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DVN » Topics » Compensation Weighted Toward Incentive Pay

This excerpt taken from the DVN DEF 14A filed Apr 28, 2008.
Compensation Weighted Toward Incentive Pay
 
We believe that the proportion of an employee’s total direct compensation that varies based on performance should increase as the scope of the individual’s ability to influence our results increases. Since executive officers have the greatest responsibility for, and influence over, our results, a significant portion of their overall compensation
 
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consists of incentive pay that is “at risk.” In 2007, for example, approximately 90 percent of the estimated value of the total direct compensation of our CEO was at risk. The estimated value of the total direct compensation at risk in 2007 for all other named executive officers ranged from approximately 80 percent to 90 percent of their total direct compensation.
 
This excerpt taken from the DVN DEF 14A filed Apr 27, 2007.
Compensation Weighted Toward Incentive Pay
 
We believe that the proportion of an employee’s total compensation that varies based on performance should increase as the scope of the individual’s ability to influence our results increases. Since executive officers have the greatest influence over our results, a significant portion of their overall compensation consists of incentive pay that is “at risk,” and the potential value of incentive awards provided to executives increases at higher levels of responsibility. In 2006, for example, approximately 90% of the total direct compensation (the sum of salary, bonus and long-term incentive compensation awards granted in 2006) of our Chief Executive Officer was at risk against near-term and long-term performance goals. The total direct compensation at risk against near-term and long-term performance goals in 2006 for all other named executive officers


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ranged from approximately 81% to 86% of their total direct compensation. This approach also helps to align our compensation expenses with the cyclical nature of the oil and gas industry.
 

EXCERPTS ON THIS PAGE:

DEF 14A
Apr 28, 2008
DEF 14A
Apr 27, 2007

RELATED TOPICS for DVN:

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