Chesapeake Energy Corporation 2005 Named Executive Officer Compensation Determination
Chesapeake Energy Corporation's Compensation Committee set the 2005 annual base salaries and cash bonuses for its named executive officers, including Aubrey K. McClendon, Tom L. Ward, Marcus C. Rowland, Martha A. Burger, and Michael A. Johnson. The agreement specifies each executive's salary and bonus amounts, with bonuses payable on January 15, 2005. This document outlines the company's compensation decisions for its top executives for the year 2005.
Exhibit 10.5
Named Executive Officer Compensation
Effective January 1, 2005, the Compensation Committee of the Board of Directors (the “Committee”) of Chesapeake Energy Corporation set the 2005 annual base salaries of the named executive officers at $900,000 for Aubrey K. McClendon, $900,000 for Tom L. Ward, $530,000 for Marcus C. Rowland, $425,000 for Martha A. Burger and $320,000 for Michael A. Johnson. In addition, the Committee awarded cash bonuses to the named executive officers, payable on January 15, 2005, of $575,000 for Aubrey K. McClendon, $575,000 for Tom L. Ward, $325,000 for Marcus C. Rowland, $215,000 for Martha A. Burger and $120,000 for Michael A. Johnson.
