September 20, 2010 - HP and Oracle announced Monday they had settled a lawsuit brought by HP against former CEO Mark Hurd after he joined Oracle as co-president two weeks ago.
Details of the settlement were withheld by the companies but different accounts surfaced regarding the terms. The Associated Press reported Hurd will forfeit approximately $14 million in stock in exchange for joining Oracle. Hurd has already been cleared to receive $12.1 million under the terms of his severance and has already moved to sell $30 million of stock options that came with the package.
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