Description of Severance Benefits for Mr. Jean-Luc Lemercier – Edwards Lifesciences Corporation
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Summary
This document outlines the severance benefits for Mr. Jean-Luc Lemercier, an executive at Edwards Lifesciences Corporation. If his employment is terminated by the company for reasons other than cause, he will receive cash severance equal to one month of his base salary for each year of service, up to a maximum of two years' salary. He is also entitled to six months' notice or pay in lieu of notice. These benefits do not apply if he receives payments under a change-in-control severance agreement. All payments are subject to standard deductions.
EX-10.1 2 ex-10110xqq12021.htm EX-10.1 Document
Exhibit 10.1
Description of Severance Benefits for Mr. Jean-Luc Lemercier
Mr. Jean-Luc Lemercier, one of the named executive officers of Edwards Lifesciences Corporation (the “Company”), is eligible to receive severance benefits if his employment is terminated by the Company for any reason other than for cause. These benefits will consist of cash severance equal to one month of his monthly base salary for every year of service, capped at two years of his annual base salary. In addition, he will be entitled to six months advance notice of a termination of employment or pay in lieu of notice of an amount equal to six months of his monthly base salary. Mr. Lemercier will not be entitled to receive any such payments if he receives payments under his change-in-control severance agreement. Benefits will be subject to all applicable withholdings and other authorized deductions.
