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Edition: U.S. Article Comments (0) Video Save Email Print Reprints Most Popular Most Shared Thousands protest Koran burning plan in Afghan north 5:18am EDT U.S. waits Japan nod on F-35 security pact 09 Sep 2010 Pastor backs off Koran-burning plan for now | Video 11:48am EDT Host company pulls plug on Florida pastor's website 09 Sep 2010 Judge rules ban on gays in military unconstitutional 6:08am EDT Four dead in San Francisco suburb gas line inferno | Video 11:16am EDT Factbox: Key problems facing new Nokia CEO Elop 8:24am EDT Florida pastor cancels Koran-burning plan | Video 09 Sep 2010 "Project Runway" keeps NY fashion week guessing 8:23am EDT Wall Street rises with energy, consumer shares 11:02am EDT Judge rules ban on gays in military unconstitutional 6:08am EDT Thousands protest Koran burning plan in Afghan north 5:18am EDT Month of Ramadan 09 Sep 2010 Pastor backs off Koran-burning plan for now | Video 11:48am EDT Strange and unusual 09 Sep 2010 New York Fashion Week 09 Sep 2010 B vitamins found to halve brain shrinkage in old 08 Sep 2010 Florida pastor cancels Koran-burning plan | Video 09 Sep 2010 Dubai World reaches $24.9 billion debt deal 11:47am EDT Host company pulls plug on Florida pastor's website 09 Sep 2010 NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here. Hurd's Oracle hire package worth millions Tweet This Share on LinkedIn Share on Facebook Related News Analysis: HP-Oracle rift over Hurd may not mend easily 8:02am EDT Analysis & Opinion Oracle shows off art of war by hiring Mark Hurd HP’s deal mojo unrestrained by l’affaire Hurd Related Topics Technology » Related Video Hurd's move to Oracle under fire Tue, Sep 7 2010 Mark Hurd, chairman, CEO and president of HP speaks at the Fortune Brainstorm Tech conference in Pasadena, California, in this July 24, 2009 file photo. Credit: Reuters/Fred Prouser/Files By Gabriel Madway and Liana B. Baker SAN FRANCISCO/NEW YORK | Fri Sep 10, 2010 8:02am EDT SAN FRANCISCO/NEW YORK (Reuters) - Oracle Corp has offered its new co-president, former Hewlett-Packard chief Mark Hurd, a hiring package with a bonus of up to $10 million and options potentially worth tens of millions more. Oracle, the world's No. 3 software maker, named Hurd co-president on Monday, a month after he stepped down from HP because of a scandal involving expense reports and a female contractor. According to the offer letter, filed on Wednesday with the U.S. Securities and Exchange Commission (SEC), Oracle is offering Hurd a starting annual base salary of $950,000 and a bonus of as much as $10 million, plus options to purchase 10 million Oracle common shares after the next board meeting. Fred Whittlesey, an executive compensation consultant with the Hay Group, said it was difficult to estimate the value of stock options because no one knows where Oracle's share price may go in the future. Using the valuation of options disclosed by Oracle in its most recent annual report, Whittlesey estimated Hurd's hiring package to be worth about $72 million, with $66 million of that in options that vest over four years. That estimate, which Whittlesey called "theoretical" and based on accounting rules, would only be realized after four years of service from Hurd and Oracle shares rising to $30.60. Whittlesey said it was normal for a new executive such as Hurd to have a hiring package larger than what he will receive in future years. Hurd's offer letter also included a grant to buy an additional 5 million Oracle common shares each year for the next five years. BIG PAY At HP, Hurd was one of the technology sector's most well-paid chief executives. He took home roughly $98 million in total compensation from HP over the past three years, including $30 million in fiscal 2009. Safra Catz, who shares the president role with Hurd at Oracle, had total compensation of $36.4 million in fiscal 2010, ended May 31, according to the company's proxy statement. On Tuesday, HP sued Hurd, asking a California court to block him from taking a job with a rival to which he could reveal HP trade secrets. Oracle and HP compete in the server computer market. Hurd walked away from HP with an exit package worth an estimated $34.6 million, including a severance payment of $12.2 million and restricted stock. At Oracle, the 53-year-old Hurd will be responsible for sales and marketing, consulting and Oracle's global business units, according to a document Oracle filed with the SEC on September 8. Oracle shares closed down 0.5 percent at $24.14 on Nasdaq. (Reporting by Gabriel Madway in San Francisco, Liana B. Baker in New York and S. John Tilak in Bangalore; Editing by Vyas Mohan, John Wallace, Steve Orlofsky, Gary Hill and Carol Bishopric) Technology Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. 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