The
gas
giant's
board
of
directors,
revamped
last
summer,
made
the
decision
as
part
of
a
process
of
"adopting
a
compensation
philosophy
that
emphasises
pay
for
performance".
Chesapeake
spent
much
of
2012
scrambling
to
sell
off
assets
as
it
confronted
a
multi-billion-dollar
funding
gap,
as
natural
gas
prices
tanked.
The
SEC
filing
on
Monday
said
the
decision
not
to
award
McClendon
a
bonus
came
"following
his
recommendation
to
such
effect".
The
news
follows
a
year
of
heavy
scrutiny
into
McClendon's
practices
as
head
of
the
company.
A
unique
clause
in
his
contract…
