ConocoPhillips CEO's Compensation Up 25 Percent

By: Associated Press
By: Associated Press

NEW YORK (AP) - ConocoPhillips' says its top executive received
a 25 percent increase in compensation last year, as higher oil
prices helped the Houston company nearly triple its net income.

Chairman and CEO Jim Mulva was paid $17.9 million in 2010,
according to an Associated Press analysis of a company filing. His
salary was $1.5 million. Most of Mulva's pay increase came from a jump in a performance-based cash bonus to $4.3 million from $1.3
million bonus in 2009.

Under Mulva's, ConocoPhillips has been shedding assets as it
realigns itself to focus more on oil sands and shale gas production. Company shares have jumped about 53 percent in the last 12 months.

The AP's calculation counts salary, bonuses, perks and stock and
options awarded to the executive during the year.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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