Tillerson Has 180 Million Reasons Not to Return to Oil Industry
- Former Exxon CEO’s ethics agreement set up independent trust
- Undistributed assets forfeited if Tillerson goes to rival
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It isn’t clear where Rex Tillerson goes from here, but he has 180 million reasons to avoid the oil industry.
The freshly ousted secretary of state’s exit package from former employer Exxon Mobil Corp. stipulates that if Tillerson returns to the private sector to work for a competitor, he could forfeit roughly $180 million in deferred compensation.