For U.S.-paid employees (excluding store, union, and Burlington employees)
Highlights
When corporate events result in involuntary loss of employment, the CPSPP provides employees who meet the plan requirements with severance benefits that can be a measure of security during transition. Eligibility is described in more detail in the SPD. Generally, eligible participants include regular full-time or part-time employees on the U.S. direct dollar payroll with at least one year of company service (excluding store, union, and Burlington employees). The benefits include:
- Basic/Minimum Benefit: 4 weeks’ pay.
- Supplemental Benefit: 3 weeks’ pay per each year of service, less the Basic Benefit – a General Release of Liability must be signed and returned to be eligible.
- Maximum benefit is 60 weeks pay as a lump sum.
- Educational reimbursement up to $2,000 for approved tuition, required fees and books with a one-year limit to complete courses.
Learn More
Each year, ConocoPhillips is required to make Summary Annual Reports available to its benefit plan participants and surviving beneficiaries with an interest in the plans.
Learn more.