(Energy Analytics Institute, 8.Oct.2024) — On 8 Oct. 2024, Tellurian Inc. completed its previously announced merger with Woodside Energy.
On said date, Woodside and Tellurian entered into a separation agreement and general release with: Daniel A. Belhumeur, President, Tellurian, Samik Mukherjee, President, Tellurian Investments, and Simon G. Oxley, Executive Vice President and Chief Financial Officer, Tellurian announced 8 Oct. 2024 in a Form 8-K filing with the Securities and Exchange Commission (SEC).
Per the agreement, Belhumeur, Mukherjee and Oxley are entitled to the compensation and benefits provided in accordance with the amended and restated Tellurian executive severance plan in exchange for a release of claims against Tellurian or Woodside and related parties, including, the following:
(i) cash severance in an aggregate amount equal 100% of the Executive’s current annual base salary, payable in a single lump sum;
(ii) an additional cash amount equal to 100% of the executive’s target short-term incentive under the Tellurian. Incentive Compensation Program for 2024, payable in a single lump sum;
(iii) subject to the executive’s timely election of continuation coverage under COBRA, subsidized COBRA continuation coverage for the Executive and the executive’s eligible dependents for up to 18 months; and
(iv) outplacement services at a level commensurate with the executive’s position for a period of 18 months following the separation date.
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By Editors at Energy Analytics Institute. More online at www.Energy-Analytics-Institute.org
