Hot off the presses from the Securities and Exchange Commission: Motorola Mobility CEO Sanjay Jha just got an amended employment agreement, effective yesterday, March 15.While his original employment agreement entitled him to reimbursement for moving to Illinois (where Motorola is based) from California (where he was an executive at Qualcomm), he now has a different deal.
Specifically, Jha now gets a monthly housing allowance of $7,400 — about $89,000 per year — “in recognition of the Company’s facilities in multiple locations.”
We’re not privy to Jha’s housing situation, but it sounds like he needs to spend time at multiple company locations — perhaps at Motorola Mobility HQ in Libertyville, Ill., and at its outpost in Sunnyvale, Calif. — and therefore needs to rent two places.
Sounds good to us. (And, really, $7,400 a month isn’t that much — totally worth it if he can turn Motorola around.)
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