Attached files
Exhibit 10.19
Summary of Compensation Package
Name | S.J. Rupert Vessey | ||||||
Job Title | President, Research & Early Development | ||||||
Base Salary | $675,000 | Effective January 8, 2016 | |||||
Bonus Target | 70% | Effective January 8, 2016 | |||||
Annual Equity Award | Stock Options | Restricted Stock Units | Effective February 9, 2016 | ||||
51,624 | 6,731 | ||||||
Performance Equity | Stock Options | Restricted Stock Units | Effective October 18, 2016 | ||||
18,304 | 5,369 | ||||||
Cash Long-Term Incentive Plan | Threshold | Target | Maximum | Effective December 15, 2015 | |||
$287,500 | $575,000 | $1,150,000 | |||||
Severance Benefit | Lump sum 12 months of base salary Lump sum 12 months of bonus at target 12 months COBRA benefit at active employee rates, less applicable taxes | In the event of involuntary termination for reasons other than cause | |||||
"Double Trigger" due to Change in Control | All severance benefits Unvested RSUs and Options would fully vest Change in control payments would be reduced to avoid 280G excise tax, if beneficial to employee | In the event of position elimination due to change in control | |||||
Financial Planning Benefit | Up to $15,000 per year | Reimbursement of reasonable and customary fees associated with financial planning and/or tax preparation/advice | |||||
Acknowledged and agreed: | On behalf of Celgene Corporation: | ||||||
/s/ Rupert Vessey | February 6, 2017 | /s/ Mark J. Alles | February 1, 2017 | ||||
S.J. Rupert Vessey | Date | Mark J. Alles | Date | ||||