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HP Sues Ex-CEO Hurd Over $950K Job At Oracle

SAN FRANCISCO (AP) — Hewlett-Packard Co. is suing former CEO Mark Hurd to stop him from taking a job at rival Oracle Corp. The complaint filed Tuesday in a California state court comes a day after Oracle hired Hurd as co-president to help lead the database software maker as it tries to muscle in on more of HP's turf.

SAN FRANCISCO (AP) — Hewlett-Packard Co. is suing former CEO Mark Hurd to stop him from taking a job at rival Oracle Corp.

The complaint filed Tuesday in a California state court comes a day after Oracle hired Hurd as co-president to help lead the database software maker as it tries to muscle in on more of HP's turf.

The lawsuit shows the growing rancor between the two companies, which are longtime partners that are now competing in the market for computer servers.

HP claims that Hurd wouldn't be able to perform the job at Oracle without spilling HP's trade secrets and violating a confidentiality agreement. Hurd signed such an agreement as part of a severance package from HP that could top $40 million.

The lawsuit mentions that Hurd was responsible for preparing HP's strategic plans and was privy to a "highly confidential" analysis of Oracle's competitiveness against HP.

Oracle plans to pay Hurd a base salary of $950,000 a year. The company also says he is eligible for a fiscal 2011 bonus of as much as $10 million.

Oracle released the details of Hurd's pay package in a filing with the Securities and Exchange Commission on Wednesday.

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