He may have only served one year at the helm of HP, but ex-CEO Leo Apotheker will leave the company with a healthy $13,2-million.
In a filing with the Securities & Exchange Commission, HP reveals that Apotheker will receive, in addition to it $1,2-million annual salary, a $7,2-million severance payout, $2,4-million in bonues and stock options worth $3,6-million.
In addition, he will keep two-thirds of the performance-based restricted stock from his original contract, which could be worth a further $10-million, depending on how HP performs.
HP will also pay to relocate Apotheker and his family back to Europe.
Meanwhile, incoming CEO Meg Whitman will earn just R1 per year, although she will be given stock options and bonuses that could bump this up to R6-million.