Welcome!

Log Management Authors: Dana Gardner, Pat Romanski, Elizabeth White, David H Deans, Carmen Gonzalez

Related Topics: Log Management, Microservices Expo, Recurring Revenue

Log Management: Article

Oracle and HP Can't Cooperate in the IT Marketplace: Ellison

By filing a "vindictive lawsuit" vs Oracle & Mark Hurd the HP board is acting with utter disregard for the Oracle-HP partnership

"By filing this vindictive lawsuit against Oracle and Mark Hurd, the HP board is acting with utter disregard for [the Oracle-HP] partnership," thundered Larry Ellison Tuesday in a statement.

“Oracle has long viewed HP as an important partner,” the Oracle CEO noted, adding “The HP Board is making it virtually impossible for Oracle and HP to continue to cooperate and work together in the IT marketplace."



On September 2, Oracle offered the job of Co-President to Hurd, in a letter subsequently filed with the Securities & Exchange Commission.

Here it is in full:

September 2, 2010

Mark Hurd

Dear Mark: We are pleased to offer you the position of President, Worldwide Sales, Consulting, Marketing, & Support of Oracle Corporation (“Oracle”). You will be an employee of Oracle America Inc., reporting to Larry Ellison. We offer you a starting annual base salary of $950,000. In addition, you will be eligible for a bonus under the FY11 Executive Bonus Plan of $5,000,000 for 100% target achievement, and subject to an overall bonus cap of $10,000,000.

After you commence your employment, and subject to customary corporate actions, we expect that you will be nominated to stand for election to the Board of Directors of Oracle at the annual shareholder meeting on October 6, 2010. We will expect you to cooperate and take all necessary or otherwise desirable actions to facilitate that nomination and election.

Conditioned upon your acceptance of this offer and commencement of employment at Oracle, the Compensation Committee of the Board of Directors has given approval to grant you a stock option (“Option”) to purchase 10,000,000 shares of common stock at its first meeting following your hire date, consistent with Oracle’s practice. In addition, the Compensation Committee has also given approval to grant you an Option to purchase an additional 5,000,000 shares of common stock per year in each of the next five years (for an aggregate of 25,000,000 additional shares over the next five years) as part of Oracle’s annual corporate-wide option grant process, assuming you are still employed at Oracle in the same capacity on the date of each such annual grant. All Options are pursuant to the Amended and Restated Oracle Corporation 2000 Long-Term Equity Incentive Plan. The effective grant date of these additional Option grants will be the date the Compensation Committee approves the annual grant. Each Option will have an exercise price based upon Oracle’s stock price at the close of the market on the Option grant date. The Options will be issued under a written agreement and will be subject to qualification under all applicable securities regulations. As long as you remain continuously employed by Oracle or its affiliates, you will be eligible to exercise your right to purchase 25% of the Option shares per year; beginning one year after the Compensation Committee approves the applicable Option grant, subject to the terms of your written stock option agreement and your compliance with Oracle’s Insider Trading Policy.

You agree to comply with the Insider Trading restrictions applicable to Oracle Officers and Directors throughout your employment with Oracle and for one fiscal quarter following your separation from Oracle, regardless of the reason for your separation. Among other things, under these restrictions, you are prohibited from trading in Oracle securities during the last month of each fiscal quarter and until two full trading days following Oracle’s earnings announcement for that fiscal quarter. Notwithstanding the foregoing, your proposed Option referenced in this letter agreement shall be subject to the time limitations on exercise set forth in Section 6(i) of the Plan.

This offer of employment is contingent upon your satisfactory completion of Oracle’s pre-employment background screening process, which will include education and employment verification as well as a criminal records check.

To accept this offer, please sign below as well as the enclosed Employment Agreement and Mutual Agreement to Arbitrate, Proprietary Information Agreement, Data Privacy Agreement, and any remaining new hire documents and return them to Oracle, ATTN: Americas HRSSC, 1001 Sunset Boulevard, Rocklin, CA 95765 for delivery by September 12, 2010.

If you have any questions regarding the conditions of your offer, please do not hesitate to contact me at (XXX) XXX-XXXX. This offer remains open until September 12, 2010.

Sincerely,

/s/ Joyce Westerdahl

Joyce Westerdahl

Senior Vice President, Human Resources

Enclosure: New Employee Packet

AGREED AND ACKNOWLEDGED:

/s/ Mark Hurd

Mark Hurd

Date: September 3, 2010

 

Hurd accepted and countersigned the offer the following day and Oracle then announced the new appointment on Labor Day, September 6, 2010.

More Stories By Jeremy Geelan

Jeremy Geelan is Chairman & CEO of the 21st Century Internet Group, Inc. and an Executive Academy Member of the International Academy of Digital Arts & Sciences. Formerly he was President & COO at Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences across six continents. You can follow him on twitter: @jg21.

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.


IoT & Smart Cities Stories
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...
Whenever a new technology hits the high points of hype, everyone starts talking about it like it will solve all their business problems. Blockchain is one of those technologies. According to Gartner's latest report on the hype cycle of emerging technologies, blockchain has just passed the peak of their hype cycle curve. If you read the news articles about it, one would think it has taken over the technology world. No disruptive technology is without its challenges and potential impediments t...
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of San...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...