Novell CTO gets lucrative pay package

Jeffrey Jaffe,
CTO, Novell

Jeffrey Jaffe, named Novell chief technology officer in November, stands to make at least $1.65 million in cash during his first year working at the server software company, Novell disclosed in a regulatory filing Friday. Jaffe will be paid a salary of $450,000; a minimum bonus of $225,000 that could be as high as $450,000; a $300,000 signing bonus, $600,000 if he stays for a full year; and $75,000 relocation expenses to move to Waltham, Mass., where Novell is headquartered.

In addition, Jaffe got 300,000 stock options with a $7.93 exercise price--200,000 of which are dependent on meeting certain performance goals--and the right to purchase 100,000 restricted shares at 10 cents apiece. And under his severance agreement, Jaffe will get 1.5 times his salary; a prorated bonus; accelerated vesting of stock options and restricted stock; and financial help of up to a fifth his salary to get a new job.

he must have drank the red cool-aid!!

lol... granrats..

my watch makers have been upgraded now....

I didnt do it... I am not a terrorist.. I am not a hacker... I am not a pedofile...