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Former Apache CEO to collect $12M cash for retirement

Jan. 23, 2015 6:43 PM ETAPA Corporation (APA) StockAPABy: Carl Surran, SA News Editor6 Comments
  • Steve Farris, who retired earlier this week as Apache's (NYSE:APA) CEO, stands to collect ~$12M in salary and bonus over the next three years as part of his retirement package, according to an SEC filing.
  • Farris will act as a consultant to APA for the next three years and will collect his $1.75M annual salary during that time, as well as two bonus payments of $2.6M each and a lump sum of $1.4M; he also is entitled to the vesting of all his restricted stock and options.

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