Several executives from the Research in Motion as well as two other executives would pay more than $74.5 million to settle down stock options backdating case under a specific agreement that was approved on Thursday by the securities commission in Canada. The finance director, chief financial officer and the co-chief executives have agreed to collect the sum of $31 million to RIM for all the benefit that they received from the falsely paid stock options that were granted to all the employees from the year 1996 to 2006. In addition, they have also agreed to pay the costs that were incurred to the company in the investigation as well as to the Ontario securities commission as a part of the administrative penalty.

RIM also confirmed in the recent statement that the company as well as the executives have made several settlement offers to the US Securities and Exchange Commission to resolve the agency’s investigation that makes the Blackberry devices. However, these offers were made in subject to the SEC approval. In case if these settlements are approved, then RIM firmly believes that it would not have an adverse effect on the business of the company. The employees of RIM made roughly $53.6 million as a result of the false options dating practices, however, only a half of that has been repaid. There was an announcement made on Wednesday that the settlement has been reached.

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