In a filing with the Securities and Exchange Commission, Oracle (NASDAQ:ORCL) outlined incoming president Mark Hurd’s potential pay package.
Hurd stands to earn $950,000 in salary annually, plus a bonus of $5 million to $10 million in fiscal 2011.
Hurd will also receive 10 million shares worth of stock options. The filing did not say when the options would be issued, but at today’s trading price of $24.27 per share, 10 million shares would be worth around 24.3 million.
Yesterday, after Oracle announced the hire, Hurd’s former employer, HP, launched a suit to prevent him from joining a rival company. Hurd was ousted from HP amid a misconduct scandal earlier in the summer.
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