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

Posted by Soulskill on from the money-is-a-great-ambassador dept.

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."

6 of 77 comments (clear)

  1. What I could do with $just 1,000,000 by bogaboga · · Score: 4, Insightful

    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.

    1. Re:What I could do with $just 1,000,000 by McGiraf · · Score: 4, Insightful

      God did not gave him a dime.

    2. Re:What I could do with $just 1,000,000 by Mikkeles · · Score: 3, Insightful

      '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.

      --
      Great minds think alike; fools seldom differ.
    3. Re:What I could do with $just 1,000,000 by El_Muerte_TDS · · Score: 4, Funny

      People like this man Hurd should be thankful to God for enabling the possibility for making millions come to light.

      I always find it funny when religion people would thank God for their success. If they even did some research into their own religion they would know what God isn't the deity that would grant wishes and hand out things like success. If anything it would be the other party that does it (usually in return for souls and what not).

  2. Severance Packages by Sonny+Yatsen · · Score: 3, Interesting

    It always seems a bit perverse that outgoing executives are rewarded so lavishly when being ousted for wrong-doing. Hurd (allegedly) sexually harassed a woman and he got a $14 million+ payday out of it. I'm not going to cry for him if he has to give it up.

    --
    My postings are informational and does not constitute legal advice. Act on it at your risk.
  3. big picture by Hadlock · · Score: 3, Insightful

    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.

    --
    moox. for a new generation.