ExxonMobil Vlad Andreea

7/25/2019 ExxonMobil Vlad Andreea

1/17

ACADEMIA DE STUDII ECONOMICE BUCURETIMANAGEMENTUL RISCULUI FINANCIAR INTERNAIONAL

Corporate

GovernanceExxon Mobil

MRFI an I

Vlad Andreea Elena

Bucureti, 20141. History


2/17

ExxonMobil Corporation, or Exxon Mobil, is an American multinational oil and

gas Corporation headquartered in Irving, Texas, United States. ExxonMobil

Corporation as !ormed in "### b$ the merger o! t o ma%or oil companies, Exxon

and Mobil. &oth Exxon and Mobil ere descendants o! the 'ohn (. )oc*e!eller

Corporation, Standard +il hich as established in " - . The reputation o!

Standard +il in the public e$e su/ered badl$ a!ter publication o! Ida M. Tarbell0s

classic expos1 The 2istor$ o! the Standard +il Compan$ in "# 3, leading to a

gro ing outcr$ !or the government to ta*e action against the compan$.

&$ "#"", the Supreme Court o! the United States ruled that Standard +il

must be dissolved and split into 43 companies. T o o! these companies ere

'erse$ Standard 56Standard +il Compan$ o! 7e 'erse$68, hich eventuall$

became Exxon, and Socon$ 56Standard +il Compan$ o! 7e 9or*68, hich

eventuall$ became Mobil .

+n 'une ":, "## , ;ee ). )a$mond, Exxon0s CE+, met ith ;ucio A. 7oto,

Mobil0s CE+, at Mobil0s headquarters in


3/17

i!!ued and out!tandin (otin !ecuritie!% )older! o$ Mobil common !toc* #ould recei(e 1%+201

!hare! o$ Exxon common !toc* $or each !hare o$ Mobil common !toc*% da"! be$ore the

announcement Exxon !hare! -rice #a! ./2 and 2,4+1 million !hare! out!tandin .1/ billion mar*et

(alue com-ared #ith ./ %2 a !hare and // %3 million !hare! out!tandin $or Mobil . 3%/ billion

mar*et (alue % ith the exchan e ratio 1%+201 , Exxon -aid 1,02 %4 million it! !hare! $or Mobil or

./4%1 billion% 5hi! #a! a .1 %4 billion 26%2& -remium o(er Mobil'! mar*et (alue or . 4% a !hare%

A$ter the -rice run7u- Exxon !hareholder! #ould o#n a--roximatel" /0& o$ the combined

ExxonMobil entit", #hile Mobil !hareholder! #ould o#n a--roximatel" +0&% 5he mer er 8uali$ied a!

a tax7$ree reor ani9ation in the U:, and that it #a! accounted $or on a ;-oolin o$ intere!t!< ba!i!%

In addition, the mer er a reement -ro(ided $or -a"ment o$ termination $ee! o$ .1% billion%

Exxon and Mobil al!o entered into an o-tion a reement that ranted Exxon the o-tion to -urcha!e u-

to 1+6% million !hare! 14% & o$ Mobil common !toc* at a !tri*e -rice o$ . % 6% Exxon could

exerci!e the o-tion a$ter the occurrence o$ an e(ent, entitlin Exxon to recei(e the termination $ee

-a"able b" Mobil%

=%>% Mor an ? @o% and a(i! >ol* ? ard#ell ad(i!ed Exxon, and oldman :ach! ? @o% and

:*adden, Ar-!, Mea her ? Flom ad(i!ed Mobil%

ExxonMobil is the orld0s largest compan$ b$ revenue and in ? "4, became

the largest publicl$ traded compan$ b$ mar*et capitali ation in the orld. The

compan$ is ran*ed B globall$ in neries in ?" countries constituting a

combined dail$ re>ning capacit$ o! :.4 million barrels 5", , m 48, ExxonMobil

is the largest re>ner in the orld, a title that as also associated ith Standard

+il since its inCorporation in " - .

2. Ownership and Management

2.1 Major HoldersBreakdown

& o$ :hare! )eld b" All In!ider and & C#ner!D 0&

& o$ :hare! )eld b" In!titutional ? Mutual Fund C#ner!D 0&

& o$ Float )eld b" In!titutional ? Mutual Fund C#ner!D 0&

umber o$ In!titution! )oldin :hare!D 13 0Source D htt-D $inance%"ahoo%com 8 mhG!H CMJMaKorJ)older!

Major Direct o!der"o!der S#are" Re$orted

4
http://finance.yahoo.com/q/mh?s=XOM+Major+Holdershttp://finance.yahoo.com/q/mh?s=XOM+Major+Holders


4/17

5ILLER:C RE 2,111,+++ ec 13, 201+

>R CR :5E>)E +, 3 o( 26, 201+

)UM>)RE : C AL /30,113 ec 13, 2012

CLA MI@)AEL =AME: 6 0,466 o( 26, 201+

: I ER A RE > 602,222 o( 26, 201+Source D htt-D $inance%"ahoo%com 8 mhG!H CMJMaKorJ)older!

