Summary of Executive Officer Salary Increases for Plains Exploration & Production Company (Effective March 1, 2006)
Plains Exploration & Production Company has increased the base salaries of its named executive officers effective March 1, 2006. James C. Flores will receive a base salary of $800,000, while Thomas M. Gladney and John F. Wombwell will each receive $500,000. Each executive's target bonus is set equal to their respective base salary. Other compensation details were previously disclosed in the company's 2006 Proxy Statement.
Exhibit 10.4
PLAINS EXPLORATION & PRODUCTION COMPANY
SUMMARY OF NAMED EXECUTIVE OFFICER
SALARY INCREASES
Effective March 1, 2006
Effective March 1, 2006, the base salaries of each of the named executive officers of Plains Exploration & Production Company was increased as follows: James C. Flores, to $800,000; Thomas M. Gladney and John F. Wombwell, to $500,000. Each executive’s target bonus is equal to his base salary.
Information related to the other elements of total compensation for these executive officers was previously disclosed in Plains Exploration & Production Company’s 2006 Proxy Statement filed March 20, 2006.
