Benefits

To attract, reward, and retain top performers, Apache provides a challenging and rewarding work environment, supported by a total compensation program that includes competitive base salaries and benefits along with performance-driven incentives.

The summaries below are only a brief outline of the current programs available to U.S. employees. Compensation and benefit plans outside the US may differ according to local customs and competitive practices.

Compensation 

Apache believes in paying for performance, and this philosophy is embodied in our competitive base salaries and a generous incentive plans.

Growth in base pay will reflect the individual’s performance and growth in their contribution to the success of the company. In addition, variable incentives are offered to reward both individual, organization, and corporate performance and achievement. .

Stock Options

Because employees drive the success of the company, Apache believes they should share in that success, and is an industry-leader in extending stock option awards to all regular, full-time employees. Options are typically awarded annually, with the amount of the award determined by level in the company and performance.

Savings & Retirement

Apache provides two retirement plans to help employees build long-term financial security:

• 401(k) Savings Plan – Allows employees to defer up to 25% of their salary on a pre-tax basis (subject to IRS limitations). The company matches the employee’s contribution, up to 6% of salary, dollar for dollar. The plan is administered by Fidelity Investments, and employees have the flexibility to direct the investment of both their contributions and the company match among a range of investment options with Fidelity. Vesting of the company match is at 20% per year.
• Money Purchase Retirement Plan – Each year Apache contributes 6% of the employee’s prior year earnings (base pay, annual incentive bonus and overtime, if applicable) to a retirement savings account, again managed through Fidelity Investments. As with the 401(k) plan, employees may choose how the contributions are invested the options offered by Fidelity. Vesting of the company contribution is at 20% per year.

Health Care

Medical Coverage — The medical coverage offered to employees may differ by work location. The possible options are briefly described below:

• Preferred Provider Organization (PPO) – Available in major metropolitan areas. Employees select any doctors, hospitals, or other service providers within the network, with no referral necessary. Following a co-payment, the plan pays 100% of most doctor visits, and 90% of the cost of network inpatient or outpatient hospital services. The employee’s share of the cost is higher if non-network providers or facilities are used.
• Passive PPO – A traditional comprehensive plan available in locations lacking many network providers. The choice of doctors is open-ended, and after meeting an annual deductible, the employee is reimbursed a percentage of all covered charges.
  

Dental Coverage — The dental plan encourages participants to see their dentist by covering preventive services at 100%, and provides coverage for basic and major dental work. Under the comprehensive plan you can go to any dentist and are reimbursed for covered charges up to an annual limit, after you pay an annual deductible for basic and major services.

Vision Coverage — Apache provides coverage for a basic annual eye examination, at a participating provider, for each employee at no charge. Additional coverage for family members or to help with the cost of glasses may be purchased.

Health Care Spending Account — The Health Care Spending Account allows employees to set aside up to $5,000 on a tax-free basis to pay for medical, dental, vision and hearing expenses for themselves and their dependents which are not paid by insurance or other medical coverage.

Retiree Medical — A Retiree Medical plan is available for Apache’s early retirees and their eligible dependents. Initial eligibility commences at age 55 for employees with at least five years service. Eligibility ends at age 65, or the Medicare eligibility date, if later.

Employee Assistance Plan (EAP) — The EAP provides free, confidential, professional counseling and referral services as needed for employees and their dependents. The EAP is available for family/relationship conflict, emotional stress, alcohol/drug abuse, legal concerns and financial counseling.

Other Benefits

Life Insurance — Basic life insurance of two times annual base salary is provided at no cost to the employee. Supplemental life insurance can be purchased for up to four times base salary at group rates. Employees can also purchase coverage for their spouse and children.

Basic accidental death and dismemberment insurance of one time annual base salary is provided at no cost tot he employees. Voluntary accidental death and dismemberment insurance also is available at low group rates for employees and their dependents.

Disability — The Short-term Disability (STD) Plan provides full salary continuation for up to six months for employees absent from work due to an illness or injury.

The Long-term Disability (LTD) Plan can provide up to 60% of regular pay for employees disabled beyond the STD coverage period. Apache provides basic coverage in the plan, up to the first $12,000 of base salary.

Employees may buy optional coverage for the remainder of their base pay.

Dependent Day Care Spending Account — The Dependent Day Care Spending Account allows employees to set aside up to $5,000 on a tax-free basis to pay for eligible dependent day care expenses.

Education Assistance Program — Apache will reimburse employees up to $5,250 per calendar year for individual courses and certificate or degree programs sponsored by accredited universities or colleges.

Alternative Work Schedule — A compressed work week is available at the Houston and Tulsa offices: 9 hour days Monday through Thursday, and 4 hours on Friday.

Flextime is available to accommodate childcare, educational or medical needs whenever possible. The extent of the flextime offering may vary from group to group, depending on operating needs.

Employee Time-Off — Exempt employees receive 3 weeks of annual vacation and nonexempt employees receive 2 weeks (increasing to 3 weeks after 5 years). Vacation allotment increases with company service to 4 weeks after 10 years and 5 weeks after 20 years.

Apache provides 10 paid holidays each year: 7 fixed and 3 floating. Depending upon date of hire, the number of floating holidays credited to new employees is allocated in accordance with a published schedule.
48 hours of paid sick leave are available each year for your illness or for the care of your spouse or children.

Matching Gift Program — Apache will match employee contributions to nonprofit organizations (subject to certain regulations), up to $750 per year.

Note: The benefits described here apply only to eligible employees and are governed by official plan documents. The provisions of the benefit plans, policies and programs may change from time to time.