Summary of Material Terms of Employment for Bruce W. Busmire as Vice President and Chief Accounting Officer at Anadarko Petroleum Corporation

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Summary

This agreement outlines the employment terms for Bruce W. Busmire as Vice President and Chief Accounting Officer of Anadarko Petroleum Corporation, effective May 1, 2006. He will receive a base salary of $275,000, a bonus target of 60% of his salary, and equity grants including restricted stock and stock options that vest over several years. He is also eligible for a change of control contract, indemnification agreement, and standard executive benefits. Some agreements referenced have been previously filed with the SEC.

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EX-10.1 2 exhibit_10-1.htm ANADARKO PETROLEUM CORPORATION FORM 8-K-EXHIBIT 10.1 Anadarko Petroleum Corporation Form 8-K Exhibit 10.1

EXHIBIT 10.1

Summary of Material Terms of Employment
Bruce W. Busmire
Vice President and Chief Accounting Officer
(Effective May 1, 2006)

 

 

Position:

Vice President and Chief Accounting Officer

Base Salary:

$275,000

2006 Bonus Target:

60% of Base Salary under Company's Annual Incentive Plan

Equity Grants:

- 6,000 shares of Restricted Stock to be granted under Company's 1999 Stock Incentive Plan; to vest in four equal installments on the anniversary date of the grant*

- 9,500 Non-Qualified Stock Options to be granted under Company's 1999 Stock Incentive Plan; to vest in two equal installments on the second and fourth anniversaries of the grant *

- Will also be eligible for 2006 annual grant under Company's 1999 Stock Incentive Plan

Other:

Eligible for:

  • Key Employee Change of Control Contract,*
  • Director and Officer Indemnification Agreement,* and
  • the same benefits provided to other executive officers of the Company


* Form of agreement previously filed with Securities and Exchange Commission.