To$ In"tit%tiona! o!der"o!der S#are" & O%t 'a!%e Re$orted

Van uard rou-, Inc% 5he 224,364, / %1 1 ,+4/,+46,434 :e- +0, 201+

:tate :treet @or-oration 134,+66, /0 4%22 1 ,362,3 ,632 :e- +0, 201+

Blac*Roc* In!titutional 5ru!t @om-an", %A% 116, /2, 14 2%6/ 10,02 , ++, 20 :e- +0, 201+

Ban* o$ e# or* Mellon @or-oration /1,3/1,041 1%6 6,13+,/34,+6/ :e- +0, 201+ orthern 5ru!t @or-oration 6/,2+2,406 1% 4 ,/34,6/6,212 :e- +0, 201+

ellin ton Mana ement @om-an", LL> 4,+06,0 4 1%24 4,6/2,4 6,+2/ :e- +0, 201+

=> Mor an @ha!e ? @om-an" 4 ,4/6,46 1%1+ 4,2 6, ,043 :e- +0, 201+

Blac*Roc* Fund Ad(i!or! 44,603,46 1%02 +,3+3,112,6/2 :e- +0, 201+

Ban* o$ America @or-oration 42,300,302 0% 3 +,632, 31,004 :e- +0, 201+

Ber*!hire )atha#a", Inc 40,03 ,+/1 0% 2 +,44 ,23 ,430 :e- +0, 201+:ourceD htt-D $inance%"ahoo%com 8 mhG!H CMJMaKorJ)older!

To$ M%t%a! F%nd o!der"o!der S#are" & O%t 'a!%e Re$orted

Van uard 5otal :toc* Mar*et Index Fund 64,064,4 4 1%4/ , 12,10 ,622 :e- +0, 201+

:> R :?> 00 E5F 5ru!t 44,+3+,6 6 1%02 4,143, 34,162 o( +0, 201+

Van uard In!titutional Index Fund7In!titutional Index Fund

4+,061,4 / 0% +,/0 ,011,201 :e- +0, 201+

Van uard 00 Index Fund 42,1++,4 0% 6 +,62 ,16 , 0 :e- +0, 201+

:-artan 00 Index Fund 13,2/2,/42 0%42 1,/03,1+ , 22 o( +0, 201+

@olle e Retirement E8uitie! Fund7:toc*Account

1 ,031,3/1 0%+ 1,2 /,644,130 :e- +0, 201+

Van uard ellin ton Fund Inc% 1 ,1/6,/04 0%+ 1,+22,301, 20 Au +1, 201+:elect :ector :> R Fund7Ener " :elect 14,/00,+4+ 0%+4 1,+/4,133,06+ o( +0, 201+

i:hare! @ore :?> 00 E5F 14,03+,02 0%+2 1,+16,431, 0 o( +0, 201+

Van uard Index7Value Index Fund 1+,064,1 2 0%+0 1,124,04+,0/ :e- +0, 201+Source D htt-D $inance%"ahoo%com 8 mhG!H CMJMaKorJ)older!

()( Mana*e+ent

ExxonMobil ha! a lon hi!tor" o$ leader!hi- in the -etroleum and -etrochemical indu!trie!%

Rex % 5iller!on i! the @hairman and the @hie$ Executi(e C$$icer% Born in ichita Fall!, 5exa!,

Rex 5iller!on earned a bachelor o$ !cience de ree in ci(il en ineerin at the Uni(er!it" o$ 5exa! at

Au!tin be$ore Koinin Exxon @om-an", U%:%A% in 1 / a! a -roduction en ineer% In 1 3 , he became

3
http://finance.yahoo.com/q/mh?s=XOM+Major+Holdershttp://finance.yahoo.com/q/mh?s=XOM+Major+Holdershttp://finance.yahoo.com/q/mh?s=XOM+Major+Holdershttp://finance.yahoo.com/q/mh?s=XOM+Major+Holdershttp://finance.yahoo.com/q/mh?s=XOM+Major+Holdershttp://finance.yahoo.com/q/mh?s=XOM+Major+Holdershttp://finance.yahoo.com/q/mh?s=XOM+Major+Holders


5/17

eneral mana er o$ Exxon @om-an" U:A'! central -roduction di(i!ion, re!-on!ible $or oil and a!

-roduction o-eration! throu hout a lar e -ortion o$ 5exa!, C*lahoma, Ar*an!a! and Nan!a!%

In 1 2, 5iller!on #a! named -roduction ad(i!or to Exxon @or-oration% 5hree "ear! later he

#a! named -re!ident o$ Exxon emen Inc% and E!!o Ex-loration and >roduction Nhorat Inc%, and in

=anuar" 1 3 became (ice -re!ident o$ Exxon Venture! @I: Inc% and -re!ident o$ Exxon e$te a!

Limited% In tho!e role!, he #a! re!-on!ible $or Exxon'! holdin ! in Ru!!ia and the @a!-ian :ea a! #ell

a! the :a*halin I con!ortium o-eration! o$$!hore :a*halin I!land, Ru!!ia%

In ecember 1 , he became executi(e (ice -re!ident o$ ExxonMobil e(elo-ment @om-an"%

5iller!on #a! named !enior (ice -re!ident o$ ExxonMobil @or-oration in Au u!t 2001, and #a!

elected -re!ident o$ the @or-oration and member o$ the board o$ director! on March 1, 2004% )e

a!!umed hi! current -o!ition on =anuar" 1, 2006%

Mar* % Alber! i! Exxon'! :enior Vice >re!ident% Born in @al ar", Alberta, @anada, and rai!ed

in 5exa!, Alber! Koined the com-an" in 1 / and hold! a bachelorO! de ree in -etroleum en ineerin

$rom 5exa! A?M Uni(er!it"% In 2001, Mr% Alber! became (ice -re!ident, A$rica, @had i eria $or

ExxonMobil e(elo-ment @om-an" in )ou!ton, and he !er(ed a! executi(e a!!i!tant to the chairman

o$ ExxonMobil @or-oration at head8uarter! in Ir(in , 5exa!, -rior to becomin -re!ident o$

ExxonMobil e(elo-ment @om-an" in Cctober 2004% )e #a! named !enior (ice -re!ident o$

ExxonMobil @or-oration in A-ril 200/%

Michael olan i! :enior Vice >re!ident o$ ExxonMobil @or-oration in Ir(in , 5exa!% olan

Koined Mobil Cil @or-oration in 1 30 at the >aul!boro, e# =er!e" re!earch laborator"% C(er the next

1+ "ear!, he #or*ed in a (ariet" o$ en ineerin and mana erial -o!ition! !u--ortin MobilO!

