Devon offers every employee a competitive compensation package consisting of base pay, performance bonus, and long-term incentives, as well as a comprehensive package of benefits to help protect your health, wealth and life balance. No matter where you are in your career, your family status and your life, we provide coverage and options to help you take care of yourself now, and in the future.

Medical Coverage

Eligibility
All regular, full-time employees, part-time employees and interns are eligible to receive Devon's medical benefits beginning on the first day of employment. Employees who enroll in a medical plan can choose to cover a legal spouse, domestic partner, dependent child(ren) and domestic partner child(ren).

Cost of Coverage
You and the company share the cost of coverage. Medical and prescription drug coverage are included. Your share is deducted from your paycheck on a before-tax basis.

In-Network Medical Coverage

Annual deductible (medical and prescription drugs)
Individual: $2,000
Family: $4,000

Annual out-of-pocket maximum (medical and prescription drugs)
Individual: $4,650
Family: $9,300

Prevention care
Plan pays 100% (no deductible)

Coinsurance
You pay 20% or 30% after deductible

Lifetime maximum reproductive system benefit
Plan pays up to $20,000

Prescription Drug Coverage

Preventive drugs
Plan pays 100% (no deductible)

Preventive maintenance drugs* - Retail pharmacy (up to 30-day supply)
Generic: $10 copay
Preferred brand: 30% ($40 min, $125 max)
Non-preferred brand: 40% ($60 min, $185 max)

Preventive maintenance drugs* - Mail-order pharmacy (up to 90-day supply)
Generic: $20 copay
Preferred brand: 30% ($80 min, $250 max)
Non-preferred brand: 40% ($120 min, $370 max)

*As designated under the Affordable Care Act (ACA)

Maintenance and non-maintenance drugs - Retail pharmacy (up to 30-day supply)
Generic: $10 copay
Preferred brand: 30% ($40 min, $125 max)
Non-preferred brand: 40% ($60 min, $185 max)

Maintenance and non-maintenance drugs - Mail-order pharmacy (up to 90-day supply)
Generic: $20 copay
Preferred brand: 30% ($80 min, $250 max)
Non-preferred brand: 40% ($120 min, $370 max)

In-Network Medical Providers
Find a BlueCross BlueShield provider.

Health Savings Account (HSA)

Triple tax-advantaged savings account for health care expenses
The HSA is available with the Devon medical plan, and enrolled employees must open an account to receive contributions from Devon. The HSA is a triple tax-advantaged account* that helps employees save and pay for qualified medical expenses, as defined by the IRS. That includes expenses incurred and in the future—even in retirement.

Each year, employees have the ability to earn between $1,250 - $2,500 in company contributions to the HSA through wellness activities and opportunities throughout the year.

Employees can also contribute pre-tax dollars to their HSA to build savings for now and the future. The combined total of employee and Devon contributions cannot exceed the IRS maximum limit. Employees 55 or older are able to make an additional “catch-up” contribution of up to $1,000 to the HSA. Any unused balance rolls over to the next year, and the full account balance goes with the employee upon leaving Devon.

*Account owners won't pay federal income taxes on contributions, investment earnings or withdrawals, as long as the money is used for qualified health care expenses. In some states, HSA contributions and/or earnings are subject to state income taxes.

Tobacco Surcharge
Employees who enroll in Devon's medical plan and use tobacco products will incur a monthly tobacco surcharge of $50. If an employee's enrolled spouse uses tobacco products, the surcharge will apply for him or her, too. That means if enrolled employees and spouses use any tobacco product—including e-Cigarettes— $100 will be deducted from the employee's pay each month on an after-tax basis. Enrolled employees and spouses are eligible to enroll in the UBreathe tobacco cessation program. If you meet all of the program requirements, you may be able to have the surcharge removed.


Dental Coverage

Eligibility
All regular, full-time employees, part-time employees and interns are eligible to receive Devon’s dental benefits beginning on the first day of employment. Employees who enroll in the dental plan can choose to cover a legal spouse, domestic partner, dependent child(ren) and domestic partner child(ren). Employees are not required to participate in a medical plan in order to enroll in the dental plan.

Cost of Coverage
You and the company share the cost of coverage. Your share is deducted from your paycheck on a before-tax basis.

In-Network Dental Coverage

Annual deductible
PPO: $50 | Premier: $100

Annual maximum benefit
$2,000

Preventive services (two cleanings per year)
PPO: 100% (no deductible) | Premier: 90% (no deductible)

Basic services (Includes basic cavity fillings, simple extractions and oral surgery)
PPO: you pay 20% | Premier: 30% after deductible

Major services (Includes inlays and onlays, crowns, dentures and caps)
You pay 50% after deductible

Orthodontia
You pay 50% after deductible; $2,000 lifetime maximum.

