Baker Hughes Incorporated Compensation Table for 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 2007. It specifies base salaries for executives and details annual cash retainers, committee retainers, and 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, along with relevant conditions and references to related agreements.

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EX-10.45 5 h43740exv10w45.htm COMPENSATION TABLE exv10w45  

Exhibit 10.45
BAKER HUGHES INCORPORATED
Compensation Table for Named Executive Officers and Directors
     Named Executive Officers:
                 
            Base Salary
    Current   Effective
    Base Salary   March 20074
Chad C. Deaton 1
   $ 1,025,000     $ 1,100,000  
Peter A. Ragauss 2
     525,000       546,000  
James R. Clark
     645,000       695,000  
G. Stephen Finley 3
     0       0  
Alan R. Crain, Jr.
     425,000       455,000  
David H. Barr
     393,750       415,000  
Douglas J. Wall
     393,750       415,000  
     Non-Employee Directors 5 :
         
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. Ragauss joined the Company on April 26, 2006.
 
3   Mr. Finley retired from the Company on April 30, 2006.
 
4   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 10.1 to Quarterly Report on Form 10-Q for the quarter ended March 31, 2006.
 
5   Non-employee directors are reimbursed for reasonable travel and related expenses.