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If his
appointment is confirmed, the value of more than 2 million
deferred Exxon Mobil shares (worth about $182 million at
Tuesday's closing price) that Tillerson would have received over
the next 10 years will be transferred to an independently
managed trust, the company said in a statement.
The share awards will be canceled and Tillerson will also
surrender entitlement to more than $4.1 million in cash bonuses,
scheduled to pay out over the next three years, and other
benefits, Exxon Mobil said.
Separately, Tillerson also committed to the State Department
that, if confirmed, he would sell the more than 600,000 Exxon
shares he currently owns, the company said.
Exxon said last month its president, Darren Woods, will become
chief executive and chairman in January following the retirement
of Tillerson.
Tillerson could face a rocky confirmation process, given
concerns among both Democrats and Republicans about his ties to
Russia.
Exxon stock has gained 6.5 percent since election results of
Nov. 8 up to Tuesday's close of $90.89.
(Reporting by Subrat Patnaik in Bengaluru; Editing by Gopakumar
Warrier)
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