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 as of April 1, 2010. 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, with reimbursement for reasonable expenses for non-employee directors. The terms are subject to board discretion and reference related compensation plans and agreements.
EX-10.52 8 h69014exv10w52.htm EX-10.52 exv10w52
Exhibit 10.52
BAKER HUGHES INCORPORATED
Compensation Table for Named Executive Officers and Directors
Named Executive Officers:
| Current | ||||
| Base Salary 1 | ||||
Chad C. Deaton 2 | $ | 1,270,000 | ||
Martin S. Craighead | 700,000 | |||
Peter A. Ragauss | 670,000 | |||
Alan R. Crain | 488,000 | |||
John A. O’Donnell | 412,000 | |||
Non-Employee Directors 3:
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 | Base salary effective April 1, 2010. 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. | |
| 2 | 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. | |
| 3 | Non-employee directors are reimbursed for reasonable travel and related expenses. |
