Processing Magazine

Exxon Mobil CEO''s Total Pay Falls in 2009

April 14, 2010

Total compensation for Exxon Mobil Corp.''s chief executive fell 9 percent last year as earnings for the oil giant hit their lowest point in seven years, according to an Associated Press analysis of a regulatory filing. Chairman and CEO Rex Tillerson received $21.7 million in total compensation last year, compared with $23.92 million in 2008. The bulk of his earnings came in stock awards that Exxon Mobil valued at $16.96 million when granted. Tillerson received a 10 percent boost in salary to $2.057 million, Exxon Mobil said in a proxy statement filed with the Securities and Exchange Commission. Tillerson''s performance-based bonus fell 40 percent to $2.4 million, of which he received just half, Exxon officials said. The rest will be paid when predetermined earnings targets are achieved. In addition, Tillerson received $280,925 in compensation for perks such as financial planning, use of company aircraft, personal security and 401k matching contributions.