Noble Energy in retention, confidentiality agreements with two senior VPs

theflyonthewall.com

Noble Energy disclosed in a regulatory filing that on May 1 the company entered into retention and confidentiality agreements with Ted Brown and Rodney Cook, each a senior VP and advisor to the CEO of the company. The agreements provide for the executive's employment with the company to continue until June 30, 2014 and in return the executive will receive continued vesting of unvested stock options and shares of restricted stock previously awarded to that executive. The original agreements that govern these equity awards provided that all unvested stock options and unvested shares of restricted stock would be forfeited by the executive upon termination of his employment.

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