Hurd's Oracle Income Released

Oracle plans to pay newly appointed President Mark Hurd $950,000 a year. The company also says the former Hewlett-Packard Co. CEO, who was ousted by that company last month, is eligible for a fiscal 2011 bonus of $5 million.

In a filing with the Securities and Exchange Commission on Wednesday, Oracle Corp. added that Hurd's bonus will not exceed $10 million. Hurd's offer letter also includes details on potential stock options.

Hewlett-Packard said Tuesday that it is suing Hurd to keep him from taking the Oracle job.