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SUNOCO LOGISTICS PARTNERS L.P. FILES (8-K) Disclosing Change in Directors or Principal Officers(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On October 20, 2014, the Board of Directors (the "Board") of Sunoco Partners LLC (the "Company"), the general partner of Sunoco Logistics Partners L.P. (the "Partnership"), terminated each of the following executive compensation plans (each, a "Plan" and, collectively, the "Plans"): (1) the Company's Special Executive Severance Plan (the "CIC Plan"), which provided enhanced severance benefits to participating executives terminated in connection with a change in control; and (2) the Company's Executive Involuntary Severance Plan (the "Involuntary Plan"), which provided certain severance benefits to participating executives involuntarily terminated for reasons other than just cause, death, disability, or a change in control. The Board terminated the CIC Plan pursuant to Section 6.1 of such Plan, and terminated the Involuntary Plan pursuant to Article VII of such Plan, each of which provisions gives the Company the right to terminate the respective Plan at any time and for any reason. -------------------------------------------------------------------------------- [ Back To TMCnet.com's Homepage ] |