Carly fiorina hp severance package

The action was filed in U.S. District Court in Northern California by Indiana Electrical Workers Pension Trust Fund and pension funds administered by the Service Employees International Union.

The suit alleges that HP's board breached company policy last year by granting a payout to Fiorina that exceeded times the sum of an executive's base salary, plus target bonuses, without seeking shareholder approval.

That HP policy had been put in place in after shareholder dissent over a $16 million payout to former HP president Michael Capellas, who had been in the position for only about seven months, according to a statement released by law firm Grant and Eisenhofer, which is representing the two pension funds in the new lawsuit.

When Fiorina was terminated in February , she received a severance of $ million, plus stock options and other bonuses that upped her exit package to about $42 million, according to Grant and Eisenhofer