Robert Douglas Lawler, tapped to be CEO of Chesapeake Energy Corp. beginning June 17, will earn more than co-founder and predecessor Aubrey McClendon, according to a Securities and Exchange Commission (SEC) filing (see Daily GPI, May 21). The compensation package for the first year of employment has the potential to total at least $22 million, if Lawler hits his bonus targets, the SEC Form 8-K indicated. Base salary is set at $1.25 million a year, with a cash bonus of at least $800,000 the first year, a cash signing bonus of $2 million, and shares and options worth $18 million. About $7.5 million of the shares and options are to be paid over the next five years. If Lawler stays for five years, he is to receive another $5 million. About $12.5 million of the share awards are to compensate for losses in pensions and benefits for leaving Anadarko Petroleum Corp. By comparison, McClendon earned a base salary of $975,000 in 2012, with total remuneration of $16.9 million, according to company documents. However, McClendon also earns, and will continue to earn through June 2014, up to 2.5% in profits on wells that the company drills.
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