Novell has hired Thomas Francese, 55, as president of its operations in Europe, the Middle East and Africa, the software company said Monday. Previously, he was IBM's vice president of software for the same regions, Novell said. He reports to Ron Hovsepian, who is reorganizing European operations after doing the same in the United States to address financial problems. He replaces Richard Seibt, another former IBM software executive for Europe, who resigned in May.
On Tuesday, Novell disclosed in a regulatory filing details of Francese's compensation for the year: A salary of $450,000 with a bonus between $225,000 and $450,000; a $300,000 signing bonus; an annual $250,000 cash allowance to pay for housing, car expenses and maintenance of his house in Texas; $24,000 to pay for the cost of family travel to the United States; 200,000 stock options with a strike price of $7.45; and the right to purchase 100,000 shares of restricted stock at $0.10 per share.
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