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This excerpt taken from the EOG DEF 14A filed Mar 25, 2009. Payments
Made Upon Termination Under EOG Resources, Inc. Severance Pay
Plan
Messrs. Garrison and Driggers are subject to the terms and
conditions of the EOG Resources, Inc. Severance Pay Plan
(“Severance Pay Plan”). The following describes
payments to be received under such plan in the event of
termination of employment for the specified reason.
Involuntary
Termination
Unless otherwise declared ineligible, employees who are
terminated by EOG other than for cause may receive lump-sum
severance payments. The amount of the lump-sum severance payment
will be determined by management, but may not exceed
52 weeks of base pay.
Voluntary
Termination
An employee who voluntarily terminates employment with EOG is
not eligible for severance pay.
Cause
Employees terminated for cause are not eligible for severance
pay. An employee may generally receive two weeks of annual base
salary, however, if the employee returns to EOG a properly
executed waiver and release of claims following termination.
Incapacity
or Death
Termination of employment by reason of incapacity or death is
not covered by the Severance Pay Plan.
This excerpt taken from the EOG DEF 14A filed Apr 4, 2008. Payments
Made Upon Termination Under EOG Resources, Inc. Severance Pay
Plan
Mr. Garrison and Mr. Driggers are subject to the terms
and conditions of the EOG Resources, Inc. Severance Pay Plan.
The following describes payments to be received under such plan
in the event of termination of employment for the specified
reason.
Involuntary
Termination
Unless otherwise declared ineligible, employees who are
terminated by EOG other than for cause may receive lump-sum
severance payments. The amount of the lump-sum severance payment
will be determined by management but may not exceed
52 weeks of pay.
Voluntary
Termination
An employee who voluntarily terminates employment with EOG is
not eligible for severance pay.
Cause
Employees terminated for cause are not eligible for severance
pay. However, an employee may generally receive two weeks of
base pay if the employee returns a properly executed waiver and
release of claims following termination.
Death
or Incapacity
Termination of employment by reason of death or incapacity is
not covered by the EOG Resources, Inc. Severance Pay Plan.
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