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Depomed business development chief to retire at end of month with golden parachute

Published 07/13/2017, 07:15 AM
© Reuters.  Depomed business development chief to retire at end of month with golden parachute
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  • Depomed (NASDAQ:DEPO) SVP, Business Development Thadd Vargas will retire and resign from the company on July 31. To ease his transition into retirement, he will receive a lump sum payment equal to his annual base salary, a lump sum cash payment equal to a pro-rata portion of his annual bonus that he would have earned based on the company's performance for the year and company-paid health insurance for 12 months. Also, the 22K restricted stock units that he owns will vest on December 1. And finally, he will receive a consulting fee for certain business development services through the end of the year.
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