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.

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