Motorola chief secures compensation

SCHAUMBURG - Motorola Inc. Co-Chief Executive Gregory Brown will receive a base salary of at least $1.2 million for at least three years, plus millions of dollars more in a stock compensation package, according to a filing Friday with the U.S. Securities Exchange Commission. The company previously set the deal in January as Brown worked to separate the Mobile Devices company from the broadband business, which he also heads. Brown could receive an annual bonus of not less than 220 percent of his base salary and a 2008 special bonus of not less than 130 percent of his base salary, based on performance goals. The co-CEO's long range incentive plan has a target of not less than 350 percent of his base salary for 2008, and not less than 250 percent of his base salary for each following fiscal year, the filing said.