Plan administrator
Delta Dental


Vision Coverage

Eligibility
All regular, full-time employees, part-time employees and interns are eligible to receive Devon’s vision benefits beginning on the first day of employment. Employees who enroll in a vision plan can choose to cover a legal spouse, domestic partner, dependent child(ren) and domestic partner child(ren). Employees are not required to participate in a medical plan in order to enroll in a vision plan.

Cost of Coverage
You pay the full cost of coverage. Premiums are deducted from your paycheck on a before-tax basis.

In-Network Vision Coverage

Well vision exam and retinal imaging
Plan pays 100%

Lenses* (single vision, lined bifocal or lined trifocal lenses and polycarbonate lenses for dependent children)
You pay $20 copay

Wide selection frames**
Basic: $150 allowance | Premier: $200 allowance

Feature frames**
Basic: $170 allowance | Premier: $220 allowance

Contact lens materials and exam (fitting and evaluation)
Basic: $150 allowance (every calendar year, in lieu of glasses)
Premier: $200 allowance (every calendar year, in lieu of glasses)

Frequency
Basic: exams every year, lenses every year, frames every 2 years
Premier: exams every year, lenses every year, frames every year

*Average 20-25 percent savings on other lens enhancements
**20 percent savings on the amount over allowance

Plan administrator
VSP


Wellness

Devon places great emphasis on employee wellness. To ensure all employees and their families have the ability to choose and live well, we offer a variety of tools and resources to support overall health and wellness, including:

The Well
A state-of-the-art wellness center in Oklahoma City, the Well, features the latest cardio equipment, a range of strength training options, locker rooms, a towel service and a variety of group fitness classes.

All Devon employees have access to Wellbeats, an on-demand fitness platform with 500+ workouts, nutrition and mindfulness classes for all ages, levels and interests.

The Doc
Near-site comprehensive primary care medical clinic, the Doc, offering an advanced level of proactive patient care and services in a comfortable environment. The Doc offers physician services, behavioral health and physical therapy options.


Compensation

Our compensation program, which includes base pay, performance bonuses and long-term incentives for every Devon employee, aims to inspire and engage employees to perform at their best. Devon strongly believes in pay for performance, and offers a pay package that is competitive in our talent markets. We are proud to be an industry leader where all employees participate in Devon’s long-term incentives, typically in the form of an annual restricted stock grant of Devon shares that vest over time. Our program supports short- and long-term performance as well as individual accountability and company success.

Savings

401(k) Incentive Saving Plan
Devon offers a 401(k) Incentive Savings Plan to help you save money for your retirement. Employees have the flexibility to choose a separate contribution election for regular pay and performance bonuses.

Your Contributions
You can contribute 1 to 50 percent of your eligible pay (base pay, overtime pay, annual performance bonus) on a pre-tax basis, Roth after-tax basis or a combination of both up to the IRS limit. Employees who are at least 50 years of age can defer additional catch-up contributions up to the IRS limit.

Matching Contributions
The company provides a 100 percent match on your contributions up to 6 percent depending on your years of service. Company match dollars are always made on a pre-tax basis.

Company Retirement Contributions
Devon contributes a percentage of your eligible compensation to your 401(k) account each quarter in addition to standard matching contributions. You are not required to contribute to your 401(k) account to receive this contribution.

Other Financial Benefits

Dependent Care Flexible Spending Account
This account helps you save money by allowing you to save and use pre-tax dollars to pay for certain child and adult dependent care expenses. You may deposit up to $5,000 each year into the dependent care FSA (or $2,500 if married and filing separate tax returns) via pre-tax payroll deductions.

Financial Wellness Program
Devon partners with Your Money Line to provide confidential and unbiased financial guidance at no cost to employees. Services include a wide range of resources to help with day-to-day finances.

Tuition Reimbursement Benefit
Devon will reimburse you for certain expenses related to completion of courses within a degree program at an accredited institution. Reimbursement covers tuition, books and required fees up to a maximum amount of $5,250 per calendar year.

Adoption Assistance Program
Devon will reimburse eligible employees who meet the program’s conditions up to $10,000 per eligible child (up to the lifetime maximum of $20,000) for qualified adoption-related expenses.


