As the Vice President and Chief Operating Officer at Halliburton, Andrew Lane earned a total compensation of $11,854,955 in 2007, which increased by 257.53% compared to 2006.

Of this total, $700,000 was earned as salary, $7,165,680 was awarded as stock, $1,533,633 was received in stock options, $2,269,410 was awarded from non-equity incentive plan, and $186,232 came from all other compensation.

Mr. Lane was approved for early retirement effective December 31, 2007 by mutual agreement with Halliburton. He received a severance benefit in the amount of two times his annual base pay at the time of separation, a full year of participation in the 2007 Halliburton Annual Performance Pay Plan and vesting of all restricted stock. Additionally, he maintains the full 10 year period to exercise any vested but unexercised stock options. Because of Mr. Lane's status as a company officer at the time of his early retirement, his nonqualified compensation payments attributed to years 2005 and later will not begin until six months from the date of his early retirement in accordance with Section 409A of the Internal Revenue Code. Not all payments to be made to Mr. Lane are shown in the Summary Compensation Table and 2007 Nonqualified Deferred Compensation table as he was still considered an active employee on the last day of the 2007 calendar year. In 2008, Mr. Lane will receive the following payments: $1,400,000 for severance, $15,000 in lieu of outplacement services, $731,361 for the Halliburton Company Supplemental Executive Retirement Plan and $140,789 for the Halliburton Company Benefit Restoration Plan. Payments for the 2007 Halliburton Annual Performance Pay Plan and 2005 cycle Performance Unit Program are disclosed under the Non-Equity Incentive Plan Compensation column as these payments were earned and paid like all other plan participants.

Andrew Lane worked with David Smith, Lawrence Pope, Mark McCollum, Albert Cornelison, C. Christopher Gaut, and David Lesar at Halliburton in 2007.


Distribution
History
Compensation Data Fiscal 2007 Ends: Dec 31
  • Salary$700,000
  • Stock Awards$7,165,680
  • Option Awards$1,533,633
  • Non-Equity Incentive$2,269,410
  • Other$186,232
  • Total$11,854,955
Company
Halliburton
Industry
Oil Related Services and Equipment
Sector
Energy