Jan 3 Exxon Mobil Corp said it reached
an agreement with Rex Tillerson, its former chairman and chief
executive, to cut all ties with the company to comply with
conflict-of-interest requirements associated with his nomination
as secretary of state.
If Tillerson's appointment is confirmed, the value of more
than 2 million deferred Exxon Mobil shares that he would have
received over the next 10 years would be transferred to an
independently managed trust and the share awards will be
canceled, the company said.
Tillerson will also surrender entitlement to more than $4.1
million in cash bonuses and other benefits, the company said.
(Reporting by Subrat Patnaik in Bengaluru; Editing by Gopakumar