#orld#ide re$inerie!% From :e-tember 2004, Mr% olan #a! -re!ident o$ ExxonMobil @hemical

@om-an" and (ice -re!ident o$ ExxonMobil @or-oration until hi! a--ointment a! !enior (ice

-re!ident o$ the @or-oration in A-ril 2003%

Andre# >% :#i er i! :enior Vice >re!ident and >rinci-al Financial C$$icer% Cri inall" $rom

a!hin ton, %@%, Andre# :#i er hold! a bachelor o$ !cience de ree in -etroleum en ineerin $rom

the @olorado :chool o$ Mine!%

)e Koined the com-an" in 1 /3 a! an o-eration! en ineer in Mor an @it", Loui!iana, -ro re!!in throu h a !erie! o$ u-!tream a!!i nment! in A$rica, Euro-e, and orth America% :#i er

#a! named executi(e (ice -re!ident o$ ExxonMobil >roduction @om-an" in 2004% )e !er(ed in that

ca-acit" until bein named -re!ident o$ ExxonMobil a! ? >o#er Mar*etin in 2006, a -o!ition he

held until bein elected a! a !enior (ice -re!ident o$ the @or-oration in 200 %

,) Cor$orate Go-ernance Str%ct%re"

,). T#e Board o/ Director"


6/17

5he bu!ine!! and a$$air! o$ ExxonMobil are mana ed b" or under the direction o$ it! Board in

accordance #ith e# =er!e" la#% 5he director!O $iduciar" dut" i! to exerci!e their bu!ine!! Kud ment in

the be!t intere!t! o$ ExxonMobilO! !hareholder!%

5he Board o$ irector! ha! ado-ted !ome uideline! to -romote the e$$ecti(e $unctionin o$ the

Board and it! committee!%

5he !i9e o$ the Board #ill -ro(ide $or !u$$icient di(er!it" amon non7em-lo"ee director! #hile

al!o $acilitatin !ub!tanti(e di!cu!!ion! in #hich each director can -artici-ate meanin $ull"% 5he

Board !i9e #ill be #ithin the limit! -re!cribed b" ExxonMobilO! B"7La#!, #hich currentl" -ro(ide

that the Board ma" ha(e no $e#er than 10 and no more than 1 member!% ormall", the Board intend!

to ha(e a--roximatel" 11 to 1+ member! #ith 2 to + em-lo"ee director! and to 10 non7em-lo"ee

director!%

A !ub!tantial maKorit" o$ the Board #ill con!i!t o$ director! #hom the Board ha! determined to

be inde-endent% In eneral, an inde-endent director mu!t ha(e no material relation!hi- #ith

ExxonMobil, directl" or indirectl", exce-t a! a director%

All director! #ill !tand $or election at the annual meetin o$ !hareholder!% In an" non7conte!ted

election o$ director!, an" director nominee #ho recei(e! a reater number o$ (ote! P#ithheldP $rom hi!

or her election than (ote! P$orP !uch election !hall tender hi! or her re!i nation%

5he Board belie(e! it i! a--ro-riate and e$$icient $or ExxonMobilO! @hie$ Executi(e C$$icer

@EC al!o to !er(e a! @hairman o$ the Board% )o#e(er, the Board retain! the authorit" to !e-arate

tho!e $unction! i$ it deem! !uch action a--ro-riate in the $uture%

5he inde-endent member! o$ the Board o$ irector! #ill annuall" !elect an inde-endent director

to !er(e a! >re!idin irector% It i! normall" ex-ected that the !ame director #ill !er(e a! >re!idin

irector $or a minimum o$ t#o "ear!%

5he Board doe! not belie(e that $ormer o$$icer! o$ ExxonMobil !hould continue to !er(e on the

Board a$ter the" no lon er hold that o$$icer -o!ition%

o director ma" !tand $or election a$ter reachin a e /2 unle!! the Board a--ro(e! an exce-tion

to the uideline on a ca!e b" ca!e ba!i!%

irector! are not !ubKect to term limit! exce-t a! a re!ult o$ reachin the BoardO! mandator"retirement a e%

In (ie# o$ tho!e eneral uideline!, the Board ha! 12 member!, 11 o$ them are $rom out!ide the

com-an", and 4 o$ them are @EC'! o$ other maKor com-anie!% 5he @hairman i! the com-an"'! @EC,

Rex % 5iller!on%

5he 12 irector! areD

Michael =% Bo!*in 0 5%M% Friedman >ro$e!!or o$ Economic! and :enior Fello#, )oo(er

In!titution, :tan$ord Uni(er!it"Q

>eter Brabec*7Letmathe 0 @hairman o$ the Board, e!tl Q

:


7/17

Ur!ula M% Burn! 0 @hairman o$ the Board and @hie$ Executi(e C$$icer, erox

@or-orationQ Larr" R% Faul*ner 0 >re!ident Emeritu!, the Uni(er!it" o$ 5exa! at Au!tinQ =a" :% Fi!hman 0 @hairman o$ the Board and @hie$ Executi(e C$$icer, 5he 5ra(eler!

