Motorola's Jha to get $66 million golden parachute
NEW YORK (Reuters) - Motorola Mobility Chief Executive Sanjay Jha could get a $65.7 million payout related to the company's deal to sell itself to Google Inc for $12.5 billion.
The so-called golden parachute payment would include $13.2 million in cash and $52.4 million in equity related compensation, according to a filing with the Securities and Exchange Commission.
Google announced a deal to buy Motorola Mobility on August 15 with a view to using Motorola's technology patent portfolio to bolster its Android mobile software.
The company's expect the deal to close by the end of this year or in early 2012.
(Reporting by Sinead Carew)
- Insight: How U.S. spying cost Boeing multibillion-dollar jet contract
- Exclusive: Secret contract tied NSA and security industry pioneer |
- With Fed out of the way, what's next on Wall Street?
- Yemeni al Qaeda says attack on hospital was mistake
- Insight: For Chinese farmers, a rare welcome in Russia's Far East
A federal judge struck down Utah's ban on same-sex marriage as unconstitutional, handing a major victory to gay rights activists in a conservative state Slideshow