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Jul 28 2008   11:16PM GMT

Juniper gets KJ at a hefty price

rivkalittle Rivka Little Profile: rivkalittle

Juniper Networks may have a cozy relationship with newly hired CEO Kevin Johnson, but it didn’t come cheap. Juniper agreed to pay Johnson $5 million for signing on, Jason Davis reported in his The San Jose Mercury News blog Docu-Drama.

Johnson will get $1.5 million for his first year, another $1.5 million for his second and a final $2 million for his third, according to an SEC filing. And then there’s Johnson’s salary. He’ll earn $800,000 annually with a target bonus of 150% of that. He’ll also get 1.4 million shares priced at the close on the date they are granted.

Blogger Davis is sure to point out that mid-housing crisis, Juniper also agreed to help Johnson sell his old house and buy a new one in California.

Johnson is set to begin work September 8.

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