Colin Barr

Following the money in banking, economics, and Washington

More money for Mark Hurd

August 26, 2010: 4:02 PM ET

Life after Hewlett-Packard is being good to Mark Hurd.

Three weeks after he was forced out as the CEO of the computer giant, Hurd filed to sell $30 million worth of stock, Bloomberg reported. The sale appears to cover stock options Hurd was granted during his five years atop HP (HPQ) and was allowed to exercise as part of his rich separation agreement.

Rolling in it

The stock sale will allow Hurd to maintain his lavish income while he looks for another job. Hurd has been averaging almost $33 million a year in annual compensation, according to HP filings.

He took in $12 million in cash when he agreed to leave, after the board investigated a sexual harassment claim and found Hurd had been fudging his expenses and doing other unsavory things. He also got to keep much of the stock and options he'd received as he bulked up the company's numbers.

But there is no replacing the perks Hurd gave up when leaving HP, such as the $185,000 he was billing the company annually on average for security services and the $211,000 he collected over the past three years for "relocation expenses." Not until he relocates to his next corporate victim, that is.

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Colin Barr
Colin Barr
Senior Writer, Fortune

Colin Barr has covered finance for Fortune.com since November 2007. Previously he was a writer and editor for TheStreet.com, winning a 2006 Society of American Business Editors and Writers award for "The Five Dumbest Things on Wall Street," and for Dow Jones Newswires. He is a 1991 graduate of Penn State and lives in Port Washington, N.Y., with his wife Meena Bose and their two kids.

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