Dec 18 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
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.