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HP Hurd flying high in 2005

It's certainly nicer than fighting your way up traffic-clogged U.S. Highway 101 every morning.

Part of Hewlett-Packard CEO Mark Hurd's 2005 compensation package included the use of HP's corporate aircraft for commuting between his former home in Ohio to Silicon Valley until he relocated to California, according to a proxy filing with the SEC released on Monday. HP must provide more than peanuts and half a glass of Coke on those flights, since it valued the cost of the flights at $237,095.

It was all part of a 2005 compensation package for Hurd that included $816,667 in salary, restricted stock awards valued at $8.7 million, stock options valued at $1.15 million, and $5.1 million in bonuses including a $2 million signing bonus.

HP's stock price is up about 48 percent since Hurd took over last March, which makes his compensation look stingy compared to the $21 million in severance paid to former HP CEO Carly Fiorina in 2005.