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Title: |
Nonemployee Directors' Deferred Compensation Plan [2001] |
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Date: |
2001 |
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Preview shows 2KB of 18KB total |
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$31 |
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ID: |
#203752 |
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EXXON MOBIL CORPORATION
2001 NONEMPLOYEE DIRECTORS' DEFERRED COMPENSATION PLAN
(as adopted effective January 1, 2001)
1. Purpose
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The purpose of the Plan is to provide nonemployee directors of the
Corporation with an opportunity to defer compensation as a director.
2. Effective Date; Transition
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(a) This Plan shall become effective on the Effective Date.
(b) For incumbent directors and directors elected after the Effective
Date, this Plan replaces the Prior Plan. Accounts of incumbent
directors under the Prior Plan shall, as of the Effective Date, be
transferred to this Plan with the account balance credited as deferred
cash or, to the extent the incumbent director elects reallocation
under Section 6(e), deferred stock units. Deferral elections made by
an incumbent director under the Prior Plan shall remain in effect for
purposes of this Plan, subject to the participant's ability to make a
prospective change under Section 5(c)(3) or a one-time reallocation
under Section 6(e).
(c) Retired directors shall not be entitled to participate in this Plan.
Accounts of retired directors under the Prior Plan shall remain
subject to the terms and conditions of the Prior Plan.
3. Definitions
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In this Plan, the following definitions apply:
"Account" means the account maintained by the Corporation for deferred
cash and deferred stock units credited under Section 6.
"Administrator" means the Secretary of the Corporation.
"Board" means the Board of Directors of the Corporation.
"Compensation" means the cash retainer payable to a nonemployee
director for service on the Board, for service as member of any Board
committee, and for service as chairman of any Board committee, together
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