Cve/hse Executives have jobs secured and big retention bonuses.... see joint management circular for dec15 vote (pg69)
Cenovus Incentives
Completion of the Arrangement will result in the acceleration of the vesting of the Cenovus Options, Cenovus PSUs and Cenovus RSUs held by non-executive officers of Cenovus. In accordance with their terms, the Cenovus PSUs and the Cenovus RSUs may be settled, at the discretion of Cenovus, in Cenovus Common Shares, cash, or a combination of Cenovus Common Shares and cash, following the Effective Time based on the thirty-day volume weighted average trading price of the Cenovus Common Shares on the TSX prior to the Effective Date. The payout of such Cenovus Options, Cenovus PSUs and Cenovus RSUs will be determined in accordance with the terms of the applicable Cenovus Incentive Plan, without the making of any adjustments (including as a consequence of the Arrangement) or other determinations pursuant to the terms of the Cenovus Incentive Plans or any Cenovus Incentives granted thereunder.
If a holder of Cenovus DSUs is terminated as a director or employee of Cenovus, as applicable, in connection with the Arrangement, then the Cenovus DSUs held by such holder will be settled and redeemed in accordance with the terms of the applicable Cenovus DSU Plan, without the making of any adjustments or other determinations pursuant to the terms of the applicable Cenovus DSU Plan or any Cenovus DSUs granted thereunder. In accordance with their terms, the Cenovus DSUs for non-continuing directors or employees will be settled in cash following the Effective Time on the applicable redemption date based on the five-day volume weighted average trading price of the Cenovus Common Shares on the TSX prior to such redemption date.