According to HP's Securities and Exchange Commission filing, Apotheker will get a base salary of $1.2 million for the next two years, after which the board will review his compensation. In addition, his annual incentive for fiscal 2011 will be at least 200% of that base salary, up to a maximum of 500% of the base salary: In other words, his minimum pay will be $3.6 million.
And just to further demonstrate how executive compensation is so different than the average Joe's, here are some other terms of his employment agreement:
- Vacation: While HP doesn't say exactly how much paid vacation Apotheker will get, he will "In no event ... receive less than twenty-five (25) days of paid vacation time per employment year."
- Perks: Again, while no specifics are supplied, the mention of the use of the company jet is.