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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 and 15(d) of
the Securities Exchange Act of 1934
March 3, 2010
Date of Report (Date of earliest event reported)
(Exact Name of Registrant as Specified in Its Charter)
Delaware 1-1204 (IRS Employer
(State of Incorporation) (Commission File Number) Identification No.)
1185 Avenue of the Americas
New York, New York 10036
(Address of Principal Executive Office)
(Registrant's Telephone Number, Including Area Code)
(Former Name or Former Address,
If Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On March 3, 2010, the Compensation and Management Development Committee ("the
Committee") of Hess Corporation ("the Company") approved target cash bonuses for
the chief executive officer, chief financial officer and three most highly
compensated executive officers (other than the chief executive officer and chief
financial officer) of the Company for 2010. One-third of the bonus is payable
based upon attainment of a specified target level of a corporate performance
measure, one-third is based upon the attainment of specified business unit
metrics, and one-third is discretionary based on individual performance and
other qualitative factors. Payouts may range from 0% to 150% for each component
of the target bonus, based on the percentage of attainment of the corporate and
business unit performance measures and, with respect to the individual
performance component, the Committee's determination of an appropriate amount.
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date: March 9, 2010
By: /s/ Timothy B. Goodell
Name: Timothy B. Goodell
Title: Senior Vice President and