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. Last Updated: 07/27/2016

Fiorina Nets $21.4M Severance

SAN FRANCISCO -- Carly Fiorina will receive $21.4 million in severance after being ousted as chief executive of Hewlett-Packard last week. She also gets to keep her computer.

Hewlett-Packard, the No. 2 maker of personal computers, will offer its technical support to Fiorina for three months, put $50,000 toward career and financial advice and maintain her home security for a year, according to a filing Friday with the U.S. Securities and Exchange Commission.

The severance, and her compensation of $8.15 million in 2004, raises Fiorina's total payout from Palo Alto, California-based Hewlett-Packard to $188.6 million since she was hired in 1999. That includes $65.6 million worth of shares that she received when she was lured from Lucent Technologies.

Fiorina will also "receive a cash payment for the balance of her unused vacation time," Hewlett-Packard said in the filing. The company did not disclose the amount. Fiorina will receive $14 million of her severance in cash, representing 2 1/2 times her compensation last year. Another payment of $7.38 million is related to bonuses.

In the year ended Oct. 31, 2004, Fiorina's package included $1.4 million in salary, a bonus of $1.57 million and options to buy 6.07 million shares within a year. A year earlier she earned $6.64 million, including a bonus of $2.1 million. In 2002, she earned $10.7 million.

Hewlett-Packard asked Fiorina to resign after she failed to produce the profits she had promised from the $18.9 billion purchase of Compaq in 2002.