Exxon top exec earns 17pct. pay increase

NEW YORK (AP) — Exxon Mobil says its top executive received a 17 percent increase in compensation last year.

In a filing with the SEC on Thursday, Exxon reported that CEO Rex Tillerson received an annual salary of $2.4 million, a bonus of $4.4 million and stock awards worth $17.9 million. He also received $519,230 in miscellaneous compensation including life insurance, personal security, personal use of company aircraft, and financial planning.

Exxon says its 60-year-old chief executive earned the raise for boosting returns to shareholders. Last year Exxon beat the SP 500 average in shareholder returns. Its safety record also was better than the industry average.

2011 was also one of Exxon’s most profitable years on record.

Exxon shares rose 89 cents to $83.59 in afternoon trading.

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