The software company said the payment to Lawrie, made on Friday, is equal to base salary and target bonuses for two years. Lawrie, a long-time board member, on April 13.
The company also said that it agreed to accelerate the vesting of 800,000 options and 200,000 restricted options when Lawrie left the company. Lawrie will have a year to exercise the options, according to the filing with the Securities and Exchange Commission.
Siebel and Lawrie, who had been CEO, "agreed mutually that he would resign the position," the company said last week. Lawrie, who spent 26 years at IBM, replaced , who founded the business software company in the 1990s.
San Mateo, Calif.-based Siebel is facing increasing heat from its investors as the company's financial outlook has deteriorated while it sits on a sizable stash of cash.
Earlier this month, Siebel announced that its first-quarter results