Saturday, January 5, 2013

Exxon Mobil CEO to receive $2.7M raise, $4.5M bonus | Reduction

Exxon Mobil CEO to receive $2.7M raise, $4.5M bonus

2009 Pep Boys Auto 500 Sept 6 (47)
2009 Pep Boys Auto 500 Sept 6 (47) by Hans J E
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Excerpt:

The oil giant said Tuesday in a regulatory filing that Tillerson will also get a bonus of $4. 59 million and 225,000 shares of restricted stock. Exxon Mobil tops the Fortune 500 list Exxon shareholders support CEO's $25. 2M pay Top CEO pay equals 3,489 years for typical worker Tillerson's 2012 salary was $2. 57 million, which was up from $2. 39 million in 2011, according to previous filings. Exxon said that about half the bonus will be paid in cash by year-end and the rest paid later through units that can be converted to cash based on a formula tied to cumulative quarterly earnings per share. Half the restricted shares must be held for five years and half for 10 years or until retirement, whichever comes later. Tillerson is 60 and Exxon Mobil has an age-65 retirement rule, although it was waived for his predecessor, Lee R. Raymond.

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Tillerson

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Lee R. Raymond

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Company: Exxon

Overall Sentiment: 0.207075

Relevance: 0.655265

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