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February 27, 2001
Conoco Gives Employees Home Computers, Stock Options
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STON - Conoco says it will make an investment in its employees' personal growth by giving them a new computer or other high-tech learning tool for the home, as well as a grant of stock options or stock appreciation rights.

Conoco is the first major energy company to award employees globally with a personal learning tool, and the first company to combine that investment with a stock option grant.

"Technology is impacting our personal and professional lives daily. The new high-tech learning tool you receive & should enhance your personal growth, expand your horizons and advance your capabilities. This, in turn, will enhance the growth of Conoco," Chairman and CEO Archie W. Dunham told employees at a meeting.

Most employees will select one of the following five learning tool packages:

  • Computer, monitor, color jet printer and fax modem;

  • Flat panel multimedia monitor and speakers;

  • Digital camcorder;

  • Digital camera, color jet printer and compact CD player/storage device; or

  • Pocket personal computer and digital camera.

Dunham's announcement occurred simultaneously with "Pie Day," Conoco's sixth annual celebration of non-management employees sharing a piece of the "financial pie" by receiving performance-related pay incentives of $56 million. Under this variable compensation program, called "Conoco Challenge," eligible employees globally will receive an average payout of 11.4 percent of annual salary - the highest in the program's history.

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