Key terms

Additional contributions

Your payroll deduction contributions in excess of the 6% minimum contribution.

After-Tax Account

The account containing the after-tax contributions you made since December 31, 1986, plus earnings on those contributions.

After-Tax Account withdrawal balance

The maximum amount that you may withdraw from your After-Tax Account. It equals total contributions to the After- Tax Account, minus any previous withdrawals.

After-tax contributions

Your After-Tax Account contributions. Also, your pre-1987 contributions to your General Account, if any.

Before-Tax Account

The account containing your before-tax contributions plus earnings on those contributions.

Before-tax contributions

Your tax-deferred contributions to the Before-Tax Account.

Benefit service

Generally, all the time from the first day of employment until you leave the company's employment.

Excluded are:

• unauthorized absences;
• leaves of absence of over 30 days (except military leaves or leaves under the Federal Family and Medical Leave Act);
• certain absences from which you do not return;
• periods when you work as a non-regular employee or as a special agreement person;
• periods generally in excess of 10 years for working in service station, car wash, or car-care center operations;
• when you are covered by a contract that requires the company to contribute to a different benefit program, unless a special authorization credits the service.

Catch-up contributions

Before-tax or Roth 401(k) contributions made in addition to regular contributions by participants age 50 or older who have maximized their Before-Tax contributions.

Combined investment election

By using this election (as opposed to the Individual Account Investment Election), you can make the same investment decision for contributions to your General Account, Before-Tax Account and After-Tax Account.

Company

Refers to Exxon Mobil Corporation, its divisions or participating affiliates, as the case may be.

Company match

The company matches your minimum 6% contribution by crediting 7% of your pay to your General Account.

Direct dividend payment

Distribution of cash dividends of ExxonMobil stock held in your Savings Plan Account.

Distribution

That part of a Savings Plan Account (other than a withdrawal) distributed to you or your beneficiary.

Diversification

The savings approach which minimizes investment risk by distributing savings between a variety of investment options, therefore providing more consistent performance under a wide range of economic conditions.

Electronic funds transfer (EFT)

The Savings Plan feature that permits you to receive most types of Savings Plan payments (excluding loans) electronically to the same account as your paycheck.

Eligible employee

Most U.S. dollar-paid employees of Exxon Mobil Corporation and participating affiliates. Full-time employees not hired on a temporary basis (also called "regular employees") are eligible their first day of employment. Temporary or part-time employees (also called "non-regular employees") are eligible after one year of employment, provided they work at least 1,000 hours during that year.

The following are not eligible to participate in the plan: employees of Station Operators, Inc. (SOI), leased employees as defined in the Internal Revenue Code, barred employees or special-agreement persons as defined in the plan document. Generally, special-agreement persons are persons paid by the company on a commission basis, persons working for an unaffiliated company that provides services to the company, and persons working for the company pursuant to a contract that excludes coverage of benefits.

Eligible plan

A tax-qualified plan such a 401(k) plan, profit-sharing plan, and a defined benefit plan; a section 403(a) annuity plan; a section 403(b) tax-sheltered annuity; or an eligible 457(b) plan maintained by a government employer.

Employee Retirement Income Security Act of 1974 (ERISA)

A federal law governing certain employee benefit plans.

General Account

The account containing the company match and any rollover contributions, and earnings on those contributions.

General Account withdrawal balance

The maximum amount you may withdraw from your General Account. It generally equals the total remaining after- tax contributions to the General Account.

Individual account investment election

By using this election, (as opposed to the Combined Investment Election), you can make different investment decisions for contributions to your General Account, Before-Tax Account and After-Tax Account.

Individual Retirement Account (IRA)

A tax-deferred investment offered by many banks and other financial institutions. IRAs are not part of the Savings Plan. For the purposes of this SPD, IRA also refers to an Individual Retirement Annuity, another investment that can be used to defer taxes on retirement savings.

Minimum contribution

The 6% of your pay that you must contribute by payroll deduction to participate in the Savings Plan.

Minimum distribution

A distribution you receive each year beginning by April 1 following the later of the year you reach age 70-1/2 or the year you retire.

Net unrealized appreciation (NUA)

The difference between the cost basis of ExxonMobil stock at the time the stock was allocated to your account and the value of the stock at distribution (if the value has gone up).

Pay

For purposes of the Savings Plan, base compensation and supplemental compensation that you receive as part of the company's established wage or salary system. Eligible pay includes all overtime. The amount of pay that can be taken into account for employee benefit purposes is limited by tax law (the annual compensation limit is updated annually and can be accessed at https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-contributions)

Qualified Domestic Relations Order (QDRO)

An order issued by a court of competent jurisdiction dividing property between a Savings Plan participant and another party (most commonly the participant's former spouse).

Retiree

Generally, a regular employee who retired at age 55 or older with at least 15 years of benefit service. Retiree status may also be attained by someone who is retired by the company and entitled to long-term disability benefits under the ExxonMobil Disability Plan after 15 or more years of service, regardless of age.

Retiree online community

The Internet site available to retirees from ExxonMobil is www.emretiree.com.

Return

The earnings, gains or losses on an investment, usually expressed as an average annual percentage rate.

Risk

The fluctuation in the level of return on or value of an investment.

Rollover

• From the Savings Plan

The transfer of withdrawals or distributions from the Savings Plan to an IRA or another employer's eligible plan. This enables you to defer taxes on the taxable amount you rolled over.

• Into the General Account or Roth rollover account in the savings plan

The transfer of a distribution from another eligible plan into the Savings Plan. (See Eligible Plan)

• Direct rollover

A distribution that you elect to be made directly from one trustee to another trustee.

Savings Plan Account

Your total interest in the Savings Plan, including assets in the General Account, Before-Tax Account, After-Tax Account, Roth 401(k) Account, Roth-Rollover Account and the Roth Conversion Account.

Savings Plan Telephone Service (STS)

The voice response phone system that allows you to make inquiries and initiate transactions in your Savings Plan Account. It also connects you to Savings Plan Customer Service Associates. (The telephone number is 877-XOM- 401K or 877-966-4015).

Special contributions

Any contributions to the After-Tax Account made by check, not by payroll deduction. 

Terminated employee

A participant who separates employment from ExxonMobil without attaining retiree status.

Trustee

A group of individuals, appointed by Exxon Mobil Corporation, with fiduciary responsibility for managing certain aspects of the Savings Plan Trust.

Vested

Refers to the portion of your Savings Plan Account that you are entitled to receive if you leave ExxonMobil. You are always vested in your own contributions and any investment earnings on both your contributions and the company match. As an employee, you become vested in the company match upon the earliest of one of the following events:

• completion of three years of vesting service;
• the first day of the month in which you reach age 65; or
• your death.

Vesting service

Determines when you are vested in the company match. May include service as a leased employee.

• For Regular Employees — all service with the company including absences without pay of up to one year.
• For Non-regular Employees — based on hours of service. You earn a year of vesting service for each anniversary year of employment in which you work at least 1,000 hours.

Website

The Savings Plan Internet site for accessing account information and making transactions is https://xomsavings.voya.com.

Withdrawal

A transaction requesting a certain amount of cash or stock from your Savings Plan Account.