What happens with Pogo stock options granted before the merger?
Per the merger agreement, Pogo stock options will be converted into a cash value based on the difference of the Aggregate Consideration Per Share and original strike price of the option at the time of the grant. PAYROLL PRACTICES AND TIMEKEEPING SYSTEM How will I know if I am considered a salaried exempt, salaried non-exempt, or hourly employee under PXP’s payroll practices? Each employee who is offered continued employment will receive a written employment offer letter. That letter will provide the pay status for the position. Salaried Exempt and Non-Exempt Employees Paid Semi-Monthly While the majority of changes will become effective on 1/1/08, there will be a few changes that will be effective at change in control for salaried exempt and non-exempt employees. · Houston employees will move to a regular 40 hour work week. · Non-exempt employees will be eligible for overtime for hours worked over 40 in a workweek. Exempt employees are not eligible for overtime. · Parking subsidies wil
