1. cbvinh's Avatar
    More details on the investment:

    Chen - $1 million salary, up to $2 million in performance bonus, 13 million shares of restricted stock (1/2 vested after 3 years, rest after 5 years), $6 million in "without cause" termination fee

    [So, in one interview, Chen thinks it'll take six quarters to turn BlackBerry around, which implies he'll be there for 1 1/2 years. With this deal, though, he'll need to stay for at least 3 years to get the first batch of shares, which implies he'll be there for at least 3 years.)

    BlackBerry can still be sold, but if it is sold before or within 30 days of the $1 billion investment, then BlackBerry has to pay a $135-$250 million break fee, depending on circumstances. In turn, the investors agree not to own, collectively, more than 19.9% of the company (speculated to prevent "creeping takeover").

    BlackBerry offers bumper package to new CEO - Yahoo Finance
    kevinnugent likes this.
    11-07-13 08:48 PM
  2. Gunner24's Avatar
    They currently own 10 percent, so I wonder if they are planning to up their control to 20?

    Posted from my Q10 on the West Coast
    11-07-13 08:58 PM
  3. cbvinh's Avatar
    They currently own 10 percent, so I wonder if they are planning to up their control to 20?

    Posted from my Q10 on the West Coast
    My speculation: It might be a restriction to prevent the investors from taking another Board seat.
    11-08-13 12:14 AM

Similar Threads

  1. Replies: 97
    Last Post: 08-23-17, 04:42 PM
  2. Thinking of iphone to q10
    By bbz30crack101 in forum BlackBerry Q10
    Replies: 67
    Last Post: 11-30-13, 07:56 AM
  3. Why won't people take advice from a tech guy about BlackBerry?
    By Droideka75 in forum General BlackBerry Discussion
    Replies: 288
    Last Post: 11-19-13, 08:21 AM
  4. List of best mobile websites
    By dale-c in forum BlackBerry 10 OS
    Replies: 3
    Last Post: 11-08-13, 07:16 AM
  5. In The Future
    By Blackberry_Boss in forum BlackBerry 10 OS
    Replies: 1
    Last Post: 11-07-13, 09:44 PM
LINK TO POST COPIED TO CLIPBOARD