Clarksons chief executive Andi Case has again handed back part of his bonus to the general staff pool as his overall pay dropped in 2020.
The shipbroker waived 20% of his £2.38m ($3.27m) bonus for last year, as did finance and operations chief Jeff Woyda.
This meant £750,000 was to be shared among other colleagues, down from £1.3m in 2019.
The basic salaries of the two executives were unchanged at £550,000 for Case and £350,000 for Woyda.
Benefits, pension payments and bonuses brought total remuneration to £3.15m for Case and £1.1m for Woyda.
This compares to £3.26m and £1.17m in 2019, respectively.
Charitable donation
The pair also donated 20% of their earnings in the second quarter of 2020 to charity.
Case's biggest pay packet over the last 10 years came in 2014, when he was awarded £4.97m.
The executive bonus pool was £3.7m, based on underlying profit before tax of £44.7m in 2020.
In 2019, the waiver by Case and Woyda was 30%, but the actual bonuses banked remained about the same.
Remuneration committee chairman Tim Miller said: "In respect of 2020, the remuneration committee determined, and the board unanimously supported, consistently applying the shareholder-approved policy."
In a statement to TradeWinds, he called the underlying profit "an outstanding performance in the circumstances".
Miler said management had behaved prudently and cautiously to protect the business and customers around the world.
No state help
"The 2019 dividend, while initially deferred, was paid in September 2020, maintaining our 18-year progressive dividend policy," he said.
Miller emphasised that the company took no government loans, no staff were put on furlough, all suppliers were paid in good time and there were no redundancies related to Covid-19.
Last May, Clarksons headed off a shareholder revolt over what had been a controversial pay policy.
The new remuneration scheme gained more support at the annual general meeting in London than it did in 2019, following a charm offensive by directors.
The company said investors voted 67.06% in favour of the policy, against only 51.49% in the previous year.
Clarksons has admitted that Case's and Woyda's contracts date back 14 years and differ from current norms for listed companies. They reflect the fact Case is still a big fee-earning broker, for example.
The new policy keeps those terms in place, but new hires will face more traditional corporate deals.
The shipbroker revealed a bigger loss for 2020 after taking a £60.6m impairment on its securities and offshore business.
The net loss for the year grew to £25.8m, against £10.9m the year before, with revenue down at £358.2m from £363m.
The company said shipping's capital markets and energy demand were "severely affected" last year by the Covid-19 pandemic.
Goodwill hit
A spokeswoman told TradeWinds that the write-down was linked to a review of the goodwill from the acquisition of RS Platou in 2015.
In the company's annual report, chairman Sir Bill Thomas said the company is confident that government stimulus, the energy transition, the widespread desire for the world to return to normality, and the pent-up demand for travel will ensure that when a sustained recovery begins, the effects will be positively felt in shipping.