@om-anie!Q )enrietta )% Fore 0 @hairman and @hie$ Executi(e C$$icer, )ol!man InternationalQ Nenneth @% Fra9ier 0 @hairman o$ the Board, >re!ident, and @hie$ Executi(e C$$icer,

Merc* ? @oQ illiam % eor e 0 >ro$e!!or o$ Mana ement >ractice, )ar(ard Uni(er!it"Q :amuel =% >almi!ano 1 Former @hairman o$ the Board, IBM Q :te(en : Reinemund 0 ean o$ Bu!ine!!, a*e Fore!t Uni(er!it"Q Rex % 5iller!on 0 @hairman o$ the Board and @hie$ Executi(e C$$icer, ExxonMobil

@or-orationQ Ed#ard E% hitacre, =r ) 0 Former @hairman o$ the Board, eneral Motor!Q @hairman

Emeritu!, A5?5%

,)( Board co++ittee"

5he Board a--oint! @ommittee! to hel- carr" out it! dutie!% In -articular, Board @ommittee!

#or* on *e" i!!ue! in reater detail than #ould be -o!!ible at $ull Board meetin !% Each @ommittee

re(ie#! the re!ult! o$ it! meetin ! #ith the $ull Board% 5he committee a--ointment! a! o$ o(ember

2/, 2012 are li!ted belo#D

Audit @ommitteeQ @om-en!ation @ommitteeQ Board A$$air! @ommitteeQ Finance @ommitteeQ >ublic I!!ue! and @ontribution! @ommitteeQ Executi(e @ommittee%

2) Cor$orate Go-ernance Code

ExxonMobil @or-oration i! committed to bein the #orld'! -remier -etroleum and

-etrochemical com-an"% 5o that end, the" mu!t continuou!l" achie(e !u-erior $inancial and o-eratin

re!ult! #hile !imultaneou!l" adherin to hi h ethical !tandard!%5he $ollo#in -rinci-le! uide Exxon 3! relation!hi-! #ith their !hareholder!, cu!tomer!,

em-lo"ee!, and communitie!D :hareholder! 7 Exxon i! committed to enhancin the lon 7term (alue o$ the in(e!tment

dollar! entru!ted b" their !hareholder!% B" runnin the bu!ine!! -ro$itabl" and

re!-on!ibl", the" ex-ect their !hareholder! to be re#arded #ith !u-erior return!% @u!tomer! 7 :ucce!! de-end! on Exxon 3! abilit" to con!i!tentl" !ati!$" e(er chan in

cu!tomer -re$erence!% 5he" commit to be inno(ati(e and re!-on!i(e, #hile o$$erin

hi h 8ualit" -roduct! and !er(ice! at com-etiti(e -rice!%

-


8/17

Em-lo"ee! 7 5he exce-tional 8ualit" o$ their #or*$orce -ro(ide! a (aluable com-etiti(e

ed e% 5o build on thi! ad(anta e, Exxon #ill !tri(e to hire and retain the mo!t 8uali$ied

-eo-le a(ailable and to maximi9e their o--ortunitie! $or !ucce!! throu h trainin and

de(elo-ment% Exxon i! committed to maintainin a !a$e #or* en(ironment enriched b"

di(er!it" and characteri9ed b" o-en communication, tru!t, and $air treatment% @ommunitie! 7 Exxon commit! to be a ood cor-orate citi9en in all the -lace! the"

o-erate #orld#ide% Exxon #ill maintain hi h ethical !tandard!, obe" all a--licable

la#!, rule!, and re ulation!, and re!-ect local and national culture!% Abo(e all other

obKecti(e!, Exxon i! dedicated to runnin !a$e and en(ironmentall" re!-on!ible

o-eration!%

5he -olic" o$ ExxonMobil @or-oration i! to com-l" #ith all o(ernmental la#!, rule!, and

re ulation! a--licable to it! bu!ine!!%5he @or-oration'! Ethic! -olic" doe! not !to- there% E(en #here the la# i! -ermi!!i(e, the

@or-oration choo!e! the cour!e o$ hi he!t inte rit"% Local cu!tom!, tradition!, and more! di$$er $rom

-lace to -lace, and thi! mu!t be reco ni9ed% But hone!t" i! not !ubKect to critici!m in an" culture%

:hade! o$ di!hone!t" !im-l" in(ite demorali9in and re-rehen!ible Kud ment!% A #ell7$ounded

re-utation $or !cru-ulou! dealin i! it!el$ a -ricele!! cor-orate a!!et%5he @or-oration care! ho# re!ult! are obtained, not Ku!t that the" are obtained% irector!,

o$$icer!, and em-lo"ee! !hould deal $airl" #ith each other and #ith the @or-oration'! !u--lier!,

cu!tomer!, com-etitor!, and other third -artie!%

ExxonMobil @or-oration a!-ire! to be at the leadin ed e o$ com-etition in e(er" a!-ect o$ their bu!ine!!% 5hat re8uire! the @or-oration'! re!ource! S$inancial, o-erational, technolo ical, and

human S to be em-lo"ed #i!el" and e(aluated re ularl"% hile the" maintain $lexibilit" to ada-t to

chan in condition!, the nature o$ their bu!ine!! re8uire! a $ocu!ed, lon 7term a--roach% Exxon #ill

con!i!tentl" !tri(e to im-ro(e e$$icienc" and -roducti(it" throu h learnin , !harin , and im-lementin

be!t -ractice!% Exxon #ill be di!ci-lined and !electi(e in e(aluatin the ran e o$ ca-ital in(e!tment

o--ortunitie! a(ailable% 5he com-an" #ill !ee* to de(elo- -ro-rietar" technolo ie! that -ro(ide a

com-etiti(e ed e%

4) Cor$orate Go-ernance 5o!icie"

5.1 Conficts o nterest !olicyIt is the polic$ o! ExxonMobil Corporation that directors, o@cers, and

emplo$ees are expected to avoid an$ actual or apparent conGict bet een their

o n personal interests and the interests o! the Corporation. A conGict o! interest

can arise hen a director, o@cer, or emplo$ee ta*es actions or has personal

interests that ma$ inter!ere ith his or her ob%ective and e/ective per!ormance o!

or* !or the Corporation.


