/// RIM to Former Co-CEOs: Here’s $12 Million For a Job Well Done — Until About 4 Years Ago
When Research In Motion’s long time co-chairmen and co-chief executives Mike Lazaridis and Jim Balsillie relinquished their management roles earlier this year , their incentive to do so was more than just an angry mob of shareholders and critics calling for their ouster. It was money. Nearly $12 million in combined payouts for agreeing to step aside. According to RIM’s latest 6-K filing with the U.S. Securities and Exchange Commission , Balsillie was given a payout of $7.93 million for the current fiscal year, which includes salary, bonus and a severance package valued at about $4.8 million. Lazaridis received $3.96 million in salary and awards, as well as a 10-year extension on health coverage for himself and his family and a company car and driver. Not Fiorinian golden parachutes by any means, but not too bad for walking away from the train wreck for which the pair is largely responsible
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