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This excerpt taken from the DVN DEF 14A filed Apr 24, 2009. Normal
Retirement
Employees, including the named executive officers, are eligible
for normal retirement benefits under the Defined Benefit Plan
upon reaching age 65. Normal retirement benefits for the
named executive officers are equal to 60% of the
executive’s final average compensation less any benefits
due to the participant under Social Security, multiplied by a
fraction, the numerator of which is his or her credited years of
service and the denominator of which is his or her estimated
years of service at normal retirement age (not less than
25 years).
This excerpt taken from the DVN DEF 14A filed Apr 28, 2008. Normal
Retirement
Employees, including the named executive officers, are eligible
for normal retirement benefits under the Defined Benefit Plan
upon reaching age 65. Normal retirement benefits for the
named executive officers are equal to 60 percent of the
executive’s final average compensation less any benefits
due to the participant under Social Security, multiplied by a
fraction, the numerator of which is his or her credited years of
service and the denominator of which is his or her estimated
years of service at normal retirement age (not less than
25 years).
This excerpt taken from the DVN DEF 14A filed Apr 27, 2007. Normal
Retirement
Employees, including the named executive officers, are eligible
for normal retirement benefits under the Defined Benefit Plan
upon reaching age 65. Normal retirement benefits for the
named executive officers are equal to 60% of the
executive’s final average compensation less any benefits
due to the participant under Social Security, multiplied by a
fraction, the numerator of which is his or her credited years of
service and the denominator of which is his or her estimated
years of service at normal retirement age (not less than
25 years).
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