As the Vice President and Chief Legal Officer at Halliburton, Albert Cornelison earned a total compensation of $3,255,089 in 2006.

Of this total, $525,000 was earned as salary, $531,877 was awarded as stock, $370,629 was received in stock options, $1,432,500 was awarded from non-equity incentive plan, and $395,083 came from all other compensation.

Mr. Cornelison earned $130 and $5,355 in above-market interest for balances in the ERISA Excess Benefit Plan for Dresser Industries, Inc. and ERISA Excess Compensation Limit Benefit Plan for Dresser Industries, Inc., respectively, and $6,556 in above-market interest on his Halliburton Benefit Restoration Plan balance.

Mr. Cornelison's "All Other Compensation" is composed of: $1,153 incremental cost for company provided reserved parking, $8,800 contribution to the Halliburton Retirement and Savings Plan for the Halliburton Basic Contribution in 2006, $6,125 contribution for the Halliburton Retirement and Savings Plan for employer match made in 2006, $4,598 for club membership dues, $1,386 for participation in the executive physical program, $9,500 for financial planning services, $40,538 for restricted stock dividends, $24,400 for 2006 award attributable to the Halliburton Restoration Plan (also shown in the Non-Qualified Deferred Compensation Table), $132,000 for 2006 award attributable to the Halliburton Supplemental Executives Retirement Plan (also shown in the Non-Qualified Deferred Compensation Table), and $98,289 payout for the Halliburton Pension Equalizer and $56,253 for its corresponding tax gross-up for the payment. The Pension Equalizer is attributable to a Plan Halliburton is required to maintain as a result of the merger with Dresser Industries, Inc.

Albert Cornelison worked with Weldon Mire, Mark McCollum, Andrew Lane, C. Christopher Gaut, and David Lesar at Halliburton in 2006.


Distribution
History
Compensation Data Fiscal 2006 Ends: Dec 31
  • Salary$525,000
  • Stock Awards$531,877
  • Option Awards$370,629
  • Non-Equity Incentive$1,432,500
  • Other$395,083
  • Total$3,255,089
Company
Halliburton
Industry
Oil Related Services and Equipment
Sector
Energy