9/17

customers, competitors, and other third parties. (irectors, o@cers, and

emplo$ees are expected to re!rain !rom ta*ing !or themselves opportunities

discovered through their use o! corporate assets or through their positions ith

the Corporation.

(irectors, o@cers, and emplo$ees are expected to avoid securitiestransactions based on material, nonpublic in!ormation learned through their

positions ith the Corporation. (irectors, o@cers, and emplo$ees are expected to

re!rain !rom competing ith the Corporation.

5.2 Corporate "ssets !olicyIt is the polic$ o! ExxonMobil Corporation that directors, o@cers, and

emplo$ees are expected to protect the assets o! the Corporation and use them

e@cientl$ to advance the interests o! the Corporation. Those assets include

tangible assets and intangible assets, such as con>dential in!ormation o! the

Corporation. 7o director, o@cer, or emplo$ee should use or disclose at an$ time

during or subsequent to emplo$ment or other service to the Corporation, ithout

proper authorit$ or mandate, con>dential in!ormation obtained !rom an$ source

in the course o! the CorporationHs business. Examples o! con>dential in!ormation

include nonpublic in!ormation about the CorporationHs plans, earnings, >nancial

!orecasts, business !orecasts, discoveries, competitive bids, technologies, and

personnel.

5.# $irectorships !olicy

It is the polic$ o! ExxonMobil Corporation to restrict the holding b$ o@cers

and emplo$ees o! directorships in nona@liated, !or pro>t organi ations and to

prohibit the acceptance b$ an$ o@cer or emplo$ee o! such directorships that

ould involve a conGict o! interest ith, or inter!ere ith, the discharge o! the

o@cerHs or emplo$eeHs duties to the Corporation. An$ o@cer or emplo$ee ma$

hold directorships in nona@liated, nonpro>t organi ations, unless such

directorships ould involve a conGict o! interest ith, or inter!ere ith, the

discharge o! the o@cerHs or emplo$eeHs duties to the Corporation, or obligate the

Corporation to provide support to the nona@liated, nonpro>t organi ations.

+@cers and emplo$ees ma$ serve as directors o! a@liated companies and

such service ma$ be part o! their normal or* assignments. All directorships in

public companies held b$ directors o! the Corporation are sub%ect to revie and

approval b$ the &oard o! (irectors o! the Corporation. In all other cases,

directorships in nona@liated, !or pro>t organi ations are sub%ect to revie and

approval b$ the management o! the Corporation, as directed b$ the Chairman.

#


10/17

5.% "nti&Corr'ption !olicy

It is the polic$ o! ExxonMobil Corporation that directors, o@cers, emplo$ees,

and third parties acting on its behal! are prohibited !rom o/ering or pa$ing,

directl$ or indirectl$, an$ bribe to an$ emplo$ee, o@cial, or agent o! an$

government, commercial entit$, or individual in connection ith the business or

activities o! the Corporation. A bribe !or purposes o! this polic$ is an$ mone$,

goods, services, or other thing o! value o/ered or given ith the intent to gain

an$ improper advantage !or the Corporation.

5.5 "ntitr'st !olicy

It is the polic$ o! ExxonMobil Corporation that directors, o@cers, and

emplo$ees are expected to compl$ ith the antitrust and competition la s o! the

United States and ith those o! an$ other countr$ or group o! countries hich are

applicable to the CorporationHs business.

7o director, o@cer, or emplo$ee should assume that the CorporationHs

interest ever requires other ise. It is recogni ed that, on occasion, there ma$ be

legitimate doubt as to the proper interpretation o! the la . In such a

circumstance, it is required that the directors, o@cers, and emplo$ees re!er the

case through appropriate channels to the ;a (epartment !or advice.

5.( )nvironment !olicy

The Corporation is committed to continuous e/orts to improve

environmental per!ormance throughout its operations.

Accordingl$, the CorporationHs polic$ is to compl$ ith all applicable environmental la s and regulations and

appl$ responsible standards here la s and regulations do not existJ

encourage concern and respect !or the environment, emphasi eever$ emplo$eeHs responsibilit$ in environmental per!ormance, and

!oster appropriate operating practices and trainingJ or* ith government and industr$ groups to !oster timel$

development o! e/ective environmental la s and regulations based

on sound science and considering ris*s, costs, and bene>ts, including

e/ects on energ$ and product suppl$J manage its business ith the goal o! preventing incidents and o!

controlling emissions and astes to belo harm!ul levelsJ design,

operate, and maintain !acilities to this endJ

"


11/17

respond quic*l$ and e/ectivel$ to incidents resulting !rom its

operations, in cooperation ith industr$ organi ations and authori ed

government agenciesJ conduct and support research to improve understanding o! the impact

o! its business on the environment, to improve methods o! environmental protection, and to enhance its capabilit$ to ma*e

operations and products compatible ith the environmentJ communicate ith the public on environmental matters and share its

experience ith others to !acilitate improvements in industr$

per!ormanceJ underta*e appropriate revie s and evaluations o! its operations to

measure progress and to !oster compliance ith this polic$.

