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/

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