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February 27, 2001
Conoco Gives Employees Home Computers, Stock Options
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Conoco is the first major energy company to award employees globally with a personal learning tool, and the first company to combine that investment with a stock option grant.
"Technology is impacting our personal and professional lives daily. The new high-tech learning tool you receive & should enhance your personal growth, expand your horizons and advance your capabilities. This, in turn, will enhance the growth of Conoco," Chairman and CEO Archie W. Dunham told employees at a meeting.
Most employees will select one of the following five learning tool packages:
- Computer, monitor, color jet printer and fax modem;
- Flat panel multimedia monitor and speakers;
- Digital camcorder;
- Digital camera, color jet printer and compact CD player/storage device; or
- Pocket personal computer and digital camera.
Dunham's announcement occurred simultaneously with "Pie Day," Conoco's sixth annual celebration of non-management employees sharing a piece of the "financial pie" by receiving performance-related pay incentives of $56 million. Under this variable compensation program, called "Conoco Challenge," eligible employees globally will receive an average payout of 11.4 percent of annual salary - the highest in the program's history.
2-27-01