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Effective January 1, 2005, Marathon Oil Corporation will pay its non-employee directors as follows:
Annual Retainer | $60,000 | |
Annual Non-Retainer Common Stock Unit Award | $60,000 | |
Committee Membership Fee | $5,000 ($10,000 for audit committee chair) ($6,000 for other committee chairs) | |
Meeting Fee (for board or committee attendance) | $2,000 |
In addition to the annual retainer, Marathon will pay its Chairman of the Board, Mr. Usher, a chairman's fee of $240,000 in 2005. The chairman does not receive meeting fees for his attendance.
Director Compensation