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To: Dorine Essey who wrote (154747)	3/12/2000 1:49:00 AM
From: calgal	Read Replies (1) \| Respond to of 176387

Hi Dorine! OT OT -- I thought this was an interesting story about Michael Capellas' compensation in 1999. I hope Herb had a great birthday and Cynthia is feeling better! :)Leigh nytimes.com March 10, 2000 Compaq Chief Gets Almost $7 Mln Pay Package in '99 Filed at 7:39 p.m. ET By Reuters WASHINGTON (Reuters) - Compaq Computer Corp. (CPQ.N) paid its President and Chief Executive Officer Michael Capellas almost $7 million in 1999, including a $1 million bonus as he helped build investor confidence in the company. Capellas received received $4.97 million in restricted stock awards and $850,000 in salary last year in addition to the bonus, according to the company's proxy statement filed with the Securities and Exchange Commission on Friday. He also received 1.8 million stock options with exercise prices that range from $22.69 a share to $25.13 a share and expire throughout 2009, according to the filing. The options would be worth an estimated $27.9 million in Compaq's stock rose five percent a year and possibly $70 million if the stock rose 10 percent a year, the proxy showed. ``Capellas has developed and implemented effective strategies and organization alignment to ensure progress in Compaq's transition to an Internet information technology leader,' the proxy said. Capellas, 45, replaced the former CEO Eckhard Pfeiffer, who was forced out of the company. In 1999, Capellas received $400,000 in salary, $200,000 in bonus and 200,000 stock options. Compaq, the world's second-largest computer maker, saw its net income during the fourth quarter of 1999 fall 56 percent, to $332 million from $758 million the same quarter a year ago, as the company tried to rebound from plunging computer prices. The new company chief also holds about $160,000 worth of exercisable, in-the-money options and another $4.32 million worth of unexercisable, in-the-money options as of Dec. 31, the proxy revealed. Compaq shares closed up 15/16 at 28-1/2 on the New York Stock Exchange.