Fill it to the RIM -- With $85 Million Dollars?
John Chen stands to make a lot of money if he can save BlackBerry:
BlackBerry wants its new executive chairman and interim CEO, John Chen, to turn the company around, and it's set him up with a pay package that should help to keep him on board. Chen is receiving 13 million shares of restricted stock — worth about $85 million today — vesting over the next five years. He'll also see $1 million each year in base salary, with a potential performance bonus of up to $2 million annually. If terminated without cause, he'll see a $6 million termination package.
The odds of BlackBerry being around long enough for all those shares to vest?
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