"Vertex CEO to get generous payout
Vertex Pharmaceuticals Inc. chief executive Joshua Boger will receive a generous payout when he steps down in May. In a Securities and Exchange Commission filing, the Cambridge biotech company said it agreed to give Boger $2.85 million cash in November and accelerate the vesting of his outstanding stock options and restricted stock awards, which could be worth millions more.
How? The market is supposedly shit.
That just for common folk and pensions, huh?
Under Boger's original employment agreement, he was not entitled to any severance if he stepped down. But Vertex negotiated a new "transition agreement" with him on Feb. 5.
"It's an acknowledgement of [Boger's] service and advice going forward," said Vertex spokeswoman Jane Kramer. Boger plans to remain on Vertex's board after he retires....
The company also detailed its contract with incoming chief executive, Matthew Emmens.
Emmens will receive a starting salary of $1.1 million and an annual cash bonus targeted to be about 115 percent of his salary. He also received a restricted stock grant of 134,129 shares (worth more than $4 million) and options to buy 549,000 shares of common stock that vest over four years. Kramer said Emmens's pay is based on a survey of CEO compensation at nine similar drug companies.
Yeah, because EVERY OTHER PIGGISH "health care" EXECUTIVE is GORGING at the TROUGH, it's okay!!!
But HEALTH SERVICES need to be CUT and you CAN'T HAVE UNIVERSAL HEALTH CARE, Amurka!!!
Hell, THEY EVEN CUTTIN' JOBS!!!!!!!!!!
"Layoffs on way at Charles River, Forrester, Sensata" by Todd Wallack, Globe Staff | February 11, 2009
Three local companies cut jobs yesterday in response to the slumping economy.
Charles River Laboratories Inc., the Wilmington company that breeds mice and rats for researchers, said it will cut 3 percent of its workforce, about 300 employees worldwide, including 50 in Massachusetts. Forrester Research Inc. of Cambridge and Sensata Technologies Inc. of Attleboro also disclosed worker reductions.
Oh, GOOD!! Maybe SOME ANIMALS stand a chance of SURVIVING without being ABUSED by OUR POISONS!! You wanna develop the crap?
Try it out on yourselves!!! Bunch of MAD DOCTORS!! EVIL ($$$$$) dressed in PHYSICIANS GARB!
Charles River said the bulk of the cuts will occur in its preclinical testing services business, in which it uses animals to test experimental drugs for pharmaceutical companies. Specifically, Charles River plans to shut its Arkansas facility by year-end and scale back employment at other facilities, including one in Shrewsbury.
GOOD!!! Some INNOCENT ANIMALS won't be POISONED TO DEATH!!!!
Charles River said it is also taking other steps to cut expenses, including imposing a salary freeze for many of its workers....
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