...from the link GUEST rarelamb posted:


Stock Options - VP Dick Chaney

"That still would leave the possibility that Cheney could profit from his Halliburton stock options if the company's stock rises in value. However, Cheney and his wife Lynne have assigned any future profits from their stock options in Halliburton and several other companies to charity. And we're not just taking the Cheney's word for this -- we asked for a copy of the legal agreement they signed, which we post here  publicly for the first time.

The "Gift Trust Agreement" the Cheney's signed two days before he took office turns over power of attorney to a trust administrator to sell the options at some future time and to give the after-tax profits to three charities. The agreement specifies that 40% will go to the University of Wyoming (Cheney's home state), 40% will go to George Washington University's medical faculty to be used for tax-exempt charitable purposes, and 20% will go to Capital Partners for Education , a  charity that provides financial aid for low-income students in Washington, DC to attend private and religious schools.

The agreement states that it is "irrevocable and may not be terminated, waived or amended," so the Cheney's can't take back their options later."