Chevron CEO’s Pay Rises to $9.98 Million
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ChevronTexaco Corp. Chief Executive David O’Reilly’s compensation rose 2.2% last year to $9.98 million as soaring oil and fuel prices boosted profit at the second-biggest U.S. oil company.
O’Reilly’s salary rose 15% to $1.51 million and his bonus climbed 25% to $3.95 million, the San Ramon, Calif.-based company said in a proxy statement filed with the Securities and Exchange Commission.
The CEO, 58, also received options valued at $3.48 million. Other compensation, including payouts of vested performance shares and use of the company’s aircraft, totaled $1.046 million.
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