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The court did not go nearly as far for Reye's co-defendant, Stephanie Jensen, Brocade's Vice-President of the Human Resources Department.
She was found to have worked to conceal the backdating and was sentenced to four months.
We put our money on the table and we stand behind it," Mr. The company said its executives will also repay all the benefit they received from options that were incorrectly priced. Balsillie said his own obligation will be "far, far less" than the -million he has volunteered to pay to cover the investigation costs.
A federal appeals court has thrown out the stock option backdating conviction of Gregory Reyes, the former CEO of Silicon Valley network equipment manufacturer Brocade.
He was the first person to be criminally prosecuted in the Silicon Valley stock option fraud scandal.
Former Comverse Chief Financial Officer David Kreinberg was sentenced by Judge Nicholas G. In October 2006, he became the first of three Comverse executives facing criminal backdating charges to plead guilty.
Last month, a federal judge in Santa Ana, Calif., dismissed with prejudice federal criminal fraud charges against several Broadcom Corp.
The investigations cost companies hundreds of thousands of dollars to defend, and resulted in the firing of several high-level executives.