Tillerson made $27.4M at Exxon in 2016

Tillerson made $27.4M at Exxon in 2016
© Greg Nash

Secretary of State Rex TillersonRex Wayne TillersonPress: Acosta, latest to walk the plank A brief timeline of Trump's clashes with intelligence director Dan Coats What is Trump's Iran end game? MORE made $27.4 million in compensation last year as the chief executive of Exxon Mobil Corp., Reuters reported Thursday.

Tillerson and other senior executives received raises in 2016 while the company's overall profits fell by more than 50 percent due to low oil prices worldwide, Reuters reported, citing regulatory filings.

The Exxon CEO's compensation package rose roughly 0.5 percent last year, due in large part to a 4 percent increase in his salary to $3.2 million and an 8 percent boost in the value of stock awards, to $19.7 million.

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Tillerson retired from the company at the end of last year, prior to joining the Trump administration.

The top U.S. diplomat also committed to an ethics agreement, forfeiting unvested Exxon stock valued at $2.8 million alongside a possible bonus of nearly $4 million. He also gave up his right to receive company retiree health benefits.

According to the regulatory filings examined by Reuters, Tillerson will also not be allowed to work in the oil and gas industry for the next 10 years. 

If the secretary of State decides to take a job in the industry, the value of his $180 million trust, which includes his vested Exxon stock, will be donated to charity.