Baker Hughes Incorporated Compensation Table for Named Executive Officers and Directors

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Summary

This document outlines the compensation structure for named executive officers and non-employee directors of Baker Hughes Incorporated. It specifies base salaries for key executives and details annual cash retainers, committee chair and member fees, and equity awards for directors. The agreement also notes eligibility for additional equity compensation and participation in incentive plans, while stating that the Executive Perquisite Program will be eliminated in 2011. Non-employee directors are reimbursed for reasonable travel and related expenses.

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EX-10.77 3 h78111exv10w77.htm EX-10.77 exv10w77
Exhibit 10.77
BAKER HUGHES INCORPORATED
Compensation Table for Named Executive Officers and Directors
Named Executive Officers:
                 
            Base Salary
    Current   Effective
    Base Salary   April 20112
Chad C. Deaton 1
   $ 1,155,000     $ 1,281,364  
Martin S. Craighead
     650,000       710,526  
Peter A. Ragauss
     650,000       680,526  
Alan R. Crain
     473,000       499,429  
John A. O’Donnell
     400,000       424,500  
Non-Employee Directors3:
         
Annual Cash Retainer:
   $ 75,000  
Audit/Ethics Committee Chairman Annual Retainer:
   $ 20,000  
Other Committee Chairman Annual Retainer:
   $ 15,000  
Audit/Ethics Committee Members Retainer:
   $ 10,000  
Other Committee Members Retainer
(Excluding Executive Committee):
   $ 5,000  
Lead Director
   $ 15,000  
 
        
Annual Non-Retainer Equity (restricted stock awarded in January, stock options awarded 50% in January and
50% in July of each year):
   $ 200,000  
 
1   Mr. Deaton has an Amended and Restated Employment Agreement with Baker Hughes Incorporated, filed as Exhibit 10.1 to Current Report on Form 8-K filed December 19, 2008.
 
2   In addition to their base salaries, these named executive officers, at the discretion of the Board of Directors can receive equity compensation pursuant to the Baker Hughes Incorporated 2002 Director & Officer Long-Term Compensation Plan, filed as Exhibits 10.2 to Quarterly Report on Form 10-Q for the quarter ended September 30, 2003; 10.3 to Quarterly Report on Form 10-Q for the quarter ended September 30, 2005; and 10.3 to Quarterly Report on Form 10-Q for the quarter ended June 30, 2008. These named executive officers also are entitled to participate in the Company’s Annual Incentive Compensation Plan, as amended and restated, filed as Exhibits 10.15 and 10.16 to Annual Report of Baker Hughes Incorporated on Form 10-K for the year ended December 31, 2007 and December 31, 2008, respectively. In 2011, the Executive Perquisite Program will be eliminated for the Named Executive Officers.
 
3   Non-employee directors are reimbursed for reasonable travel and related expenses.