1. cbvinh's Avatar
    Chen will get $1 million in salary, $2 million in bonus based on performance and $85 million (current value) in stock vested over five years. If he is terminated in the first year, without cause, then he'll get a $6 million termination payment.

    Heins will get $14 million termination payment.

    BlackBerry's Chen Gets Pay Package About $88 Million - Bloomberg
    WorldwideRemix likes this.
    11-07-13 03:22 PM
  2. wincyUt's Avatar
    Sounds fair
    11-07-13 03:26 PM
  3. howarmat's Avatar
    so not as big golden parachute for heins in the end. Still more money than 99% of use will ever see
    11-07-13 04:05 PM
  4. Its Spade's Avatar
    I think chen has a good deal there... if he's any good and stays he makes a boat load of money

    Member of Squircle of Trust!
    11-07-13 04:36 PM
  5. FSeverino's Avatar
    Chen will get $1 million in salary, $2 million in bonus based on performance and $85 million (current value) in stock vested over five years. If he is terminated in the first year, without cause, then he'll get a $6 million termination payment.

    Heins will get $14 million termination payment.

    BlackBerry's Chen Gets Pay Package About $88 Million - Bloomberg
    So he will get $85m over 5 years... but TH was gonna get $55m for being fired?

    lol
    h20work and milo53 like this.
    11-07-13 04:51 PM
  6. Its Spade's Avatar
    Based on performance


    Member of Squircle of Trust!
    11-07-13 05:28 PM
  7. h20work's Avatar
    Based on performance


    Member of Squircle of Trust!
    As it should be based
    JR A likes this.
    11-07-13 05:46 PM
  8. Stephen Cooper's Avatar
    Hallelujah. The TH deal was ludicrous.

    Posted via the Super BlackBerry Z10
    milo53 likes this.
    11-07-13 06:50 PM
  9. homl's Avatar
    So he will get $85m over 5 years... but TH was gonna get $55m for being fired?

    lol
    That is $85m at today's stock price over 5 years. If he screws up, maybe $0. If he performs and the stock returns back to half of what it use to be, maybe $850m. A fair compensate scheme.
    h20work, JR A and FSeverino like this.
    11-07-13 07:21 PM
  10. FSeverino's Avatar
    That is $85m at today's stock price over 5 years. If he screws up, maybe $0. If he performs and the stock returns back to half of what it use to be, maybe $850m. A fair compensate scheme.
    I agree, that's what I meant

    Posted via CB10
    11-07-13 07:28 PM
  11. Puz_zled's Avatar
    Incentives seem more aligned with successfully stabilizing and growing the business.

    Swiped with one thumb from the virtual keyboard of my awesome Z10!
    qwerty4ever likes this.
    11-07-13 08:26 PM
  12. BoldPreza's Avatar
    As it should be based
    Well don't forget they have to set the metrics for that. The CEO of GM was getting a bonus while GM was hemorrhaging money year after year! All because he hit the internal metric for his bonus.
    11-07-13 08:29 PM
  13. eddy_berry's Avatar
    I'm quite happy with that. The better he does, the more he makes. The worse he does, then he walks away with only a fraction of what he could have. Incentives to do better and improve. The other execs better shape up or he will ship them out. It would be in his best interest.
    11-07-13 08:35 PM
  14. h20work's Avatar
    Well don't forget they have to set the metrics for that. The CEO of GM was getting a bonus while GM was hemorrhaging money year after year! All because he hit the internal metric for his bonus.
    I worked for a company that paid managers bonuses for sales losses, yet didn't pay bonuses for gains. I asked the hr person who hired me about it, she replied "well we were expecting them to lose money anyway"

    I quit, and they sold to a competitor one month later.
    milo53 likes this.
    11-07-13 08:59 PM
  15. Pete The Penguin's Avatar
    so not as big golden parachute for heins in the end. Still more money than 99% of use will ever see
    Indeed.

    My Channel: Geeks United C00122408
    11-07-13 10:22 PM
  16. phinsphan's Avatar
    This is Prem Watsa as the head of the comp committee putting this into place I'm sure.

    Pay for performance and greatly aligned with Shareholders.

    Well done. Out if stocks I have owned only Fairfax is better.

    Posted via CB10
    11-07-13 11:55 PM
  17. Bold_until_Hybrid_Comes's Avatar
    Of course you expect these guys to make big bucks. The part that I would like to know is more specifics on the performance based incentives. What goals must be met?

    Posted via CB10
    11-08-13 12:18 AM
  18. sixpacker's Avatar
    The TH deal was revised substantially while he was in post, so things may change.
    Glad I'm not a shareholder they are burning money like there's no tomorrow.
    11-08-13 02:42 AM
  19. Roo Zilla's Avatar
    85M over 5 years for an interim CEO seems a bit excessive. I'm guessing they weren't attracting the good talent with lesser offers.
    11-08-13 02:53 AM
  20. bicyclexpress's Avatar
    Well, I suppose at the very least that we have an answer to how long Chen might be an "interim" CEO. If he jumps ship 6 months into the gig, then he is missing out on a very big pay day.

    But, if he turns things around and BlackBerry's share price recovers, then Chen is going to be taking home some serious, serious coin.
    11-08-13 03:56 AM
  21. DigitalMadness's Avatar
    Not a bad deal. If Blackberry performs badly, he could still walk away with $30 mil (1/3 of current stock value). I don't think Blackberry will go to 0 over the next 5 years.
    But on the other hand, if Blackberry can turn things around, Chen can turn his $88 mil to a billion dollars. A long shot but possible.
    11-08-13 01:53 PM
  22. scribacco's Avatar
    Incentives seem more aligned with successfully stabilizing and growing the business.

    Swiped with one thumb from the virtual keyboard of my awesome Z10!
    he came in to sell the company in pieces not to save it..I cannot believe people cannot understand that $1b cash infusion is just a band aid to buy a couple of months while this patsy find a way to divest the company
    milo53 likes this.
    11-08-13 08:23 PM
  23. nabil114's Avatar
    Prem Watsa got starstruck with John Chen. I would have gotten a better deal.
    11-10-13 04:27 PM
  24. Nindia's Avatar
    I'll do a better job for half that.

    /armchairceo
    11-10-13 05:54 PM

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