Read your award letter. Mine says "between 0-6 months from award they are terminated; between 6-12 months from award they are prorated; and after 12 months from award they are exercised"
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Read the severance policy.
They will expire worthless.
Stock Options
The treatment of stock options will vary depending on the reason for leaving the company. Generally, vested
stock options can be exercised any time prior to the 10th anniversary of the grant date. Unvested options may
either vest or be forfeited upon termination. See the terms and conditions for each award to determine the
effects of termination on the award. Award terms and conditions can be found in your Merrill Lynch online
account or in HR Express
http://hrcpdocctr.conocophillips.com/Documents/HR-documents/Leaving_the_Company_Summary_final.pdf