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Transocean execs giving up safety bonuses

April 6, 2011 12:00:00 AM PDT
Executives at Transocean, the offshore drilling contractor at the center of last year's Gulf oil spill, are donating bonuses they got for the company's safety record last year.

The bonuses are worth more than $250,000 dollars and will go to a fund for the victims' families.

The company justified the bonuses by calling 2010 an "exemplary" year for safety.

That's despite the oil rig explosion a year ago that killed 11 workers and spilled millions of gallons of oil in the Gulf of Mexico.

The company disclosed the bonuses in a regulatory filing a few days ago, which set off intense criticism.

The company's CEO said it was never the executives' intent to diminish the effect the tragedy had on the victims.