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Bloomberg: Termeer Payout Could Top $221M

The $20B sale of Genzyme reaps a tidy sum for its CEO
The $20B sale of Genzyme reaps a tidy sum for its CEO

Termeer, 65, will get $145.9 million in cash from his shares, stock options and restricted stock units, the filing with the U.S. Securities and Exchange Commission today said. He will also receive a $12.5 million change-of-control payment if his employment is terminated when the deal closes. Termeer said Feb. 16 when the companies announced the $20.1 billion agreement that he planned to leave after a transition period.

The CEO, who held that position at Genzyme since 1985, also stands to gain as much as an additional $62.8 million in so- called contingent value rights tied to Genzyme’s experimental multiple sclerosis drug, Lemtrada.

This program aired on March 8, 2011. The audio for this program is not available.

Rachel Zimmerman Twitter Health Reporter
Rachel Zimmerman previously reported on health and the intersection of health and business for Bostonomix.

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