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September 17, 1998

MCCRACKEN GETS GOLDEN HANDSHAKE

By CBR Staff Writer

Silicon Graphics Inc’s latest SEC filing shows former CEO Ed McCracken signed off with a $5.3m golden handshake – $3.25m severance and $2.5m bonus – while his replacement Rick Belluzzo, who starts on a base salary of $990,000, was handed a $1m signing bonus and options to buy up to 3 million shares. The options, which expire in 2008, are excercisable at $11.25, above SGI’s stock price. Former Cray chief Bob Ewald left in June with a $1.15m severance package.

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