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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

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FORM 8-K

 

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CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported): January 18, 2006

 

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SCHLUMBERGER N.V. (SCHLUMBERGER LIMITED)

(Exact name of registrant as specified in its charter)

 

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Netherlands Antilles		1-4601		52-0684746
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

153 East 53^rd Street, 57^th Floor New York, New York 10022-4624

42, rue Saint-Dominique, Paris, France 75007

Parkstraat 83, The Hague, The Netherlands 2514 JG

(Addresses of principal executive offices and zip or postal codes)

 

Registrant’s telephone number in the United States, including area code: (212) 350-9400

 

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

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Item 1.01 Entry into a Material Definitive Agreement.

 

On January 18, 2006, the Compensation Committee of the Board of Directors of Schlumberger Limited (the “Company”) approved the following annual salaries for 2006, cash bonuses (to be paid in 2006 for performance in 2005) and option grants for each of the Company’s named executive officers:

 

Name and Position		Annual Salary for 2006			Cash Bonus for 2005			Number of Shares Subject to Options
A. Gould (1)         Chairman and Chief Executive Officer		$	2,500,000		$	2,175,000		400,000
C. Sbiti (2)         Executive Vice President		€	600,000		€	725,000		130,000
J.-M. Perraud         Executive Vice President and Chief Financial Officer		$	600,000		$	882,000		40,000
Dalton Boutte         Executive Vice President		£	285,000		£	313,500		70,000
Satish Pai         Vice President Oilfield Technologies		€	440,000		€	486,200		40,000

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(1)	Mr. Gould’s salary for 2006 has been increased from $1,500,000 in 2005.

(2)	Mr. Sbiti’s salary for 2006 has been increased from €500,000 in 2005.

 

The options have an exercise price of $108.47 per share (the fair market value of the Company’s common stock on the date of grant) and expire on the tenth anniversary of the date of grant.

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

Date: January 24, 2006