2013 Compensation Agreement between Celgene Corporation and Mark Alles
This agreement outlines the 2013 compensation package for Mark Alles, Executive Vice President and Global Head of Hematology/Oncology at Celgene Corporation. It specifies his base salary, bonus target, annual equity awards, long-term incentive plan, severance benefits, and financial planning benefits. The agreement includes conditions such as the effective dates for each component and eligibility for severance and COBRA benefits in the event of involuntary termination not for cause. Both parties have acknowledged and agreed to the terms by signing the document.
Exhibit 10.1
Summary of 2013 Compensation Package
| Name | Mark Alles |
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| Job Title | EVP, Global Head, Hematology/Oncology |
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| Base Salary | $670,000 | Effective March 1, 2013 |
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| Bonus Target | 70% | Effective January 1, 2013 |
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| Annual Equity Award | Stock Options: 47,300 Restricted Stock Units: 5,500 | Effective April 1, 2013 |
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| LTIP Target | 100% of base salary as of plan cycle approval (12/12/12), or $650,000 | 2013-2015 Performance Cycle, commencing January 1, 2013 |
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| Severance Benefit | 12 months of salary continuation COBRA benefit at active employee rates | In the event of involuntary termination for reasons other than cause |
| 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: | |||||||
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| /s/Mark Alles |
| 4/23/13 |
| By: | /s/Robert J. Hugin |
| April 22, 2013 |
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| Mark Alles |
| Date |
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| Robert J. Hugin |
| Date |
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| Chairman and CEO |
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