17 December 2016, 08:57 GMT
MOSCOW (Sputnik) — Under the agreement, Tillerson would transfer the value of more than 2 million shares he owns to an independently managed trust and would give up over $4.1 million in bonuses.
"The board of directors of Exxon Mobil Corporation (NYSE:XOM) has reached an agreement with Rex W. Tillerson, former chairman and chief executive officer, to sever all ties with the company to comply with conflict-of-interest requirements associated with his nomination as secretary of state," the statement read.
Tillerson resigned as ExxonMobil CEO on December 31.
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