I have been unable to find any reference to BOD members getting bonuses if
the merger goes through; just executives. I have not check to see if any
execs eligible for the merger bonus also sit on either of the BODs.
Bonus payments to directors ought to be in the prospectus; has anyone gone
through that?
At 12:42 PM 2/14/2002 -0600, Denys Beauchemin wrote:
>I saw the same story, but the question was posed with respect to the folks
>who signed the letter, i.e. board members. You will notice the absence of
>Fiorina's signature on the letter. So, does the board get bonuses if the
>merger goes through? That's the one I want see and the one we can tie to
>the letter signers.
>
>
>Kind regards,
>
>Denys. . .
>
>Denys Beauchemin
>HICOMP
>(800) 323-8863 (281) 288-7438 Fax: (281) 288-7438
>denys at hicomp.com www.hicomp.com
>
>-----Original Message-----
>From: HP-3000 Systems Discussion [mailto:[log in to unmask]]On Behalf Of
>Tom Brandt
>Sent: Thursday, February 14, 2002 12:25 PM
>To: [log in to unmask]
>Subject: Re: A valentine to Walter Hewlett
>
>Google is a wonderful thing...
>
>http://www.nando.net/technology/story/171636p-1657890c.html
>
> From the above article:
>
><excerpt>
>Other key HP and Compaq executives would collect huge paychecks if HP
>fulfills its goal of taking over Compaq by June 30.
>
>Ten HP executives would receive a total of $33.1 million during 2002 and
>2003, according to the SEC filing.
>
>Palo Alto-based HP also would award new contracts granting raises to six of
>its executives, including Fiorina. In addition, HP
>would pay an unspecified number of other key employees bonuses equal to 50
>percent of their annual salaries and bonuses if the deal is completed,
>according to the SEC documents.
>
>An unspecified number of Compaq executives would be paid a total of $22.4
>million if they remain with the combined company through the first
>anniversary of the deal.
>
>Although he turned down the merger bonus, Capellas would receive a $14.4
>million severance payment if he loses his job during the first year after
>the deal closes, the SEC filing said.
></excerpt>
>
>At 12:19 PM 2/14/2002 -0600, John Lee wrote:
> >The one I saw (don't have copy of, will have to search) showed bonuses for
> >many execs from both companies. As best I recall, they were payable upon
> >approval of the merger, and not tied to performance of the post-merger
> >company. This concerns me. But I'll disclaimer until I see the wording of
> >the bonus clauses.
> >
>
>--------------------------------
>Tom Brandt
>Northtech Systems, Inc.
>313 N. 1st Street
>Ann Arbor, MI 48103
>http://www.northtech.com/
>
>* To join/leave the list, search archives, change list settings, *
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>
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--------------------------------
Tom Brandt
Northtech Systems, Inc.
313 N. 1st Street
Ann Arbor, MI 48103
http://www.northtech.com/
* To join/leave the list, search archives, change list settings, *
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