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Mark Hurd, who resigned as CEO of Hewlett-Packard a month ago with a severance package of almost $40 million, reportedly will be paid $950,000 a year as Oracle‘s new co-president, and could stand to make as much as $10 million in bonuses.
According to filings with the Securities and Exchange Commission, Hurd also will be offered a stock option to buy 10 million shares of Oracle now, and will be eligible to buy 5 million more annually for the next five years, as long as he stays employed by Oracle.
Hurd also will be up for nomination to the company’s board of directors.
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