Nice work if you can get it…

January 13, 2004

In PalmSource’s (PSRC) registration statement to offer 2.75 million shares filed earlier today, the company notes that it has entered into a consulting contract with one of its directors, Satjiv Chahil. Under the contract, which was entered into on August 1, Chahil will receive $11,200 per month in exchange for four days of work. His job is to develop PalmSource’s business in India, among other things. Coincendentally, he also has an identical consulting contract — 4 days of work for $11,200 to develop business in India — with PalmOne (PLMO) the company that spun off PalmSource, which he also served as chief marketing officer for. Now it’s not clear from the filings whether his contract requires him to work exclusively for one company at a time. But if he can talk both up at the same meeting, that works out to $5,600 a day.

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