Non-Employee Director Compensation Summary for Quest Energy GP, LLC (2008–2009)

Summary

This document outlines the compensation structure for non-employee directors of Quest Energy GP, LLC, the general partner of Quest Energy Partners, L.P., for the fiscal year 2008 and changes effective in 2009. It details annual fees for directors, committee chairpersons, and the Chairman of the Board, including adjustments made mid-2008 and a new compensation plan approved for 2009. The agreement specifies that no equity awards will be granted to non-employee directors in 2009.

EX-10.20 3 d66951exv10w20.htm EX-10.20 exv10w20

Exhibit 10.20

For the fiscal year ended 2008, the non-employee directors of Quest Energy GP, LLC (“Quest Energy GP”), the general partner of Quest Energy Partners, L.P. received the following compensation:

•

from January 1, 2008 to August 22, 2008:

		– a pro rated annual director fee of $32,000 per year;

		– a pro rated annual fee of $7,500 per year for the Audit Committee Chairperson;

		– a pro rated annual fee of $2,500 per year for any other committee chairperson;

•

from August 23, 2008 to December 31, 2008:

		– a pro rated annual director fee of $42,000 per year;

		– a pro rated annual fee of $30,000 per year for the Chairman of the Board;

		– a pro rated annual fee of $7,500 per year for the Audit Committee Chairperson; and

		– a pro rated annual fee of $2,500 per year for any other committee chairperson.

Additionally, the Chairman of the Board, a non-employee director, received a $30,000 pro rated fee based on length of service.

In March 2009, Quest Energy GP’s board of directors approved a change to the structure of the non-employee directors’ compensation, effective January 1, 2009, based on the recommendation of the Compensation Committee as follows:

	•		annual director fee of $125,000 per year;

	•		annual fee of $10,000 per year for the Audit Committee chairperson; and

	•		annual fee of $5,000 per year for any other committee chairperson.

Additionally, the Chairman of the Board, a non-employee director, will receive an annual fee of $30,000 per year. No equity awards will be paid to the non-employee directors for 2009.