Robert T. Davis, Jr. Promotion Compensation Agreement Summary
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Summary
This agreement outlines the compensation terms for Robert T. Davis, Jr. following his promotion to Corporate Vice President and President, Orthopedics and Tissue Technologies, effective December 1, 2016. Mr. Davis will report to the company's President and CEO. His new base salary is $430,000, with a bonus set at 60% of his base salary for the 2017 performance year. Additionally, he will receive a one-time equity award of $250,000 in stock options, vesting after three years.
EX-10.2 3 exhibit_10x2xdecemberx5x20.htm EXHIBIT 10.2 Exhibit
EXHIBIT 10.2
Robert T. Davis, Jr. Promotion Summary
The Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of the Company approved incentives in connection with Mr. Davis’s promotion, detailed in a summary below, which became effective December 1, 2016.
Summary
Title and Reporting Relationship: Corporate Vice President and President, Orthopedics and Tissue Technologies, effective December 1, 2016. Report to Peter Arduini, President and Chief Executive Officer.
Base Salary: $430,000
Bonus: 60% of base salary, effective January 1, 2017 for the performance year 2017
One-time Equity Award: $250,000 as soon as administratively possible following the effective date of new position. This award will be granted as stock options, vesting on the third anniversary of the grant date.
