Marathon Oil COO leaves with $4.6 mln severance

Tue Dec 18, 2012 11:43am EST

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Dec 18 (Reuters) - Marathon Oil Corp's former Chief Operating Officer Dave Roberts will receive $4.6 million in severance, according to a filing made with the U.S. Securities and Exchange Commission on Tuesday.

The company said on Dec. 10 that the executive would leave the company on Dec. 14, without providing a reason for the departure.

In 2011, Roberts was the second-highest-paid executive at Marathon behind Chief Executive Officer Clarence Cazalot.

According to the company's proxy statement filed in 2012, Roberts took home about $10 million in total compensation, compared with $31.5 million for Cazalot.

Marathon's top executive officers do not have severance agreements, the proxy statement said.

Shares of Marathon Oil, which split off its refining business in June 2011, have risen 5.5 percent so far this year.

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