PDC » Topics » POTENTIAL PAYMENTS UNDER TERMINATION OR CHANGE OF CONTROL

This excerpt taken from the PDC DEF 14A filed Apr 10, 2009.

POTENTIAL PAYMENTS UNDER TERMINATION OR CHANGE OF CONTROL

The Compensation Committee views change in control and non-change in control severance protection for officers as a necessary part of compensation to remain competitive in the market. A substantial majority of oilfield service companies provide such benefits. While the Compensation Committee recognizes there are variation in types, amounts, eligibility requirements and other terms and conditions among companies, the aggregate potential value remains competitive and does not significantly vary from similar programs at peer group companies.

This excerpt taken from the PDC DEF 14A filed Apr 11, 2008.
POTENTIAL PAYMENTS UNDER TERMINATION OR CHANGE OF CONTROL
 
The Compensation Committee views change in control and non-change in control severance protection for officers as a necessary part of compensation to remain competitive in the market. A substantial majority of oilfield service companies provide such benefits. While the Compensation Committee recognizes there are variation in types, amounts, eligibility requirements and other terms and conditions among companies, the aggregate potential value remains competitive and does not significantly vary from similar programs at peer group companies.
 
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