https://www.anadarko.com/content/documents/apc/HRBenefits/HRBP/APCCoCSeverancePlanSPD2011.pdf
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Does Oxy have a mandatory retirement age
Today, Oxy announced that the Century Park deal was off, and the property would be put up for sale, and Oxy will keep the Woodlands and Greenway buildings.
Sorry for those that wished otherwise. One less trigger.
An amendment was filed with SEC which signals we are closer to getting their approval (at least first questions were answered). APC employees will know soon after close if Oxy will be "fair" with the voluntary retirement package. I hope it includes retiree medical. It does for Oxy employees....
It has been said that they need the employees. If that were true, Oxy wouldn't have their own VSP prior to close. They might need the field personal, but Accounting and IT will have a lot of overlap.
By the way, we are supposed to utilize an internal admin committee for COC cases. Are these people independent of oxy after the merger or appointed by oxy?
My understanding is we have 90 days to raise an issue and up to 90 days for response. After that if one doesn’t agree with outcome is lawyer time? Probably that means you walk and file a lawsuit?
The ones stating 3 or more years must be including their LTI stock that will automatically vest when receiving the COC. They no longer have to wait for 3 years to get all the stock.
Max of 24 months pay.. not bad at all, but not as good as some people were making it sound (4+ years of pay).
Record this on your phones, folks, before it vanishes!