Sunoco Partners LLC 2005 Executive Compensation Summary Sheet

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the 2005 compensation details for key executives of Sunoco Partners LLC. It lists base salaries, annual incentive bonus opportunities, and long-term incentive awards (restricted units) for each named officer. The awards and bonuses are subject to performance criteria or continued employment, as approved by the Compensation Committee. The summary covers the terms and conditions for vesting and payout of restricted units, which depend on company performance or, in one case, continued employment through the end of 2007.

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EX-10.15 5 dex1015.htm SUNOCO PARTNERS LLC EXECUTIVE SUMMARY COMPENSATION SHEET FOR 2005 Sunoco Partners LLC Executive Summary Compensation Sheet for 2005

Exhibit 10.15

 

Sunoco Partners LLC

Executive Compensation Summary Sheet

for 2005

 

The table below presents 2005 summary information for named executive officers of Sunoco Partners LLC, with regard to: base salary, annual guideline incentive bonus opportunity under the Sunoco Partners LLC Annual Incentive Plan, and long-term incentive awards (restricted units) under the Sunoco Partners LLC Long-Term Incentive Plan.

 

2005 EXECUTIVE COMPENSATION1

 

Name and Title

   

2005

Base Salary

($)

   

Annual Guideline Incentive
Bonus Opportunity

(%)

  

Restricted Units

(#)

Deborah M. Fretz

President and Chief Executive Officer

    440,000    65%   19,7082

Colin A. Oerton

Vice President and Chief Financial Officer

    248,770    40%     5,3352

Christopher W. Keene

Vice President, Business Development

    235,000    40%     4,8722
  2,4363

Bruce D. Davis, Jr.

Vice President, General Counsel & Secretary

    219,450    30%     3,8982

David A. Justin

Vice President, Eastern Operations

    208,500    30%     3,6282

Paul S. Broker

Vice President, Western Operations

    180,200    30%     3,1062

NOTE TO TABLE:

 

  1. The base salaries, incentive bonus opportunities and restricted unit grants shown in the table were approved at the January 18, 2005 meeting of the Compensation Committee of the Board of Directors of Sunoco Partners LLC.

 

  2. Awards of Restricted Units under the Sunoco Partners LLC Long-Term Incentive Plan. Vesting and payout of these awards will depend upon the Partnership achieving certain specified performance levels based upon objectives for growth in distributable cash and total unitholder return over a restriction period that runs from January 18, 2005 through December 31, 2007.

 

  3. In connection with his hiring, Mr. Keene was granted a special award of 2,436 Restricted Units (with an aggregate value of $102,629 on the date of grant) under the Sunoco Partners LLC Long-Term Incentive Plan. The vesting and payout of these Restricted Units is subject only to Mr. Keene’s continued employment with Sunoco Partners LLC during the period from January 18, 2005 through December 31, 2007.