Mark Hurd Will Receive A Hefty Compensation

Mark Hurd resigned on Friday from his position as a CEO of Hewlett-Packard Company (NYSE: HPQ), but according to his terms of resignation he is not walking away empty-handed.

Mr. Hurd will receive $12.2M in severance payment from Hewlett-Packard Company (NYSE: HPQ). He will also have a right to buy 775K HPQ shares via vested options, and he will get 330,177 restricted stock units and 15,853 time-based restricted stock units. His financial situation looks very good, and he won't have to worry about his medical and dental insurance for the next 18 months. He will also receive other benefits that departing employees receive.

CNBC reported that Hurd's compensation could reach between $40 million and $50 million. In resignation, Mr. Hurd ensured extra $20 million or $30 million, because in case of his termination for cause he would receive $27.2 million and in case of termination not for cause he would receive $52.9 million.

In the last five years, Mark Hurd was payed $100.23 million for his work at Hewlett-Packard Company (NYSE: HPQ).