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38 Baker Hughes Incorporated
DIRECTOR COMPENSATION
The following table discloses the cash, equity awards and other compensation earned, paid or awarded, as the case may be, to
each of the Company’s independent non-management directors during the fiscal years ended 2007 and 2006. For a description of
the fees and other awards payable to the Company’s directors, please refer to the section titled “Corporate Governance – Board of
Directors” contained elsewhere in this proxy statement.
Non-Equity
Incentive Plan
Fees Earned or Paid Stock Awards Option Awards Compensation All Other
in Cash ($) ($)(1,2) ($)(1,2) ($) Compensation Total ($)
Name 2007 2006 2007 2006 2007 2006 2007 2006 2007 2006 2007 2006
Larry D.
Brady $ 72,723(3) $ 72,723(3) $ 63,882 $ 30,549 $ 16,086 $ 16,738 $ 0 $ 0 $ 0 $ 15,692(4) $ 152,691 $ 135,702
Clarence P.
Cazalot, Jr. $ 85,000 $ 85,000 $ 63,882 $ 30,549 $ 16,086 $ 16,738 $ 0 $ 0 $ 0 $ 164,968 $ 132,287
Edward P.
Djerejian $ 70,000 $ 70,000 $ 63,882 $ 30,549 $ 16,086 $ 16,738 $ 0 $ 0 $ 0 $ 5,374 $ 149,968 $ 122,661
Anthony G.
Fernandes $ 85,000(3) $ 85,000(3) $ 63,882 $ 30,549 $ 16,086 $ 16,738 $ 0 $ 0 $ 0 $ 4,828 $ 164,968 $ 137,115
Claire W.
Gargalli $ 70,000 $ 70,000 $ 63,882 $ 30,549 $ 16,086 $ 16,738 $ 0 $ 0 $ 0 $ 3,077 $ 149,968 $ 120,364
Pierre H.
Jungels $ 70,000 $ 47,434 $ 55,546 $ 16,660 $ 16,086 $ 8,819 $ 0 $ 0 $ 0 $ 977 $ 141,632 $ 73,890
James A.
Lash $ 75,000 $ 75,000 $ 63,882 $ 30,549 $ 16,086 $ 16,738 $ 0 $ 0 $ 0 $ 3,246 $ 154,968 $ 125,533
James F.
McCall $ 85,000 $ 85,000 $ 126,661 $ 73,319 $ 16,086 $ 16,738 $ 0 $ 0 $ 0 $ 15,928(4) $ 227,747 $ 190,985
J. Larry
Nichols $ 75,000 $ 75,000 $ 63,882 $ 30,549 $ 16,086 $ 16,738 $ 0 $ 0 $ 0 $ 0 $ 154,968 $ 122,287
H. John
Riley, Jr. $ 80,000(3) $ 80,000(3) $ 63,882 $ 30,549 $ 16,086 $ 16,738 $ 0 $ 0 $ 0 $ 4,790 $ 159,968 $ 132,077
Charles L.
Watson $ 70,000 $ 70,000 $ 63,882 $ 30,549 $ 16,086 $ 16,738 $ 0 $ 0 $ 0 $ 4,342 $ 149,968 $ 121,629
(1) Restricted stock grants were made on January 25, 2006 and January 24, 2007 and valued at $75.06 and $68.54 per share, respectively. Stock option grants were
made on January 25, 2006 and January 24, 2007 at an exercise price of $75.06 and $68.54, respectively, and a SFAS 123(R) value of $23.78 and $22.40 per share,
respectively. Stock option grants were also made on July 27, 2006 and July 25, 2007 at an exercise price of $80.73 and $82.28, respectively, and a SFAS 123(R) value
of $28.54 and $26.18 per share, respectively. For both stock and stock option grants, the value shown is what is also included in the Company’s financial statements
per SFAS 123(R). See the Company’s Annual Report for the years ended December 31, 2006 and 2007 for a complete description of the SFAS 123(R) valuation.
(2) The following table shows the aggregate number of stock awards and options awards outstanding for each director as of December 31, 2006 and 2007 as well as the
grant date fair value of stock awards and option grants made during 2006 and 2007:
Aggregate Aggregate Grant Date Fair Value
Stock Awards Outstanding Option Awards Outstanding of Stock and Option
as of December 31 as of December 31 Awards made during
Name 2007 2006 2007 2006 2007 2006
Larry D. Brady 5,617 4,158 1,563 896 $ 116,086 $ 116,718
Clarence P. Cazalot, Jr. 7,208 5,749 3,290 1,332 $ 116,086 $ 116,718
Edward P. Djerejian 7,208 5,749 1,309 642 $ 116,086 $ 116,718
Anthony G. Fernandes 9,208 7,749 12,667 12,000 $ 116,086 $ 116,718
Claire W. Gargalli 1,704 10,902 4,290 10,203 $ 116,086 $ 116,718
Pierre H. Jungels 2,408 949 976 309 $ 116,086 $ 83,790
James A. Lash 7,208 1,332 3,290 2,623 $ 116,086 $ 116,718
James F. McCall 4,208 5,749 1,309 642 $ 116,086 $ 116,718
J. Larry Nichols 7,208 1,332 6,290 4,981 $ 116,086 $ 116,718
H. John Riley, Jr. 20,208 17,749 4,290 4,623 $ 116,086 $ 116,718
Charles L. Watson 16,948 11,408 19,441 29,876 $ 116,086 $ 116,718
(3) Messrs. Brady, Fernandes and Riley previously elected to have their fees deferred and thus the amounts shown above were paid to their deferred compensation
accounts pursuant to the Director Compensation Deferral Plan (discussed below).
(4) Amount includes perquisite payments to cover spousal airfare and meals associated with Board of Director meetings in November 2006.