Worried about losing your job here every day? Satisfied with YOUR crummy LTI? Don't worry it's all for the greater good. Our executive team needs to just cut our G&A a little bit more so they can award "retention" bonuses to themselves. WHAT A JOKE!
Executive officers will receive the following respective amounts under the KERP:
Executive Retention Program
Charles Duginski Chief Executive Officer, President and Director $ 725,000
Justin P. Byrne Vice President and General Counsel $ 520,000
Joshua D. Walker Vice President-Completions & Operations $ 305,000
Clinton J. Calhoun Vice President-Resource Development $ 300,000
Stephanie A. Carnes Vice President and Controller $ 300,000
Modification of Annual Incentive Plan.
The Company has historically made payments under its Annual Incentive Plan on an annual basis on or about March 15th of the year following the applicable performance period. The Committee has approved the
modification of the Annual Incentive Plan for the five executive officers named above; payments will now be measured and paid on a calendar quarterly basis.
As a result of the modification described above, each executive participant will receive one-half of his or her incentive target as soon as is possible, subject to clawback and true-up based on actual performance at
the end of the second quarter of 2020.
The target incentive amounts for each of the Company’s executive officers under the Annual Incentive Plan are set forth below:
Executive Position Target Incentive (1)
Charles Duginski Chief Executive Officer, President and Director $ 525,000
Justin P. Byrne Vice President and General Counsel $ 224,000
Joshua D. Walker Vice President-Completions & Operations $ 168,000
Clinton J. Calhoun Vice President-Resource Development $ 165,000
Stephanie A. Carnes Vice President and Controller $ 139,000