Exxon cuts bonus pay as earnings drop

Dec. 2, 2009 at 5:44 PM

IRVING, Texas, Dec. 2 (UPI) -- U.S. energy giant Exxon Mobile Corp. gave its chief executive officer a hefty raise, but trimmed his bonus for 2009, the company said.

In a filing with the Securities and Exchange Commission, Exxon said Chief Executive Officer Rex Tillerson would receive a raise of 7 percent with a bonus of $2.4 million this year, a sharp drop from his 2008 bonus of $4 million, The Dallas Morning News reported Wednesday.

Separately, Tillerson will receive 225,000 company shares, the same as he did a year ago, the newspaper said.

Including deferred payments, bonuses pay and shares earned, Tillerson received $22.4 million a year ago.

This year bonuses were cut as Exxon earned 98 cents per share, compared to $2.85 per share a year ago.

Related UPI Stories
Latest Headlines
Trending Stories
Vatican: Bishops not required to report abuse
Former military doctors call for end to live tissue training
Nicola Griffin to appear in Sports Illustrated swimsuit issue at 56
Slovenian town plans public beer fountain
Congressional Black Caucus PAC to endorse Clinton after N.H. primary loss to Sanders