Dec 1, 2009
HOUSTON -(Dow Jones)- Exxon Mobil Corp.'s (XOM) raised the 2010 salary of Chief Executive Rex Tillerson by 7.3% to $2.207 million, although his bonus of $ 2.4 million will be 40% lower than last year, according to a filing with the Securities Exchange Commission.
Exxon Mobil, the largest U.S. oil company by market value, also granted Tillerson 225,000 restricted shares for 2009, unchanged from last year.
Tillerson's salary is just one component of his total compensation, which this year was valued at $23.9 million, according to the company's proxy filing.
One half of this year's bonus was paid in cash and the other half is deferred pending future corporate earnings, according to Tuesday's filing.
Exxon Mobil posted record profits last year, but in 2009 the company's revenues have dropped considerably due to weaker energy prices and falling refining profits.
-By Isabel Ordonez, Dow Jones Newswires; 713-547-9207; isabel.ordonez@ dowjones.com
(END) Dow Jones Newswires
12-01-091647ET
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Source: http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200912011647dowjonesdjonline000422&title=exxonmobil-ceo-10-salary-rises-73-to-22-million-bonus-shrinks
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