12 Jun 09 Jon Rubinstein’s new salary? $850,000 per year

Just yesterday we notified you that Jon Rubinstein would be taking over Ed Colligan’s as Palm’s CEO and now news regarding the financial backings of it all are leaking out.

Apparantly, Jon Rubinstein’s new salary, before taxes, is set at $850,000. And, to add to that, he has a 100% chance of an annual bonus eligibility and “stock option grant of 430,000 shares vested monthly over the next 4 years”. While this may make some green with envy we have to give it to the man because without Mr. Rubinstein the Palm Pre probably wouldn’t have ever made it to market.

But what about ol’ CEO Ed Colligan? Well, he’ll recieve a cool $1.2 million to take a seat and let Rubinstein take over.

Read (Engadget)

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Tags: CEO, ed colligan, financial, jon rubinstein, Palm, salary