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DVN » Topics » Tally Sheets and Review of Personal Use of Corporate Aircraft

This excerpt taken from the DVN DEF 14A filed Apr 24, 2009.
Tally Sheets and Review of Personal Use of Corporate Aircraft
 
The Committee annually reviews tally sheets for named executive officers, including potential payments under various termination scenarios. Further detail can be found in the “Potential Payments Upon Termination or Change In Control” section of this Proxy Statement. The Committee also reviews both IRS and SEC calculations in connection with the valuation of personal use of the corporate aircraft.
 
The Committee has determined that the amounts reflected in these reviews are reasonable and consistent with the Company’s compensation philosophy. The Committee has noted that in the case of personal use of the corporate aircraft, the values for named executive officers were significantly less than those reported by our peer companies.
 
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