Pay plummets for Motorola co-CEOs

15.03.2010
Motorola co-CEOs Sanjay Jha and Greg Brown saw their compensation packages plummet in 2009, according to documents filed with the U.S. Securities and Exchange Commission.

Jha, who heads Motorola's mobile devices and home business, was awarded a compensation package valued at $3.8 million in 2009. His total compensation is a fraction of what he was awarded in 2008, when his pay package was valued at $104.4 million due to an enormous sign-on bonus.

In 2009, Jha received a $905,769 salary, which is down 25% on an annual basis from what he earned in 2008. Jha also received a $1.2 million cash bonus (guaranteed by his employment agreement) and $1,750 as part of Motorola's patent award program.

The biggest hit to his compensation came from the value of performance stock units. The estimated value of stock and option awards granted to Jha during fiscal 2009 was $1.3 million, down from $103.3 million in 2008, the year he joined Motorola.

Jha's other compensation and totaled $323,366, which includes $208,579 for personal use of company aircraft, $66,769 in relocation benefits, and $34,906 for personal use of car and driver and costs for security system monitoring.