Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March 6, 2009, the Board of Directors of Chesapeake Energy Corporation (the
"Company") approved the immediate vesting, for Douglas J. Jacobson, Executive
Vice President- Acquisitions and Divestitures, of 76,000 unvested shares of
restricted stock previously awarded to Mr. Jacobson under the Chesapeake Energy
Corporation 2003 Stock Incentive Plan. Mr. Jacobson is currently over 55 years
of age and such vesting is consistent with the Board of Directors' vesting of
shares previously awarded to several of the Company's senior executives over age
55 in June 2008.
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