Impressive parting gifts…

July 22, 2004

When Jeffrey Hawn left Houston-based BMC Software (BMC) earlier this year, he received some impressive parting gifts, according to the company’s recent proxy. particularly given the fact that as vice president for operations, he wasn’t even top man on the totem pole. Hawn, who joined the company in 2000, received a severance payment of $1.9 million — more than four times his base salary of $425,004. The company notes that under the terms of Hawn’s severance agreement — an agreement that’s similar to those offered to other BMC execs — he was entitled to receive two times his base salary plus two times his annual cash bonus. But wait….that’s not all: Hawn also received over $1 million in loan forgiveness last year for a $2.85 million loan he received back when he was hired.

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