Summary of Executive Officer Compensation Arrangements for Cheniere Energy, Inc.

Summary

Cheniere Energy, Inc. outlines the compensation terms for its executive officers, who are all employed at will and do not have formal employment or severance agreements. Compensation includes an annual salary (reviewed by the Compensation Committee), eligibility for discretionary annual cash bonuses, potential stock awards under the company's incentive plan, standard insurance and benefits, and paid leave. The document lists the 2006 base salaries for each executive officer and notes that one executive's employment is set to begin on August 21, 2006.

EX-10.1 2 a5166842ex10_1.txt EXHIBIT 10.1 Exhibit 10.1 ------------ Summary of Compensation for Executive Officers ---------------------------------------------- All of the executive officers of Cheniere Energy, Inc. ("Cheniere") are "at will" employees and none of them has an employment or severance agreement. The unwritten arrangements under which Cheniere's executive officers are compensated include: o a salary, reviewed annually by the Compensation Committee of the Board of Directors of Cheniere; o eligibility for a discretionary annual cash bonus, as determined by the Compensation Committee; o eligibility for awards under Cheniere's Amended and Restated 2003 Stock Incentive Plan, as determined by the Compensation Committee; o health, life, disability and other insurance and/or benefits; and o vacation, paid sick leave and all other employee benefits. The following table sets forth the 2006 annual base salary amounts for each of Cheniere's executive officers: 2006 Annual Executive Officer Base Salary - ----------------- ----------- Charif Souki $550,000 Chairman and Chief Executive Officer Stanley C. Horton $425,000 President and Chief Operating Officer Walter L. Williams $250,000 Vice Chairman David B. Gorte* $240,000 Senior Vice President and Chief Risk Officer Jonathan S. Gross $250,000 Senior Vice President - Exploration Zurab S. Kobiashvili $250,000 Senior Vice President & General Counsel Keith M. Meyer $250,000 Senior Vice President - LNG Don A. Turkleson $250,000 Senior Vice President, Chief Financial Officer and Secretary *Mr. Gorte's expected date of employment is August 21, 2006.