ConocoPhillips CEO exits with $260M parachute

• James Mulva leaves energy giant with over %24260 million in total compensation
• In 2011%2C the retired CEO%27s pay package totaled %24141 million
• Total shareholder return on ConocoPhillips stock in 2012%3A 10%25

After ConocoPhillips CEO James Mulva's stunning $141 million pay package in 2011, some thought his 2012 golden parachute from the energy giant couldn't be much bigger. They were wrong.

Mulva, who retired in June, received more than $260 million in 2012, based on the company's proxy filing Thursday, which totaled the former CEO's compensation, retirement and deferred pay in his final year of full-time work.

Mulva, 66, hauled in $140.8 million in 2011, exercising previously awarded stock options on top of compensation valued at $19.2 million.

In 2012, the ConocoPhillips CEO received about $12 million -- or 38% less than his 2011 annual pay for from the oil and gas exploration company. Total shareholder return was up about 10% in 2012.

The ConocoPhillips proxy, filed with federal securities regulators, says Mulva gained $132 million from vested shares and exercising stock options in 2012. That's on top of a $68 million payout under the company's executive pension plan and another $52 million in deferred compensation.

Houston-based ConocoPhillips says the options were part of prior grants due to expire in 2014. Mulva was able to take ownership of the restricted shares upon his retirement, the company says.

Mulva didn't just leave with a massive compensation package. The company says it provided retirement gifts valued at nearly $39,000. The gifts were not described, but Concoco says they they reflect company practice of presentations to long-time employees. ConocoPhillips also picked up Mulva's $22,000 tax bill on the gifts.

Mulva, 66, has been CEO of the company since 2002 and spent over 35 years at Phillips Petroleum before the 1999 merger with Conoco,