Chesapeake Energy Corporation Named Executive Officer Compensation Determination (July 2007)
Chesapeake Energy Corporation's Compensation Committee set new annual base salaries and awarded cash bonuses to its named executive officers, effective July 1, 2007. The agreement specifies the salary amounts for each executive and the cash bonuses to be paid on July 13, 2007. This document outlines the compensation decisions for Aubrey K. McClendon, Marcus C. Rowland, Steven C. Dixon, Douglas J. Jacobson, and J. Mark Lester.
Exhibit 10.5
Named Executive Officer Compensation
Effective July 1, 2007, the Compensation Committee of the Board of Directors (the “Committee”) of Chesapeake Energy Corporation set the annual base salaries of the named executive officers at $975,000 for Aubrey K. McClendon, $800,000 for Marcus C. Rowland, $800,000 for Steven C. Dixon, $750,000 for Douglas J. Jacobson and $740,000 for J. Mark Lester. In addition, the Committee awarded cash bonuses to the named executive officers, payable on July 13, 2007, of $875,000 for Aubrey K. McClendon, $575,000 for Marcus C. Rowland, $575,000 for Steven C. Dixon, $475,000 for Douglas J. Jacobson and $465,000 for J. Mark Lester.
