Ex-HP CEO Hurd Pays $14 Million Oracle Pledge Fee

theodp writes "Valleywag reports that ousted HP CEO Mark Hurd is paying dearly to roll with Oracle, giving up millions of dollars to settle the HP lawsuit that threatened to prevent him from working at his new job. Hurd will forfeit about 345,000 restricted HP shares that he was given as part of his HP exit package, which had a market value of $13.6 million. In addition to announcing the truce against the backdrop of Oracle's OpenWorld conference, HP and Oracle also reaffirmed their vows to each other."

Comments

What I could do with $just 1,000,000

[bogaboga]

I have always wondered what I could do with just $1,000,000. When I hear folks making millions per year, I rethink my strategy to enable me make just a million.

It has never worked! But I am not down yet. The trouble is I am closely getting to my fifties with almost no hope in sight and my mortgage still has 21 years left on it.

My investments need lots of prayer and luck. It looks like I might end up a 'dirty' old retiree. People like this man Hurd should be thankful to God for enabling the possibility for making millions come to light.

Re:What I could do with $just 1,000,000

[McGiraf]

God did not gave him a dime.

Re:What I could do with $just 1,000,000

[Mikkeles]

'Regardless of the rest of the settlement or even the rest of his money, 14 mil would have me sizing up early retirement.'

And that's why you don't have 14 mil! ;^) You'd probably rather enjoy life in your own way (and have other interests) than only work at a job.

Re:What I could do with $just 1,000,000

[Anonymous Coward]

Yeah! Just like Santa enabled the possibility for christmas presents!

Oh - good!

[no-body]

Now, that he "renounces" all that dough - how many regular people have to work less to pay for the cream of the crop up there?

That's one text I'd like to put on a bumper sticker: How many people does it take to pay a C?O ?

Re:Severance Packages

[Mongoose Disciple]

Sexual Harassment is a crime, and unless/until he is convicted of it, he didn't do it, and there was no wrongdoing. ... legally.

Unless you think it's ethical for me to murder you as long as I don't get caught?

big picture

[Hadlock]

14 Million isn't a whole lot if you look at the big picture. Sure, he's giving up 14 million to leave HP, but remember he left HP with ~$30 million severance, and has a salary of $1 million with a bonus cap of $10 million, and receives 35 million shares of oracle stock (cumulative) over five years which alone is worth at least $35 million dollars.
 
I mean, yeah, $14 million is a lot of money I wouldn't want to give up at my current pay rate, but over five years he stands to make $90 million dollars at Oracle, and doesn't have to collect unemployment.