1. Debt-stricken Chesapeake Energy to Advance Incentive Executive Pay

    Debt-stricken Chesapeake Energy to Advance Incentive Executive Pay

    NEW YORK (Reuters) – Chesapeake Energy Corp said it would prepay a total of $25 million in incentive compensation to 21 top executives to ensure they are motivated, even as it prepares to file for bankruptcy protection to tackle its nearly $9 billion debt pile. The Oklahoma City-based company, co-founded by late wildcatter and outspoken natural gas proponent Aubrey McClendon ...

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    1. The board and compensation committee, with the advice of their independent compensation consultant and legal advisors, determined that the historic compensation structure and performance metrics would not be effective in motivating and incentivizing the company's workforce.
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