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TMCNet:  SOUTHWESTERN ENERGY CO FILES (8-K) Disclosing Change in Directors or Principal Officers

[December 10, 2013]

SOUTHWESTERN ENERGY CO FILES (8-K) Disclosing Change in Directors or Principal Officers

(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) On December 5, 2013, Harold M. Korell, Chairman of the Board of Directors of Southwestern Energy Company (the "Company"), informed the Board that he will not stand for reelection at the May 2014 annual meeting of stockholders. The Board intends at that time to elect Steven L. Mueller, the Company's President and Chief Executive Officer, as Chairman while continuing as CEO.

On December 6, 2013, the Company's Board of Directors elected Jeffrey B.

Sherrick Executive Vice President, Corporate Development. Mr. Sherrick previously had been Senior Vice President, Corporate Development.

(e) On December 5, 2013, after consideration and a review of a number of factors, including but not limited to performance, competitive market data and the recommendations of outside compensation consultants, the Compensation Committee of the Board of Directors of the Company approved the 2014 annual base salaries for the Named Executive Officers from the proxy statement for the Company's 2013 annual meeting of stockholders who are current employees of the Company to be as follows: Steven L. Mueller, President and Chief Executive Officer, $900,000; William J. Way, Executive Vice President and Chief Operating Officer, $650,000; Mark K. Boling, Executive Vice President and President, V+ Development Solutions, $500,000; R. Craig Owen, Senior Vice President and Chief Financial Officer, $435,000; and Jeffrey B. Sherrick, Senior Vice President (now Executive Vice President), Corporate Development, $420,000. The Compensation Committee also granted annual incentive compensation awards and long-term compensation awards to these Named Executive Officers under the 2013 Incentive Plan consistent with that plan as described in the proxy statement for the 2013 annual meeting.


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