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* Atlantic Richfield Co. Chairman Mike Bowlin will receive a $27.6-million severance package should BP Amoco complete its planned takeover, BP Amoco disclosed in a prospectus. The figure includes a $6.2-million cash payment based on salary and bonus. The rest is from stock options and dividends. Bowlin, who has led the oil company since 1995, is one of five top managers who would split a total of $62 million as a result of the purchase, which was announced April 1. BP Amoco said the payments were mandated by employment agreements Arco’s board adopted in 1997 governing how much each executive would be paid in the event Arco were taken over.