)

(a) In charge until April 5, 2010.
(b) Position effective April 6, 2010.
(c) No. 9 managers

  
Eni Board of Directors approved a new long-term monetary incentive scheme addressed to critical managerial resources in order to support achievement of better returns than those of the Company's main competitors over the long-term. Managers involved in this scheme are in charge with positions strictly linked to the Company' results or otherwise of strategic interest to the Company. The scheme was intended to replace a stock-based compensation plan that was discontinued in 2009.

This plan provides for award of a base incentive to be paid after a vesting period of three years. The amount that will be actually paid in a percentage ranging from 0 to 130% of the base amount, is subject to achievement of a performance parameter represented by a measure of Adjusted Net Profit + Depletion, Depreciation & Amortization (DD&A) recorded in the 2010-2012 three-year period as benchmarked to the performance achieved by a panel of the largest international oil companies for market capitalization. The recipient or his/her heirs will preserve right to participate in this scheme in definite measure with reference  to the time period which elapses between grant and the possible occurrence of any of the following events: i) termination of the employment contract by mutual consent; ii) death of the recipient; iii) loss of control by Eni SpA on the subsidiary where the recipient is employed; iv) divestment to a non-controlled entity of the subsidiary or the business where the recipient is employed. In case of unilateral termination of the employment contract, right to the incentive expires. A similar scheme was approved for the CEO and General Manager. In case of termination of his employment contract before the end of the vesting period, the incentive will still be paid when it vests on the basis of the assessment of the performance achieved in the reference three-year period. The following table sets out the bonuses awarded in 2010 to the CEO, the Divisional Chief Operating Officers, and the total amount awarded to the Company's managers with strategic responsibilities.   

(Euro)

(a) In charge until April 5, 2010.
(b) Position effective April 6, 2010.
(c) No. 9 managers
   

   
Pursuant to Article 78 of Consob Decision No. 11971 of May 14, 1999, and to its subsequent modifications, the following table sets out the stock options awarded to the CEO, the Chief Operating Officers and to other managers with strategic responsibilities, with reference to the existent stock-based compensation schemes, the last one adopted in 2008.

The table shows also stock options of Directors who held a position in 2010 for a fraction of the year. The rights to purchase shares (stock option) of Eni or its subsidiaries are exercisable after three years from the date of assignment and awarded.
 

(a) No. 9 managers.
(b) Due to the underperformance of the Eni share in the three-year vesting periodo 2008-2010, 80,500 options expired in 2010 with a strike price of €27.451 which were granted to the CEO in 2007 as integration to the monetary incentive for that year.
(c) In charge until April 5, 2010.
(d) In charge from April 6, 2010.
(e) Options on Snam Rete Gas shares: granted by the company to Domenico Dispenza who held the position of Chairman of Snam Rete Gas  until December 23, 2005.
(f) Options on Saipem shares: granted by the  company to Angelo Caridi who held the position of CEO of Snamprogetti until August 2, 2007.
(g) Options on Saipem shares.
 

	Stock option plan 2006-2008: 2008 Grant	[0.03 Mb]
	Stock option plan 2006-2008	[0.06 Mb]
	Stock option plan 2002-2005	[0.06 Mb]