Exxon

What was the settlement with Exxon? The settlement among the State of Alaska, the United States government and Exxon was approved by the U.S. District Court on October 9, 1991. It resolved various criminal charges against Exxon as well as civil claims brought by the federal and state governments for recovery of natural resource damages resulting from the oil spill. The settlement had three distinct parts: Criminal Plea Agreement. Exxon was fined $150 million, the largest fine …

…Exxon agreed to pay $100 million. This money was divided evenly between the federal and state governments. Civil Settlement. Exxon agreed to pay $900 million with annual payments stretched over a 10-year period. The settlement has a provision allowing the governments to make a claim for up to an additional $100 million to restore resources that suffered a substantial loss, the nature of which could not have been anticipated from data available at the time of the settlement