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Eugene Isenberg, Nabors Industries
With total compensation of $79.3 million, Eugene Isenberg ranked No. 8 on the list of 10 highest paid CEOs, according to Corporate Library.

In 2008, shares of the oil and gas drilling company plummeted 51%, although the company's stock has outperformed industry rivals over the last 12 months.

Isenberg's total compensation was driven mostly by a $58.7 million bonus, which was calculated based on a percentage of the company's cash flow. Over the years, this formula has resulted in $625 million in "aggregate bonuses" for Isenberg.

A Nabors spokesman said Isenberg recently renegotiated his contract and that his bonus formula is now based less on company cash flow.

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Last updated September 28 2009: 9:42 AM ET
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