Chesapeake Energy Named Executive Officer Compensation Determination (July 1, 2005)
Chesapeake Energy's Compensation Committee set new annual base salaries and awarded cash bonuses to its named executive officers, effective July 1, 2005. The officers and their respective salaries and bonuses are: Aubrey K. McClendon ($950,000 salary, $625,000 bonus), Tom L. Ward ($950,000 salary, $625,000 bonus), Marcus C. Rowland ($580,000 salary, $355,000 bonus), Martha A. Burger ($480,000 salary, $250,000 bonus), and Michael A. Johnson ($360,000 salary, $140,000 bonus). This document outlines the compensation decisions for these executives.
Exhibit 10.5
Named Executive Officer Compensation
On July 1, 2005, the Compensation Committee of the Board of Directors set the annual base salaries of, and awarded cash bonuses to, Chesapeake’s named executive officers, effective July 1, 2005. The new base salaries and the cash bonuses, respectively, are as follows: Aubrey K. McClendon $950,000 and $625,000; Tom L. Ward $950,000 and $625,000; Marcus C. Rowland $580,000 and $355,000; Martha A. Burger $480,000 and $250,000; and Michael A. Johnson $360,000 and $140,000.
