other_material
confidence high
sentiment neutral
materiality 0.35
Oceaneering amends CEO change of control pact and adopts ELT severance plan
OCEANEERING INTERNATIONAL INC
- CEO change of control agreement amended; severance conditioned on release of claims and restrictive covenants; outplacement for 24 months.
- Change of Control Plan amended: prorated short-term incentive based on actual performance (personal goals at target); outplacement 12 months.
- Executive Leadership Team Severance Plan adopted: severance of 1x (execs) or 2x (CEO) base salary plus target STI, prorated STI, equity vesting, COBRA.
- All severance benefits require execution of release of claims and compliance with non-compete, non-solicitation, non-disparagement, and confidentiality covenants.
item 5.02item 9.01