1. saintforlife's Avatar
    BBRY investors be damned I guess.
    11-04-13 06:28 PM
  2. Omnitech's Avatar
    My understanding is that the $55M was predicated on the company being sold.

    Since BBRY is not being sold, then Heins probably will not receive the $55M.

    He will probably get some sort of severance, but it will probably be much less.

    Personally I think 90% of all the hand-wringing about the supposed conspiracy of Heins just engineering a golden parachute was absurd. People that don't know much about a company but who feel it necessary to find someone to blame can always blame the one person they know the name of who they think represents everything bad about the company. Things are rarely so simple.
    Shanerredflag likes this.
    11-04-13 06:33 PM
  3. WArcher's Avatar
    BBRY investors be damned I guess.
    There was a clause in there that if he got terminated without a change in control (as what happened today) then he's due to get about $19M or so.
    11-04-13 06:39 PM
  4. pmccartney's Avatar
    About $22M in total compensation although if they can somehow manage to convince him to resign it will be significantly less.
    11-04-13 06:47 PM
  5. dalinxz's Avatar
    He's resigning and stepping down, he may have been pressured to leave, but he wasn't fired, so he doesn't end up with any penalty. He gets the remainder of his annual salary and restricted stock units. That is all. BlackBerry said they won't comment on it.

    Posted via CB10
    11-04-13 10:32 PM
  6. johnyblaze's Avatar
    Why would he resign if it means leaving millions on the table?
    11-04-13 11:43 PM
  7. dalinxz's Avatar
    That's the million dollar question, they must have found out that he wasn't acting in the best interest of the shareholders or that he was intentionally trying to sell the company in order to secure his exit package. They must have somehow pressured him to resign in order to save face. He hasn't been fired because he's still there for another two weeks.

    We will likely never know though what happened at the backend of things, and BlackBerry may have negotiated some other package, they did say they won't comment on what he gets.

    Posted via CB10
    11-05-13 12:35 AM
  8. Barljo's Avatar
    It may be different over there, but under the UK employment law there is a thing called a Compromise Agreement. In short "you can leave immediately, we won't say we sacked you, and here's some money in lieu of your notice period and other benefits" agreed between the company and the individual.

    Obviously it's confidential between the parties, and I think can't even be referred to. Makes sense that this sort of thing has happened in this situation.

    Posted via CB10
    11-05-13 01:34 AM
  9. johnyblaze's Avatar
    It may be different over there, but under the UK employment law there is a thing called a Compromise Agreement. In short "you can leave immediately, we won't say we sacked you, and here's some money in lieu of your notice period and other benefits" agreed between the company and the individual.

    Obviously it's confidential between the parties, and I think can't even be referred to. Makes sense that this sort of thing has happened in this situation.

    Posted via CB10
    SO he probably got his 22 million but now they get to keep it quite.
    11-05-13 04:38 AM

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