As rumors fly that Palm will soon be sold, its software and services leader, Michael Abbott had decided to leave the company this week. However, added that the filing is the Palm implementation of a retention program for certain key employees, including senior executives. Of course, this is a step to stop people from ‘a Abbott’ and kill any value does the outfit perhaps.
According to our sources, the program includes equity awards and cash bonuses to earn overa period of two years, provided that the individuals remain as employees of the company. Palm Senior Vice President of Global Operations, Jeffrey Devine, and Douglas Jeffries, Palm’s chief financial officer, each received a cash bonus of $ 250,000.