Baker Hughes 2010 Annual Report Download - page 12

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PROXY STATEMENT
TABLE OF CONTENTS
Proxy Statement.....................................................................................................................................................................1
Voting Securities ....................................................................................................................................................................2
Proposal No. 1 Election of Directors .......................................................................................................................................3
Corporate Governance ..........................................................................................................................................................6
Security Ownership of Management ....................................................................................................................................10
Charitable Contributions ......................................................................................................................................................10
Section 16(a) Beneficial Ownership Reporting Compliance ...................................................................................................10
Certain Relationships and Related Transactions ....................................................................................................................10
Compensation Discussion and Analysis ................................................................................................................................11
Summary Compensation Table .......................................................................................................................................25
Grants of Plan-Based Awards .........................................................................................................................................26
Outstanding Equity Awards at Fiscal Year-End ................................................................................................................27
Option Exercises and Stock Vested .................................................................................................................................28
Pension Benefits ............................................................................................................................................................29
Nonqualified Deferred Compensation ............................................................................................................................29
Potential Payments Upon Termination or Change in Control ..........................................................................................30
Compensation Committee Report ........................................................................................................................................34
Compensation Committee Interlocks and Insider Participation .............................................................................................34
Director Compensation ........................................................................................................................................................35
Audit/Ethics Committee Report ............................................................................................................................................36
Proposal No. 2 Ratification of the Company’s Independent Registered Public Accounting Firm ............................................36
Fees Paid to Deloitte & Touche LLP .......................................................................................................................................37
Proposal No. 3 The Reapproval of the Performance Criteria for Awards under the
Annual Incentive Compensation Plan, as required by Section 162(m) of the Internal Revenue Code ..............................37
Proposal No. 4 Advisory Vote on Executive Compensation ...................................................................................................39
Proposal No. 5 Advisory Vote on the Frequency of the Holding of an Advisory Vote on Executive Compensation ................39
Proposal No. 6 Stockholder Proposal Majority Vote Standard for Director Elections ..............................................................40
Annual Report .....................................................................................................................................................................41
Incorporation by Reference ..................................................................................................................................................41
Stockholder Proposals ..........................................................................................................................................................41
Other Matters ......................................................................................................................................................................41
Annex A – Baker Hughes Incorporated Corporate Governance Guidelines ...........................................................................42
Annex B – Baker Hughes Incorporated Charter of the Audit/Ethics Committee of the Board of Directors .............................51
Annex C – Baker Hughes Incorporated Amended and Restated Annual Incentive Compensation Plan .................................55