Below are highlights of the compensation programs and some of the additional benefits and plans available to most U.S.-paid employees at ConocoPhillips. This is not a summary plan description or official plan document. If there is any conflict between this information and the official plan documents, the official plan documents will govern.
See also:
Health and Welfare Benefits
| Compensation |
- Regular base pay (including overtime for non-exempt and hourly jobs)
- Annual cash bonus based upon company, business and individual performance
- Eligibility for Restricted Stock Units at certain grade levels
- Annual salary adjustment opportunities
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| Retirement Plan |
- All new hires participate in a cash balance plan
- Eligible on the first day of the month after start date
- 6, 7 or 9% of pay added monthly to your account based upon age and service years points
- Interest added monthly to your account based upon prior month's balance
- Interest crediting rate is tied to the 30-year Treasury Securities Rate
- 100% vested after 3 years of service (at least 1000 hours per year)
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| Savings Plan |
- The plan has a Stock Savings Feature and a Thrift Feature. Employees may enroll in one or both features.
- In the Stock Savings Feature, employees may contribute 1% of eligible pay on a before-tax basis, an after-tax basis or Roth 401(k) basis to be invested in ConocoPhillips stock. Participating employees receive a semiannual allocation of ConocoPhillips stock based on their contributions to the Stock Savings Feature during the allocation period. The target allocation is 8%, which means participating employees could receive $8 for every $1 contributed. Employees can immediately diversify by transferring some or all of ConocoPhillips stock into a wide range of investment funds options available under the plan.
- In the Thrift Feature, employees may contribute up to 75% of eligible pay on a before-tax, after-tax, or Roth 401(k) basis. The Company will match $1 for $1 up to 1.25% of eligible pay. Employees have a wide range of investment funds among which to invest their contributions and the Company matching contributions.
- Generally, active employees on the direct U.S. dollar payroll of a ConocoPhillips company that has adopted this plan are immediately eligible to participate in the plan.
- Participants are immediately 100% vested in all amounts credited to their account including the company semi-annual allocation and matching contributions.
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| Paid Time Off |
- Vacation, Holidays, Family illness
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