CAL DIVE INTERNATIONAL, INC.
ANNUAL BONUS PLAN
This Cal Dive International, Inc. Annual Bonus Plan (the “Plan”) is adopted by Cal Dive
International, Inc., a Delaware corporation (the “Company”). The terms of the Plan have been
approved by the Company’s Compensation Committee of the Board of Directors (the “Compensation
Committee”) and are as follows:
The Plan is designed to increase stockholder value through effective use of performance-based
bonus awards, by providing key employees with additional incentives through the grant of cash awards
based on the performance of the Company and the individual employee.
The effective date of this Plan is January 1, 2008. The Plan will remain in effect for successive
fiscal years beginning on January 1, 2008 (each, a “Plan Year”), until terminated by the Compensation
The participants in this Plan (the “Participants”) shall be those employees of the Company who
have been selected by the CEO. To be eligible to participate in the Plan, employees must (a) have been
full-time employees with the Company or any of its subsidiaries for at least three months of the Plan
Year and (b) remain actively employed on a full-time basis through the payment date for such Plan Year
(usually March 15 of the following calendar year). Directors who are not employees of the Company
shall not be eligible to participate in the Plan.
IV. Change in Eligibility Status
In making decisions regarding the selection of Participants, the CEO may consider any factors
that he or she may consider relevant. However, the following guidelines set forth the general parameters
governing eligibility based on the occurrence of the events described below:
New hire, Transfer, Promotion . An employee who is hired, transferred or promoted
after March 1 of the Plan Year may participate in the Plan on a pro rata basis as of the
date the employee was hired, transferred or promoted. An employee who is hired,