BlackBerry could pay $250 million break fee in event of better offer: filing

BlackBerry Ltd will pay up to $250 million to a group of debtors including Prem Watsa's Fairfax Financial Holdings if another deal succeeds, according to a regulatory filing on Thursday detailing the debt deal. The filing also showed that incoming interim chief executive and executive chairman John Chen will receive a base salary of $1 million and a bonus of up to $2 million. BlackBerry on Monday abandoned plans to sell itself and instead opted to raise $1 billion by selling convertible notes to a group of investors. Chen is the second straight chief executive at Canada's most prominent technology company to receive a lucrative pay package for what could be a short stint of work.

via Tech News Headlines - Yahoo! News http://news.yahoo.com/blackberry-could-pay-250-million-break-fee-event-222338613--sector.html