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  "documentTitle": "Oil Gas EP Incentive Compensation",
  "authorId": "AlvarezMarsal",
  "authorName": "Alvarez & Marsal",
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  "notes": "The slide presents two tables comparing CEO and CFO incentive payout structures (Threshold, Target, Maximum) across percentiles.",
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      "text": "When disclosed, threshold payout is generally one-half of the target and maximum payout is two times the target.",
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      "text": "Incentive payout as % of base salary: 200%",
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      "text": "As the energy sector suffered from depressed commodity prices, many companies adjusted their performance metrics in response. Companies shifted away from solely using growth metrics such as production to focus their efforts on existing, successful wells, scaling back on unprofitable production, promoting health and safety and lowering overall costs. Additionally, companies that utilize production and/or reserve metrics also shifted toward balancing their AIPs with financial metrics, to ensure that executives focus on profitable growth rather than growth at any cost. Some companies also added a discretionary component to their AIPs due to the state of uncertainty in the marketplace.",
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      "text": "The following tables show the threshold, target and maximum level of annual incentive awards as a percentage of base salary for CEOs and CFOs. When disclosed, threshold payout is generally one-half of the target and maximum payout is two times the target. These findings are consistent with our prior studies.",
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      "text": "PAYOUT MULTIPLES",
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      "text": "EFFECT OF RECENT MARKET CONDITIONS",
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