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 March 2008. It specifies base salaries for executives, annual cash retainers, committee chair and member retainers, and annual equity awards for directors. The agreement also notes eligibility for additional equity compensation and participation in incentive plans, as well as reimbursement of reasonable expenses for non-employee directors. The table includes specific salary figures and retainer amounts, and references related employment and compensation plan agreements.

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EX-10.46 6 h53535exv10w46.htm COMPENSATION TABLE FOR NAMED EXECUTIVE OFFICERS AND DIRECTORS exv10w46  

Exhibit 10.46
BAKER HUGHES INCORPORATED
Compensation Table for Named Executive Officers and Directors
Named Executive Officers:
                 
    Current   Base Salary Effective
    Base Salary   March 2008 3
 
                
Chad C. Deaton 1
   $ 1,100,000     $ 1,155,000  
Peter A. Ragauss
     546,000       568,000  
James R. Clark 2
     0       0  
Alan R. Crain
     455,000       473,000  
David H. Barr
     450,000       450,000  
Non-Employee Directors4:
         
 
        
Annual Cash Retainer:
   $ 60,000  
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  
Annual Non-Retainer Equity (restricted stock awarded in January, stock options awarded 50% in January and 50% in July of each year):
   $ 150,000  
 
1   Mr. Deaton has an Employment Agreement with Baker Hughes Incorporated, filed as Exhibit 10.3 to Current Report on Form 8-K filed October 7, 2004.
 
2   Mr. Clark retired from the Company on January 31, 2008.
 
3   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 Exhibit 10.2 to Quarterly Report on Form 10-Q for the quarter ended September 30, 2003. These named executive officers also are entitled to participate in the Company’s Annual Incentive Compensation Plan, as amended and restated, filed as Exhibit 10.18 to Annual Report on Form 10-K for the year ended December 31, 2007.
 
4   Non-employee directors are reimbursed for reasonable travel and related expenses.