Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) As previously disclosed, effective May 19, 2009, the Board of Directors of Southwestern Energy Company (the "Company") elected Steven L. Mueller as the President and Chief Executive Officer of the Company and Harold M. Korell, the Company's previous Chief Executive Officer, was elected as the Executive Chairman of the Board of Directors. At the time of these elections, the compensation arrangements for fiscal year 2009 then in effect were not changed. Subsequently, the Compensation Committee of the Board of Directors engaged a compensation consultant to evaluate and make recommendations as to the appropriate salaries for Messrs. Mueller and Korell in their new positions and conducted a separate evaluation of the compensation to be paid to Messrs. Mueller and Korell, including an evaluation of their responsibilities in such new positions. On July 16, 2009, based on the consultant's recommendations and other factors deemed relevant by the Committee, the Compensation Committee revised the annual base salaries of Messrs. Mueller and Korell, effective as of August 1, 2009 (the "Effective Date"). Mr. Mueller's annual base salary as President and Chief Executive Officer of the Company shall be increased from $480,000 to $600,000, and Mr. Korell's annual base salary as Executive Chairman of the Company shall be decreased from $725,000 to $600,000, in each case prorated and payable from the Effective Date. Except as affected by the change in their respective annual base salary, all other elements of compensation for Messrs. Mueller and Korell shall remain the same following the Effective Date.

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