Chesapeake Energy 2013 Annual Report Download - page 141
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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
133
Substantially all of the restructuring and other termination costs in 2013 are in the exploration and production
operating segment. Below is a summary of our restructuring and other termination costs for the years ended December
31, 2013, 2012 and 2011:
Years Ended December 31,
2013 2012 2011
($ in millions)
Restructuring charges under workforce reduction plan:
Salary expense ............................................................................. $ 20 $ — $ —
Acceleration of stock-based compensation................................... 45 — —
Other termination benefits............................................................. 1 — —
Total restructuring charges
under workforce reduction plan ........................................... 66 — —
Termination benefits provided to Mr. McClendon:
Salary and bonus expense ........................................................... 11 — —
Acceleration of 2008 performance bonus clawback...................... 11 — —
Acceleration of stock-based compensation................................... 22 — —
Acceleration of performance share unit awards............................ 18 — —
Estimated aircraft usage benefits.................................................. 7 — —
Total termination benefits provided to
Mr. McClendon .................................................................... 69 — —
Termination benefits provided to VSP participants:
Salary and bonus expense ........................................................... 33 1 —
Acceleration of stock-based compensation................................... 29 1 —
Other termination benefits............................................................. 1 — —
Total termination benefits provided to
VSP participants .................................................................. 63 2 —
Other termination benefits ................................................................... 50 5 —
Total restructuring and other termination costs..................... $ 248 $ 7 $ —