Chesapeake Energy Corporation 2007 Named Executive Officer Compensation Determination
Chesapeake Energy Corporation's Compensation Committee set the 2007 annual base salaries and awarded cash bonuses for its named executive officers, including Aubrey K. McClendon, Marcus C. Rowland, Steven C. Dixon, J. Mark Lester, and Douglas J. Jacobson. The agreement specifies each executive's salary and bonus amounts, with bonuses payable on January 19, 2007. This document outlines the compensation decisions for these top executives for the year 2007.
Exhibit 10.5
Named Executive Officer Compensation
Effective January 1, 2007, the Compensation Committee of the Board of Directors (the “Committee”) of Chesapeake Energy Corporation set the 2007 annual base salaries of the named executive officers at $975,000 for Aubrey K. McClendon, $775,000 for Marcus C. Rowland, $775,000 for Steven C. Dixon, $725,000 for J. Mark Lester and $725,000 for Douglas J. Jacobson. In addition, the Committee awarded cash bonuses to the named executive officers, payable on January 19, 2007, of $830,000 for Aubrey K. McClendon, $550,000 for Marcus C. Rowland, $550,000 for Steven C. Dixon, $450,000 for J. Mark Lester and $450,000 for Douglas J. Jacobson.
