Chesapeake Energy Corporation Executive Officer Compensation Determination (July 2008)
Chesapeake Energy Corporation's Compensation Committee set new annual base salaries and awarded cash bonuses to its named executive officers, effective July 1, 2008. The agreement specifies the salary and bonus amounts for each executive, including Aubrey K. McClendon, Marcus C. Rowland, Steven C. Dixon, Douglas J. Jacobson, J. Mark Lester, and Martha A. Burger. Bonuses are to be paid on July 18, 2008. This document outlines the compensation terms for these key executives for the specified period.
Exhibit 10.5
Named Executive Officer Compensation
Effective July 1, 2008, 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, $860,000 for Marcus C. Rowland, $860,000 for Steven C. Dixon, $800,000 for Douglas J. Jacobson, $775,000 for J. Mark Lester and $700,000 for Martha A. Burger. In addition, the Committee awarded cash bonuses to the named executive officers, payable on July 18, 2008, of $975,000 for Aubrey K. McClendon, $650,000 for Marcus C. Rowland, $650,000 for Steven C. Dixon, $550,000 for Douglas J. Jacobson, $525,000 for J. Mark Lester and $425,000 for Martha A. Burger
