Secretary of State Nominee Tillerson to Receive Large Retirement Package

Written by Larry Crippen. Posted in Local News, News

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Secretary of State Nominee Tillerson to Receive Large Retirement Package

Published on January 05, 2017 by Larry Crippen

President-elect Donald Trump’s nominee for Secretary of State Rex Tillerson will receive a healthy retirement package of $180 million from the Exxon Mobil Corporation where he has been CEO and chairman. He receives the package upon confirmation.

Tillerson will be giving up over 2 million shares in Exxon that he would have received over the next decade. As an exchange, Exxon will make a cash payment to him which is equal to the share values. It will be held in a trust handled by a third party.

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