5.* !rod'ct +a ety !olicyIt i! Exxon Mobil @or-oration'! -olic" toD

identi$" and mana e ri!*! a!!ociated #ith it! -roduct! and not manu$acture or !ell

-roduct! #hen it i! not -o!!ible throu h -ro-er de!i n, -rocedure!, and -ractice! to

-ro(ide an a--ro-riate le(el o$ !a$et" $or -eo-le and the en(ironmentQ !-eci$" -recaution! re8uired in handlin , tran!-ortin , u!in , and di!-o!in o$ it!

-roduct! and ta*e rea!onable !te-! to communicate them to em-lo"ee!, cu!tomer!, and

other! #ho mi ht be a$$ectedQ com-l" #ith all a--licable la#! and re ulation! and a--l" re!-on!ible !tandard! #here

la#! and re ulation! do not exi!tQ #or* #ith o(ernment a encie! and other!, a! a--ro-riate, to de(elo- re!-on!ible la#!,

re ulation!, and !tandard! ba!ed on !ound !cience and con!ideration o$ ri!*Q include identi$ication and control o$ -otentiall" ad(er!e health, !a$et", and

en(ironmental e$$ect! a! -riorit" con!ideration! in the -lannin and de(elo-ment o$

-roduct!Q conduct and !u--ort re!earch to extend *no#led e about the health, !a$et" and

en(ironmental e$$ect! o$ it! -roduct!, and -rom-tl" a--l" !i ni$icant $indin ! and, a!a--ro-riate, !hare them #ith it! em-lo"ee!, contractor!, cu!tomer!, the !cienti$ic

communit", o(ernment a encie!, and the -ublicQ underta*e a--ro-riate re(ie#! and e(aluation! o$ it! o-eration! to mea!ure -ro re!! and

to $o!ter com-liance #ith thi! -olic"%

Exxon in hi! o p eration! al!o em plo$s other p olicie! li*e i$t! And Entertainment >olic",

>olitical Acti(itie! >olic", International C-eration! >olic", )ealth >olic", :a$et" >olic", @u!tomer

Relation! And >roduct Tualit" >olic", Alcohol And ru U!e >olic", E8ual Em-lo"ment C--ortunit"

>olic", and )ara!!ment In 5he or*-lace >olic"%

""


12/17

(. Management compensation

ExxonMobil u!e! a (ariet" o$ mana ement com-en!ation method!% 5he mana ement recei(e!

!alar", bonu!, com-an" !toc*, and other t"-e! o$ com-en!ation% 5he $ull com-en!ation !ummar" and

the t"-e o$ com-en!ation are li!ted on the next -a e .

"?


13/17

Summary Compensation Table

Name andPrincipal Position Year

Salary($)

Bonus($)

StockAwards($)

OptionAwards($)

Non!"uity#ncenti ePlanCompensation($)

C%an&e inPension'alue andNon"uali ied

e erredCompensation!arnin&s($)

AllOt%er Compensation($)

Total($)

R.W. TillersonChairman and CEO

201220112010

2,567,0002,387,0002,207,000

4,587,0004,368,0003,360,000

19,627,87517,890,87515,465,375

000

000

13,037,2019,755,4017,476,262

447,425519,230443,921

40,266,50134,920,50628,952,558

D.D. !m"hre#s$%O& 'enior (i)e $residen*+*hro! h 12-31-2012

201220112010

1,255,0001,170,0001,085,000

3,144,0002,994,0002,144,000

10,817,1409,859,8607,904,525

000

000

6,427,2514,327,2082,305,873

156,354134,992124,445

21,799,74518,486,06013,563,843

/.W. l ers'enior (i)e $residen*

20122011

1,020,000942,500

2,345,0002,070,000

7,920,9386,679,260

00

00

6,975,3723,837,964

123,905106,937

18,385,21513,636,661

/. . Dolan'enior (i)e $residen*

201220112010

1,077,500991,250920,000

2,527,0002,232,0001,592,000

8,601,3717,219,9625,773,740

000

000

7,738,9754,657,4163,173,100

118,041106,36998,597

20,062,88715,206,99711,557,437

.$. ' i er 'enior (i)e $residen*& $%O +e e)*i e1-1-2013

2012 962,500 2,174,000 7,327,740 0 0 7,281,545 102,616 17,848,401

Source http KK .sec.govKArchivesKedgarKdataK43 K ""#4"? "4" ?4 Kd3: 4?3dde!"3a.htm

"4
http://www.sec.gov/Archives/edgar/data/34088/000119312513152355/d460324ddef14a.htmhttp://www.sec.gov/Archives/edgar/data/34088/000119312513152355/d460324ddef14a.htm


14/17

*. Capital str'ct're

5otal ebt to 5otal E8uit" 7 6% 3 &

5otal ebt to 5otal @a-ital 7 6% + &

5otal ebt to 5otal A!!et! 7 +%4/ &

Lon 75erm ebt to E8uit" 7 4%/3 &

Lon 75erm ebt to 5otal @a-ital 7 4%4/ &

,. -elationship with s'ppliers

6). S%$$!ier di-er"it7ExxonMobil ha! in -lace a di!ci-lined 8uali$ication -roce!! $or !u--lier!% Cnce the bu!ine!!

line ha! determined the o-erational re8uirement!, -rocurement clearl" communicate! tho!e

re8uirement! to -otential !u--lier! and incor-orate! the o-erational re8uirement! into the -ro-o!ed

a reement%5hi! -roce!! i! u!ed #hether ExxonMobil i! -rocurin a -um- $or a re$iner", Kanitorial !er(ice!

