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BlackBerry CEO in line for $55 million payday if company is sold

BlackBerry CEO Heins Severance Package

BlackBerry CEO Thorsten Heins has more than 55 million reasons to sell the company. Bloomberg reports that Heins will receive a pay package worth $55.6 million if he sells the company and if he’s subsequently ousted as CEO. Heins’ severance package includes a $22 million salary along with “incentive payments and equity awards, based on the March 28th share price,” Bloomberg writes. BlackBerry is considering selling off the company as one of many different strategic alternatives to its current plans, although the company so far has had difficulty attracting buyers even though it has several valuable assets including a patent portfolio valued at up to $5 billion.

Prior to joining BGR as News Editor, Brad Reed spent five years covering the wireless industry for Network World. His first smartphone was a BlackBerry but he has since become a loyal Android user.