If Mark Hurd joins Oracle as its president, he will earn a base salary of $950,000, with the potential for $10 million in bonuses, according to his offer letter.

Hurd will be president of worldwide sales, consulting, marketing and support at Oracle, reporting to Oracle chief executive Larry Ellison, according to the document, which was submitted to the Securities and Exchange Commission. Hurd will also be nominated to serve on the company's board of directors at the annual shareholder meeting on Oct. 6.

If he meets his fiscal year 2011 targets, Hurd will receive a $5 million bonus, but he could take home up to $10 million. He was also granted a stock option to purchase 10 million shares of common stock, with the option to buy 5 million additional shares per year over the next five years.

Whether or not Hurd is able to take advantage of this offer remains to be seen. One day after Oracle announced that it had offered Hurd the job as president, Hurd's former employer – Hewlett-Packard – sued him for breach of contract.

Hurd violated a confidentiality agreement he signed with HP, according to the suit. HP wants monetary damages and injunctive relief to bar Hurd from disclosing the company's trade secrets – which would essentially ban Hurd from taking the Oracle job.

Ellison said Tuesday that the HP lawsuit was vindictive.

"Oracle has long viewed HP as an important partner," Ellison said in a statement. "By filing this vindictive lawsuit against Oracle and Mark Hurd, the HP board is acting with utter disregard for that partnership, our joint customers, and their own shareholders and employees. The HP Board is making it virtually impossible for Oracle and HP to continue to cooperate and work together in the IT marketplace."

Hurd resigned as HP's CEO in August amidst a sexual harassment and expense report scandal. One week later, a group of shareholders filed suit against the company's board, alleging, among other things, gross mismanagement and waste of corporate assets.