ConocoPhillips Transition Award Proration Agreement for Matt Fox

Contract Categories: Human Resources › Separation Agreements
Summary

ConocoPhillips has approved special arrangements for Matt Fox, Executive Vice President and Chief Operating Officer, as he retires. The agreement allows for prorated vesting of his 2021-2023 Performance Share Units and 2021 Executive Restricted Stock Unit award, waiving the usual one-year employment requirement for the performance shares. The number of restricted stock units retained will be based on the number of full months worked in the year of retirement. All other terms of the awards remain unchanged.

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EX-10.1 8 d063021dex101.htm EX-10.1 d063021dex101
 
Exhibit 10.1
 
 
 
ConocoPhillips
925 N. Eldridge Parkway
Houston, TX 77079
www.conocophillips.com
 
 
 
 
 
The Human Resources and Compensation Committee approved the following
 
actions to
facilitate an orderly transition of responsibilities
 
from Matt Fox, Executive
 
Vice President and
Chief Operating Officer upon retirement:
 
●
 
A proration for the Performance
 
Share Units for the 2021-2023 Performance Period of
the Performance Share Program, waiving
 
the usual requirement for at least one year of
employment with regard to an award
 
to avoid forfeiture
 
of the award,
 
all other terms
and conditions for this award remain unchanged; and
 
●
 
A proration for the 2021 Executive
 
Restricted Stock Unit award where the number of
units retained will be determined by multiplying the original number of units by a
fraction, the numerator of which is the number of full months of employment from
February 1, 2021 and the date of retirement and the denominator of 12, all other terms
and conditions for this award remain unchanged.