New BlackBerry CEO Scores $88M Compensation Package

Struggling BlackBerry is sparing no expense for new CEO John Chen, bestowing upon him a compensation package currently worth $88 million.

Chen, who joined the company last week, will receive a salary of $1 million plus a performance bonus of $2 million. The bulk of Chen's compensation will come in the form of 13 million BlackBerry shares. At Monday's price of $6.50 a share, that's worth $84.5 million. Chen will receive 25% of that on his third anniversary at the company and get another 25% on his fourth. At five years, Chen will get the remaining 50%.