NEW YORK - Exxon Mobil Corp., the world's largest publicly traded oil company, has awarded Chairman and Chief Executive Rex. W. Tillerson a cash bonus payment of about $3.36 million and 185,000 restricted shares for his work in 2007, according to a Tuesday filing with the Securities and Exchange Commission.
The company also increased Tillerson's salary to $1.87 million, effective Jan. 1.
In 2006, the CEO received a compensation package valued by the oil giant at about $18.4 million, which included $1.5 million in salary and a $2.8 million bonus. At the beginning of 2007, Exxon Mobil (nyse: XOM - news - people ) boosted Tillerson's salary to $1.75 million.
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Exxon Mobil said about 50 percent of the bonuses will be paid to the executives in cash by year-end and the remaining half will be paid on a deferred basis through the use of earnings bonus units.
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