Executive Officer Compensation Table Effective October 1, 2005
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Summary
This document outlines the annual compensation for the company's executive officers as of October 1, 2005. It details each officer's base salary, target cash bonus as a percentage of salary, and incentive compensation in the form of restricted stock awards and stock options. Bonuses are contingent on meeting performance goals set annually by the Compensation and Management Development Committee. The listed stock awards and options were granted at $54.18 per share on October 25, 2005.
EX-10.2 2 h30077exv10w2.htm COMPENSATION TABLE FOR EXECUTIVE OFFICERS exv10w2
Exhibit 10.2
Compensation Table for Executive Officers
The following table summarizes annual compensation for all executive officers effective as of October 1, 2005. Each executive officer is entitled to an annual cash bonus targeted at a percent of his or her annual base salary. Payment of the bonus is based on achievement of performance goals established each year by our Compensation and Management Development Committee. In addition, each executive officer is entitled to incentive compensation in the form of restricted stock awards and/or stock options. The below listed grants were made at $54.18 per share on October 25, 2005.
| Annual Compensation | Incentive Compensation | |||||||||||||||
| Restricted | Securities | |||||||||||||||
| Base | Cash | Stock | Underlying | |||||||||||||
| Name and Principal Position | Salary($) | Bonus % | Awards (#) | Options(#) | ||||||||||||
William G. Hargett | $ | 525,000 | 85 | % | 17,000 | 38,000 | ||||||||||
Chairman, President and Chief Executive Officer | ||||||||||||||||
Steven L. Mueller | $ | 350,000 | 65 | % | 6,000 | 13,000 | ||||||||||
Executive Vice President and Chief Operating Officer | ||||||||||||||||
John H. Karnes | $ | 310,000 | 55 | % | 5,000 | 11,000 | ||||||||||
Senior Vice President and Chief Financial Officer | ||||||||||||||||
Jeffery B. Sherrick | $ | 289,000 | 55 | % | 4,000 | 9,000 | ||||||||||
Senior Vice President – Corporate Development | ||||||||||||||||
Roger B. Rice | $ | 252,000 | 55 | % | 3,000 | 7,000 | ||||||||||
Senior Vice President – Administration | ||||||||||||||||
James F. Westmoreland | $ | 256,000 | 55 | % | 2,000 | 4,000 | ||||||||||
Vice President and Chief Accounting Officer | ||||||||||||||||
John E. Bergeron | $ | 226,000 | 55 | % | 2,000 | 5,000 | ||||||||||
Vice President and General Manager — Offshore Division | ||||||||||||||||
Joanne C. Hresko | $ | 226,000 | 55 | % | 2,000 | 5,000 | ||||||||||
Vice President and General Manager — Onshore Division | ||||||||||||||||
