One of the biggest mobile device manufacturing company, Palm Inc. is now known to be providing it executive staff with direct cash incentives, in what seems to be the company’s effort to keep its administrative senior officials on board. Two of the top Palm executives, Global Operations Senior VP Jeff Devine and CFO Doug Jeffries along with other high level officials are now being paid a cash bonus of $250,000 on top of the stock options given to them. This new incentive program, under the watchful eye of the new Palm Inc. CEO, Jon Rubinstein is being viewed as an effort to keep the senior administrative staff on board and functional, as part of the company’s ‘retention program’.

This all new incentive program for the senior administration of Palm Inc. could be an attempt by the company to retain its time tested team of veterans, even as Palm faces a proposed sale of the company itself, amid rising losses. However, the retention plan could also be an effort to keep this high valued employees on Palm’s payroll and keep them on board even after the company is taken over prospective bidders such as HTC, Lenovo etc.

As per recent reports, almost all the of the executive staff of Palm has now been offered more stock options, which indicate to the fact that, Palm Inc. could have found an interested buyer and wants its senior management staff to stay in place after the transaction is completed.

Via Electronista