Plains Exploration & Production Company Executive Officer Salary Increase Summary (Effective March 1, 2008)
Plains Exploration & Production Company has increased the base salaries of its named executive officers effective March 1, 2008. James C. Flores will receive a base salary of $1,200,000, while Doss R. Bourgeois, Winston M. Talbert, and John F. Wombwell will each receive $650,000. Each executive's target bonus is set to match their respective base salary. This summary outlines the new compensation terms for these executives.
Exhibit 10.23
PLAINS EXPLORATION & PRODUCTION COMPANY
SUMMARY OF NAMED EXECUTIVE OFFICER
SALARY INCREASES
Effective March 1, 2008
Effective March 1, 2008, the base salaries of each of the named executive officers of Plains Exploration & Production Company was increased as follows: James C. Flores, to $1,200,000; each of Doss R. Bourgeois, Winston M. Talbert and John F. Wombwell, to $650,000. Each executive’s target bonus is equal to his base salary.
