Exhibit 99.1

 

Summary Compensation Table

 

Crosstex Energy, L.P. does not directly employ any of the persons responsible for managing its business.  The term “our” is used herein as an abbreviated reference to Crosstex Energy, L.P.   Crosstex Energy GP, LLC, our general partner, manages our operations and activities, and its board of directors and officers make decisions on our behalf.  The following table sets forth certain compensation information for our named executive officers, each of which is employed by Crosstex Energy GP, LLC.  Our named executive officers also serve as officers of Crosstex Energy, Inc. and the compensation of the named executive officers in the table below reflects total compensation for services to all Crosstex entities.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in
Pension

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Equity
Incentive

 

value and
Nonqualified
Deferred

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock

 

Option

 

Plan

 

Compensation

 

All Other

 

 

 

Name and

 

 

 

Salary

 

Bonus

 

Awards

 

Awards

 

Compensation

 

Earnings

 

Compensation

 

Total

 

Principal Position

 

Year

 

($)

 

($)(1)

 

($)(2)

 

($)

 

($)

 

($)

 

($)

 

($)

 

Barry E. Davis

 

2012

 

500,000

 

406,250

 

1,333,787

 

—

 

—

 

—

 

257,496

(3)

2,497,533

 

President and

 

2011

 

460,000

 

545,882

 

1,418,773

 

—

 

—

 

—

 

195,958

 

2,620,613

 

Chief Executive Officer

 

2010

 

435,000

 

427,970

 

—

 

—

 

—

 

—

 

71,725

 

934,695

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

William W. Davis

 

2012

 

385,000

 

225,225

 

800,272

 

—

 

—

 

—

 

185,462

(4)

1,595,959

 

Executive Vice President and

 

2011

 

352,692

 

376,675

 

917,837

 

—

 

—

 

—

 

151,644

 

1,798,848

 

Chief Operating Officer

 

2010

 

330,000

 

280,315

 

—

 

—

 

—

 

—

 

63,083

 

673,398

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Joe A. Davis

 

2012

 

335,000

 

230,000

 

640,212

 

—

 

—

 

—

 

156,960

(5)

1,362,172

 

Executive Vice President and

 

2011

 

315,000

 

242,992

 

620,948

 

—

 

—

 

—

 

145,004

 

1,323,944

 

General Counsel

 

2010

 

300,000

 

254,832

 

—

 

—

 

—

 

—

 

62,181

 

617,013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Michael J. Garberding

 

2012

 

290,000

 

230,000

 

640,212

 

—

 

—

 

—

 

138,874

(6)

1,299,086

 

Executive Vice President and

 

2011

 

256,538

 

197,894

 

848,713

 

—

 

—

 

—

 

88,124

 

1,391,269

 

Chief Financial Officer

 

2010

 

225,385

 

106,084

 

240,157

 

—

 

—

 

—

 

31,811

 

603,437

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stan Golemon

 

2012

 

275,000

 

89,375

 

533,515

 

—

 

—

 

—

 

99,281

(7)

997,171

 

Senior Vice President

 

2011

 

249,615

 

124,808

 

445,253

 

—

 

—

 

—

 

80,363

 

900,039

 

 

 

2010

 

230,000

 

111,412

 

—

 

—

 

—

 

—

 

32,023

 

373,435

 

 

(1)             Bonuses include all payments made under the Annual Bonus Plan. For 2012, the named executive officers received bonuses in the form of stock awards that immediately vest. The amounts shown for 2012 represent the grant date fair value of awards computed in accordance with FASB ASC 718.  Such awards were allocated 50% in restricted units of Crosstex Energy, L.P. and 50% in restricted stock of Crosstex Energy, Inc. with a fair market value of $17.56 per unit and $16.94 per share, respectively. See “Bonus Awards” in our Annual Report on Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission on March 1, 2013 (the “Original Filing”).

(2)             The amounts shown represent the grant date fair value of awards computed in accordance with FASB ASC 718. See Note 9 to our audited financial statements included in Item 8 of the Original Filing for the assumptions made in our valuation of such awards.

(3)             Amount of all other compensation for Mr. Barry Davis includes professional organization and social club dues, a matching 401(k) contribution of $22,500, distributions on restricted units and performance units of Crosstex Energy, L.P. in the amount $157,448 in 2012, and dividends on restricted stock and performance shares of Crosstex Energy, Inc. in the amount of $75,139 in 2012.

(4)             Amount of all other compensation for Mr. William Davis includes professional organization and social club dues, a matching 401(k) contribution of $22,500 distributions on restricted units and performance units of Crosstex Energy, L.P. in the amount of $109,638 in 2012 and dividends on restricted stock and performance shares of Crosstex Energy, Inc. in the amount of $50,914 in 2012.

(5)             Amount of all other compensation for Mr. Joe Davis includes professional organization and social club dues, a matching 401(k) contribution of $21,519, distributions on restricted units and performance units of Crosstex Energy, L.P. in the amount of $91,576 in 2012, and dividends on restricted stock and performance shares of Crosstex Energy, Inc. in the amount of $41,456 in 2012.

(6)             Amount of all other compensation for Mr. Michael Garberding includes professional organization and social club dues, a matching 401(k) contribution of $17,000, distributions on restricted units of Crosstex Energy, L.P. in the amount of $80,058 in 2012, and dividends on restricted stock of Crosstex Energy, Inc. in the amount of $39,406 in 2012.

(7)             Amount of all other compensation for Mr. Stan Golemon includes a matching 401(k) contribution of $15,104, distributions on restricted units of Crosstex Energy, L.P. in the amount of $57,385 in 2012, and dividends on restricted stock of Crosstex Energy, Inc. in the amount of $26,793 in 2012.