at an o$$ice buildin , or hirin a $abricator to build an o$$!hore !tructure% >otential !u--lier! and their

ca-abilitie! are then a!!e!!ed ba!ed on o-erational criticalit" and le(el o$ ri!* a!!ociated #ith the

material or !er(ice re8uired% @on!ideration! includeD )ealth and !a$et" re8uirement!Q 5echnical re8uirement!Q En(ironmental re8uirement!Q Emer enc" re!-on!e ca-abilitie!Q :ecurit" and human ri ht! !tandard!Q

e!i n, con!truction, and -roKect a!!urance and -rocedure!Q >roduct 8ualit" a!!urance, includin -roduct !te#ard!hi-Q :u--lier o-eratin , maintenance, and control -roce!!e!Q and, Financial 8uali$ication!%

Additionall", !u--lier !election ta*e! into account both re ulator" and ExxonMobil -olicie!

re ardin local hirin , material u!e, !u--lier di(er!it", indi enou! -eo-le! !u--ort, hi!toricall"

underutili9ed !e ment! o$ the -o-ulation, and the local econom"% ExxonMobil com-lie! #ith !-eci$ic

!u--lier7related re8uirement! in each countr" #here the" o-erate%

"3


15/17

hen !electin a !u--lier, ExxonMobil e(aluate! the bid! !ubmitted and ma*e a determination

ba!ed on 8ualit", technical ca-abilitie!, and co!t% hen ExxonMobil are -rocurin a com-onent $or a

!-eci$ic -roKect, the !a$et" and (iabilit" o$ the -roKect ma" rel" on a!!urance! o$ -roduct 8ualit"%@urrentl" ExxonMobil relie! on more than 1/ ,000 !u--lier! o$ ood! and !er(ice!, includin

more than 3 ,000 third -art" contractor -er!onnel%

6). S%$$!ier de-e!o$+ent:u--lier de(elo-ment -ro ram! en!ure that ExxonMobilO! -rocurement acti(itie! !tren then

ho!t countr" economie! and -romote ExxonMobil a! a -artner o$ choice% It i! one o$ ExxonMobil'! -rioritie! to con!ider local !u--lier! a! -art o$ their -roKect

a reement! #ith ho!t countrie!% ExxonMobil #ant to build and maintain loball" com-etiti(e !u--l"

chain in$ra!tructure #here(er the" o-erate to enhance !u--l" chain !ecurit" and reduce o-erational

ri!*% )el-in de(elo- local !u--lier! to !er(ice the oil and a! indu!tr" i! -art o$ their national content

!trate " )Al!o, ExxonMobil culti(ate! di(er!it" acro!! their !u--l" chain throu h their U%:%7ba!ed

:u--lier i(er!it" >ro ram% :u--lier i(er!it" >ro ram i! a -roacti(e bu!ine!! -roce!! to -ro(ide

di(er!e !u--lier! e8ual acce!! to -urcha!in o--ortunitie!% It i! con!i!tent #ith >rocurementO!

-roce!!e! and obKecti(e to !ource and deli(er ood! at the lo#e!t total !"!tem co!t% 5o be a#arded

ExxonMobil bu!ine!!, a! #ith an" !u--lier, minorit" and #oman7o#ned !u--lier! mu!t meet

ExxonMobilO! !tandard 8uali$ication re8uirement! includin technical, o-erational and !a$et"

!tandard!%5hi! initiati(e -roacti(el" include! 8uali$ied minorit"7 and #omen7o#ned bu!ine!! enter-ri!e!

M BE! in their -rocurement !ourcin -roce!!% In 2011, ExxonMobil achie(ed a !i ni$icant

mile!tone o$ -urcha!in material! and !er(ice! #orth .36 million in direct !-end and .131 million in

!-end le(era ed throu h contract! #here !u--lier! -urcha!e $rom M BE! on their behal$, $or a total

annual !-end o$ o(er .1 billion%

. "c/'isitions

In 2010 ExxonMobil bou ht 5C Ener " Inc%, -lacin a bi bet on the $uture o$ the dome!tic

natural a! mar*et% Exxon Mobil ha! a reed to i!!ue 0%/0 3 o$ a !hare o$ common !toc* $or each

common !hare o$ 5C% 5he deal re-re!ent! a 2 & -remium to 5C !toc*holder!% :hare! o$ ExxonMobil, -art o$ the o# =one! Indu!trial A(era e, $ell 4%+& to clo!e at .6 %6 , #hile 5C Ener "

Kum-ed 1 & to .4/%36%Al!o, thi! "ear 201+ ExxonMobilO! 2% billion @anadian dollar .2% 2 billion U:

ac8ui!ition o$ @eltic Ex-loration Ltd% ha! clo!ed% @elticO! out-ut and -ro(ed re!er(e! are hea(il"

#ei hted to#ard! natural a!% 5he tran!action, #hich total! about .+%1 billion includin debt

con!ideration!, i! ExxonO! lar e!t !ince it bou ht 5C Ener " in 2010% :e-aratel", ExxonO! Im-erial

Cil Ltd% !ub!idiar" !aid it ac8uired a 0& -artici-atin intere!t in @eltic $ollo#in the com-letion o$

the tran!action%

"


16/17

10. Corporate Citi enship

5he ExxonMobil Foundation i! the -rimar" -hilanthro-ic arm o$ the ExxonMobil @or-oration

in the United :tate!% Founded in 1 a! E!!o Education Foundation, the Foundation'! name #a!

chan ed to ExxonMobil Foundation in 2000 $ollo#in the mer er o$ Exxon @or-oration and Mobil@or-oration%

:u9anne Mc@arron ha! !er(ed a! >re!ident o$ the Foundation !ince Ma" 2010% A! -re!ident o$

the Foundation, M!% Mc@arron i! re!-on!ible $or uidin all o$ the Foundation'! -hilanthro-ic

acti(itie!, includin it! !trate ic $ocu! on !u--ortin *e" element! o$ the ExxonMobil omen'!

