The Drilling and Evaluation segment consists of the Baker Hughes Drilling Fluids (drilling fluids), Hughes Christensen (oilfield drill bits), INTEQ (drilling, measurement-while-drilling and logging-while-drilling) and Baker Atlas (wireline formation evaluation and wireline completion services) divisions and also includes our reservoir technology and consulting group. The Drilling and Evaluation segment provides products and services used to drill and evaluate oil and natural gas wells and consulting services used in the analysis of oil and gas reservoirs

EX-10.47 3 h65827exv10w47.htm EX-10.47 exv10w47
Exhibit 10.47
BAKER HUGHES INCORPORATED
Compensation Table for Named Executive Officers and Directors
     Named Executive Officers:
         
    Current  
    Base Salary  
Chad C. Deaton 1
   $ 1,155,000  
Peter A. Ragauss
     568,000  
Alan R. Crain
     473,000  
David H. Barr
     450,000  
Martin S. Craighead
     450,000  
     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 2002 Director & Officer Long-Term Compensation Plan, filed as Exhibits 10.23, 10.24 and 10.25 to Annual Report of baker Hughes Incorporated on Form 10-K for the year ended December 31, 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, 2008.
 
3   Non-employee directors are reimbursed for reasonable travel and related expenses.