Anadarko CEO's 2008 Pay Slips 17 Percent

The Associated Press' calculations of total compensation include salary, bonus, performance-related incentives, perks, any above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. They may vary from totals listed in the summary compensation table in the company's proxy filed with the SEC.

According to Anadarko's proxy filing, the compensation committee benchmarks its executive pay practices against a peer group of companies that includes Chevron Corp., Devon Energy Corp. and Noble Energy Inc.

The committee also has established a guideline for Hackett to own shares having a value of five times his base salary in order to align his interests with those of shareholders.

Anadarko's net income fell 13 percent in 2008 to $3.3 billion, or $7.05 a share, from $3.8 billion, or $8.08 a share, a year earlier. Full-year revenue dropped slightly to $15.7 billion from $15.9 billion in 2007.

Meanwhile, the company's stock declined 41 percent during 2008 to end the year at $38.55. In afternoon trading Friday, the stock shed 57 cents to $36.28.