About 1,600 Chesapeake Workers Would Get Payments in Event of Change of Control -Reuters

Date : 07/17/2012 @ 3:19PM
Source : Dow Jones News
Stock : Chesapeake Energy Corp. (CHK)
Quote : 5.67  0.0 (0.00%) @ 4:24AM

About 1,600 Chesapeake Workers Would Get Payments in Event of Change of Control -Reuters

Chesapeake (NYSE:CHK)
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About 1,600 Chesapeake Energy Corp. (CHK) employees would receive contractually-promised payments in the event of a change of control, Reuters reported Tuesday, citing company documents.

Change-of-control payments would total at least $100 million and could reach $140 million, according to the report.

A Chesapeake spokesman said the recent overhaul of the company's board didn't trigger the provisions, Reuters reported.

Full story at http://www.reuters.com/article/2012/07/17/us-chesapeake-bonuses-idUSBRE86G0DX20120717

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