As the Retired President - Drilling and Evaluation Division at Halliburton, C. Christopher Gaut earned a total compensation of $3,258,983 in 2009, which decreased by 31.48% compared to 2008.

Of this total, $379,167 was earned as salary, $1,291,667 was awarded from non-equity incentive plan, and $1,588,149 came from all other compensation.

Mr. Gaut was approved for early retirement effective August 1, 2009 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 in the amount of $1,300,000, a full year of participation in the 2009 Halliburton Annual Performance Pay Plan and vesting of all restricted stock. Additionally, he maintains the full 10-year period to exercise unexercised stock options. Mr. Gaut's nonqualified compensation payments did 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. Gaut are shown in the Summary Compensation Table. In 2010, Mr. Gaut received the following payments: $960,266 for the Halliburton Company Supplemental Executive Retirement Plan, $4,568,528 for the Halliburton Company Elective Deferral Plan and $225,444 for the Halliburton Company Benefit Restoration Plan. Mr. Gaut also entered into a non-compete agreement with us. Mr. Gaut agreed not to work for a competitor of Halliburton during the next three years beginning with his separation date of August 1, 2009. If he complies with the terms of the agreement, he will receive payments, to the extent earned, under the 2007, 2008 and 2009 cycles of the Performance Unit Program on a pro-rated basis in a lump sum payment. The amount of $1,291,667 reflected in the table above under Non-Equity Incentive Plan Compensation represents the amount that will be paid under the 2007 cycle Performance Unit Program if Mr. Gaut complies with the terms of the non-compete agreement.

C. Christopher Gaut worked with Timothy Probert, Albert Cornelison, James Brown, Mark McCollum, and David Lesar at Halliburton in 2009.

Compensation Data Fiscal 2009 Ends: Dec 31
  • Salary$379,167
  • Non-Equity Incentive$1,291,667
  • Other$1,588,149
  • Total$3,258,983
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