One of the best paid CEOs resigned today amidst scandal. Mark Hurd of HP left his job after it was revealed he had a relationship with a woman who worked with the company on marketing issues. According to the AP, HP "said he falsified expense reports and other financial documents to conceal the relationship and help get the contractor paid for work she didn't do." Hurd, who cut pay for employees last year, earned a staggering $30.3 million dollars in 2009.
In resigning Hurd ensured himself a hefty payday. According to a proxy filing for 2009, had Hurd been fired for cause he would've been entitled to $27.2 million, if let go without cause the number goes up to $52.9 million. CNBC sources say his payday for leaving the company voluntarily will be between $40 and $50 million.