Economic C--ortunit" Initiati(e, ExxonMobil Math and :cience Initiati(e, and ExxonMobil Malaria

Initiati(e%

In 2012, to ether #ith it! em-lo"ee! and retiree!, ExxonMobil @or-oration :ED CM , it!

di(i!ion! and a$$iliate!, and ExxonMobil Foundation -ro(ided .2 6 million in contribution!#orld#ide, o$ #hich .116 million #a! dedicated to education%

5heir o#n !-ill -re(ention -ro ram! !ee*! to !tren then -rocedure!, build in la"er! o$

-rotection, in!-ect and maintain e8ui-ment, train o-erator!, and conduct te!t! and drill!%

)o#e(er, in 2011, a -i-eline breach in Montana re!ulted in an e!timated 1, 0 barrel! o$ oil

bein relea!ed into the ello#!tone Ri(er% 5hi! incident brou ht the total (olume o$ h"drocarbon!

!-illed to land or #ater in 2011 to about 13 thou!and barrel!, #ith nearl" / -ercent reco(ered at the

!ite o$ the !-ill% 5he number o$ non7marine h"drocarbon !-ill! reater than 1 barrel in 2011 #a! /+

-ercent hi her than in 200/ and 103 -ercent hi her than 2010%

urin 2011, (e!!el! o#ned and o-erated b" ExxonMobil'! marine a$$iliate! !ur-a!!ed more

than $i(e "ear! #ithout an" !-ill! to #ater reater than 1 barrel% 5here #ere no !-ill! $rom lon 7term

chartered !hi-! in 2011%

Al!o in 2011, the" continued their im-lementation o$ the do#n!tream lobal )uman Factor!

Be!t >ractice uide in order to in!till a 9ero7!-ill mind!et acro!! ExxonMobil% 5hi! initiati(e i!

hel-in Exxon e$$ecti(el" addre!! re$iner" !-ill! cau!ed b" human $actor!, #hich are do#n more than

40 -ercent o(er the -a!t $our "ear!% ExxonMobil i! al!o u!in a !-eciali9ed ri!* tool to identi$"

in$ra!tructure in need o$ u- rade! to hel- them $urther a(oid !-ill!%

hen it come! to the en(ironment, ExxonMobil u!e! a !"!tematic a--roach $or -rotectin

biodi(er!it" and eco!"!tem !er(ice! that reco ni9e! $actor! !uch a! the rarit" o$ indi(idual !-ecie!,

their habitat!, their (ulnerabilit", and cultural (alue% Eco!"!tem !er(ice! are de$ined a! the direct and

indirect bene$it! -eo-le obtain $rom the en(ironment% 5he" include, $or exam-le, $ood, #ater,

recreation, and climate re ulation% >re!er(in the abilit" o$ the en(ironment to -ro(ide the!e im-ortant

eco!"!tem !er(ice! i! a *e" en(ironmental ri!* mana ement area $or ExxonMobil% 5o -rotect critical

eco!"!tem $unction!, and !en!iti(e habitat!, the" ta*e !te-! !uch a! modi$"in en ineerin de!i n,

con!truction, and o-eratin -ractice!, and enhancin #ildli$e habitat!% ExxonMobil al!o !u--ort!

":


17/17

ad(ocac", re!earch, and -artner!hi-! to -rotect biodi(er!it" and eco!"!tem !er(ice! out!ide their $ence

line%

5he >a-ua e# uinea li8ue$ied natural a! > L -roKect o-erate! in an area o$ (aluable

and !en!iti(e biodi(er!it"% 5he com-an" i! im-lementin a Biodi(er!it" :trate " to meet the -roKect'!

de$ined biodi(er!it" obKecti(e!% >art o$ the Biodi(er!it" :trate " in(ol(e! the im-lementation o$

biodi(er!it" o$$!et!% In collaboration #ith @on!er(ation International, a non-ro$it or ani9ation #ith

ex-erti!e in en(ironmental and con!er(ation -ractice!, and in con!ultation #ith local or ani9ation! and

ex-ert!, the com-an" i! de(elo-in recommendation! $or im-lementin a Biodi(er!it" C$$!et eli(er"

>lan% 5hrou h thi! -lan, the" #ill !ee* to con!er(e land in -articularl" !en!iti(e location! to !a$e uard

and -romote !te#ard!hi- o$ local biodi(er!it"%

B" the end o$ 2011, ExxonMobil had more than 2,/00 hectare! o$ land bein acti(el" mana ed

$or the bene$it o$ #ildli$e at 13 ExxonMobil !ite!, com-ared #ith 140 hectare! in 200 %

Em-lo"ee! at ExxonMobil @hemical lobal head8uarter! in )ou!ton, 5exa!, a certi$ied ildli$e

)abitat !ite !ince 2010, learned o$ o#l! threatened b" record drou ht! in the area% A (olunteer team

coordinated #ith the ildli$e @enter o$ 5exa! built an enclo!ure on the 147hectare -ro-ert" and

reintroduced o#l! into the en(ironment%

In :han hai, 34 ExxonMobil (olunteer! ha(e hel-ed to re7e!tabli!h local #etland!% ExxonMobil

i! !ee*in to en a e C! on con!er(ation -roKect! in *e" countrie! and near o-eratin !ite!,

-articularl" to -artner #ith them to im-lement !-eci$ic -ro ram! #ith mea!urable, !cienti$ic re!ult!% In

2011, ExxonMobil contributed more than .2 million to or ani9ation! dedicated to biodi(er!it"

-rotection and land con!er(ation%

"-

ExxonMobil Vlad Andreea

Documents

Transcript of ExxonMobil Vlad Andreea