September 14, 2011 / 9:15 PM / 8 years ago

Motorola's Jha to get $66 million golden parachute

Motorola CEO of Mobile Devices and Home Business Sanjay Jha speaks at a launch of the Droid X smart phone, which will be available through Verizon Wireless, in New York June 23, 2010. REUTERS/Eric Thayer

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

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