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NEW YORK — Oracle plans to pay newly appointed co-president Mark Hurd a base salary of $950,000 annually and said the ousted Hew lett-Packard chief executive is eligible for a target bonus of $5 million in the current fiscal year.
Oracle released the details of Hurd’s pay package in a filing with the Securities and Exchange Commission on Wednesday. It includes stock options totaling 10 million shares. The new package will come on top of a severance payment from HP that could exceed $40 million.
HP interim chief executive Cathie Lesjak says the company’s quarter-century alliance with Oracle has been “strained” by the dispute.
