How badly did Red Hat want Frank Calderoni, the former chief financial officer of Cisco, to become its new CFO?

Try $13.5 million in cash and stock – plus an annual salary of $685,000 and an annual bonus potentially matching that salary.

In an SEC filing early Monday, Red Hat (NYSE: RHT) disclosed the financial package to lure Calderoni to Raleigh as a replacement for the retiring Charlie Peters.

The board agreed to the package on June 17 but didn’t disclose the details until the hiring was announced before the financial markets opened Monday.

Here is the SEC filing packed with lots of goodies:

“Mr. Calderoni spent the past eleven years at Cisco Systems, Inc. (“Cisco”), a designer, manufacturer and seller of Internet Protocol-based networking products and services related to the communications and information technology industry. He has served as an Executive Advisor to Cisco since January 2015. Prior to that, he served as Executive Vice President and CFO of Cisco from February 2008 to January 2015.

“In connection with Mr. Calderoni’s appointment, the Compensation Committee of the Board (the “Committee”):

  • approved an annual base salary of $685,000;
  • established a target award amount of $685,000 for the Company’s fiscal year ending February 29, 2016 (“FY2016”) under the Company’s Executive Variable Compensation Plan (“EVCP”);
  • approved the grant of equity awards with an estimated aggregate value of approximately $9.0 million; and
  • approved a cash signing bonus of $4,000,000 and a relocation bonus of $500,000 (the signing bonus and the relocation bonus, collectively, the “Bonus”).

“EVCP Participation in FY2016

“The terms and conditions governing Mr. Calderoni’s participation in the EVCP are the same as those that apply to our other executives, as disclosed in our Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on May 22, 2015 (the “May 2015 Form 8-K”), except that Mr. Calderoni’s award amount will be pro-rated based on the number of days that he is a Company employee during FY2016. The summary of the EVCP terms in the May 2015 Form 8-K is incorporated herein by reference.

“Equity Awards

“The Committee approved equity awards of (i) performance share units (“PSUs”) based on operating performance (“Operating PSUs”) with an estimated target value of $2,250,000, (ii) PSUs based on total stockholder return (“TSR PSUs”) with an estimated target value of $2,250,000 and (iii) restricted stock awards (“RSAs”) with an estimated value of $4,500,000. The terms and conditions governing each of these equity awards are the same as those that apply to our other executives, as disclosed in the May 2015 Form 8-K and our Current Report on Form 8-K filed with the SEC on May 29, 2013 (the “May 2013 Form 8-K”). The equity awards are expected to be granted on or about July 16, 2015. The summary of the equity awards in the May 2015 Form 8-K and the summary of the award agreements for each type of equity award set forth in the May 2013 Form 8-K as well as the form of each award agreement filed as Exhibits 99.2, 99.3 and 99.5 to the May 2013 Form 8-K, are incorporated herein by reference.”

(Note: You can read the full filing at: http://biz.yahoo.com/e/150622/rht8-k.html )