How long will APC’s change iof ownership severance apply? At what point in the process does it cease and you are under Chevron’s regular severance policy? Just trying to think of what situation they could screw you out of that.
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Personnel will be terminated after merger and decisions made for redundancies, efficiencies and the rest. In this type of business, short changing on nickel and dimes is not good practice and benefit. e&P operators know better and the ones left behind will pay attention.if i am not cut but see others mistreated it is a clear message to jump ship on first chance. Competent management understands the morale impact and at same time this is not 2015-2016 with no jobs out there.
Thanks for the jargin. So are APC employees at this time under the APC severance? When will it switch to Chevron? Since technically they don't own APC yet?
Amendment/Termination
Until a Change of Control occurs, the Company reserves the right to amend or terminate the Plan; provided, that, in connection with or in anticipation of a Change of Control, the Plan may not be terminated or amended in a way that would adversely affect Participants’ rights. Upon the occurrence of a Change of Control, the Plan will no longer be subject to termination or amendment in any way that would adversely affect the rights of Participants.
Any questions concerning benefits under the Plan should be directed to the Human Resources Department of the Company.
What are the severance terms? They should say how long. Usually one year. Is it a good package?