Work/Life Benefits

Paid Time Off
Paid Time Off (PTO) is vacation, sick and personal leave all rolled into one leave balance that accrues each pay period. PTO is awarded based on the employee’s years of work experience, which Devon calculates by subtracting 25 from the employee’s age. Annual PTO begins at a minimum of 160 hours. Devon employees enjoy 9 paid holidays and 1 floating holiday each year.

Alternate Work Schedule (or 9/80)
Allows employees in designated locations the option to work an additional hour on eight out of nine workdays during a given pay period and take every other Friday off, resulting in 26 additional paid days off per year.

Paid Family & Medical Leave
To encourage work-life balance, Devon has established the Paid Family & Medical Leave (PFML) Policy. PFML is comprised of the following types of paid leave: Medical Leave, Maternity Leave, Parental Leave, Leave for Care of Family, Bereavement Leave, and Compassion Leave.

  • Medical Leave: Up to 26 weeks of paid leave for employee’s own medically certified health condition provided at no cost. The percentage of salary continuation is based on length of illness (maximum 100 percent, minimum 60 percent). Benefits begin after the 4th day of consecutive disability.
  • Maternity Leave: 8 weeks of paid leave for birth of a child at 100% salary continuation. Benefits begin after the 4th day of consecutive absence due to child birth.

For the following types of leave, employees are eligible for up to 160 hours of paid leave each calendar year.

  • Parental Leave: Leave for the care of and bonding with a biological or adopted child, or a child placed with employee for long-term foster care.
  • Leave for Care of Family: Leave for care of a family member with a Serious Health Condition.
  • Leave for Care of Self: Leave for care of self when medical leave or maternity leave is not otherwise qualified.
  • Bereavement Leave: Leave to attend a funeral or memorial service, handle matters pertaining to the estate or other time off needed due to loss of a family member.
  • Compassion Leave: Leave for unexpected life events such as damage to employee’s home from a fire, tornado, flood, or hurricane.

Military Leave
Deployed employee military service members will receive full salary for three months and differential pay above the military standard for an additional nine months. Devon service members and their families enrolled in the health care plan will also remain covered for 12 months.

Long-Term Disability (LTD)
LTD provides income protection when you become totally disabled and unable to work for an extended period of time. LTD coverage is provided at no cost to you. LTD replaces 60 percent of your monthly compensation up to a maximum of $20,000 per month. The benefit begins on the 181st day of your disability and expires when you are no longer disabled or your attainment of Social Security retirement age, whichever occurs first.

Supporting Mental Health:

Employee Assistance Program (EAP)
All employees and their dependents, including household members, have expanded access to mental health care through Lyra Health. This service includes 10 complimentary sessions, per person, per calendar year. Lyra provides a range of care options for emotional and mental health at no cost. Lyra can match employees and their families with providers specific to their needs – from alleviating anxiety and depression to navigating relationships, and from managing stress to finding balance. Lyra also offers work-life services and support. Work-life services include legal consultations, identify theft support, and child and elder-care information and consultations.

Life and AD&D Insurance

The company provides Basic Life insurance and Accidental Death and Dismemberment (AD&D) insurance coverage at no cost to you. You can also purchase additional voluntary life and AD&D insurance coverage as outlined below.

Eligibility
All regular full-time employees may participate in all options. Part-time employees and interns may participate in some but not all life and disability products.

Coverage Categories

Basic Life and AD&D (regular full-time and part-time employees only)
Company-paid coverage of two times your base salary up to $1,000,000.

Basic Life and AD&D (Interns only)
Company-paid coverage of $50,000 AD&D Insurance

Voluntary Life (full-time and part-time employees)
Employee-paid coverage up to the lesser of six times your salary or $1,000,000.

Voluntary Spousal Life
Employee-paid coverage. Options include:
$25,000
$50,000

Voluntary Child Life
Employee-paid coverage. Options include:
$5,000
$10,000

Voluntary AD&D
Employee-paid coverage elected in units of $50,000 up to the lesser of 10 times your salary or $1,000,000. Coverage options include:
Employee only
Employee + spouse
Employee + children
Employee + family

Cost
Devon pays the cost of Basic Life and AD&D coverage. You pay the cost of Voluntary Life and AD&D coverage through after-tax payroll deductions. Part-time benefits may be prorated based on employee’s scheduled hours.

Disclaimer: The information set forth on devonenergy.com is a summary of information regarding benefit plans that Devon currently has in place. In the case of a conflict between the official plan documents and the summary information furnished on devonenergy.com, the official plan documents will govern. Devon reserves the right to terminate, amend or modify plans or any benefits under its various benefit plans, in whole or in part, at any time.