Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On August 10, 2020, John S. Swearingen, Executive Vice President, Logistics and
Storage of the general partner of MPLX LP ("MPLX"), announced his plan to retire
effective August 28, 2020, following more than 39 years of service. Upon his
retirement, Mr. Swearingen will also retire from all positions he holds with any
MPLX affiliate, including Marathon Petroleum Corporation ("MPC"). The company
thanks Mr. Swearingen for his many years of loyal service and his contributions
to the company's success. Mr. Swearingen's responsibilities will be assumed by
existing executives of the general partner of MPLX, Timothy J. Aydt and Gregory
S. Floerke.
In connection with his departure, and in exchange for certain waivers and
releases for the benefit of MPLX and MPC, Mr. Swearingen will be entitled to a
lump sum severance payment in the amount of $929,026. Additionally in connection
with his departure, Mr. Swearingen will fully vest in certain of the MPLX and
MPC long-term incentive awards he received in 2018, 2019 and 2020, and he will
also be entitled to all retirement and welfare benefit plans, policies and
arrangements generally applicable to MPLX's other similarly situated executive
officers.
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