Document:

WWW.EXFILE.COM, INC. -- 888-775-4789 -- BOSTON SCIENTIFIC CORP. -- EXHIBIT 10.65 TO FORM 10-K

    EXHIBIT
10.65

    

    

    May 16,
2008

    

    

    Mr.
Jeffrey D. Capello

    49
Walpole Street

    Dover,
MA  02030

    

    Dear
Jeff:

    

    On behalf
of Boston Scientific Corporation, we are very pleased to confirm our offer of
employment to you.  Your Boston Scientific title will be Senior Vice
President, Chief Accounting Officer and Corporate Controller.  You
will report to Sam Leno, Executive Vice President and Chief Financial
Officer.  As part of this offer, you will become a member of Boston
Scientific’s Operating Committee.  We look forward to a productive and
successful working relationship and to your formal acceptance of this offer of
employment.

    

    This
letter, the enclosed Employee Agreement and Code of Conduct summarize our
understanding of the terms of your employment and provide you the means to
accept our offer as described.

    

    SIGN-ON
BONUS

    Boston
Scientific will provide you with a “one-time” sign-on bonus of $500,000 (gross
amount), which will be paid at the time of your first paycheck.  You
must be employed by Boston Scientific to receive the sign-on
bonus.  If you should leave Boston Scientific voluntarily prior to the
first anniversary of your start date, you will be required to pay back $250,000
of the sign-on bonus within 30 days of your departure.

    

    COMPENSATION

    Through
annual and long-term programs, Boston Scientific’s compensation programs provide
our employees with significant compensation opportunities on a pay for
performance basis.  The objective of these programs is to recognize
and reward both individual and company performance.

    

    Base Salary:  Base
gross salary for this position will be $18,846.16, currently payable bi-weekly,
equivalent to $490,000.16 on an annualized basis.  Your performance
and compensation will generally be reviewed on an annual basis.  The
Boston Scientific performance year currently runs from January 1 through
December 31 of each year.  If your date of employment is on or before
November 1, you are eligible to participate in the current year’s performance
and compensation review based on your manager’s assessment of your
performance.   If your date of employment is after November 1,
your first performance and compensation review will occur in the following
year.  Based on your anticipated start date of June 16, 2008, you will
be eligible for a full 2009 merit increase in accordance with our compensation
management system and your individual performance.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Performance Incentive
Plan:  The Boston Scientific performance year currently runs
from January 1 through December 31 of each year.  The Performance
Incentive Plan provides employees with the opportunity for a variable financial
incentive in recognition of individual and company performance in a given
year.  You are eligible to participate in the annual Performance
Incentive Plan beginning this year and you will be eligible to receive a
full-year’s bonus amount.  Per the current plan, your annual target
incentive is 65% of base salary.  Your actual award will be based on
your achievement of individual goals and the company’s achievement of corporate
performance goals.  Under the current plan, you must be an active
employee on December 31 of the then current year to be eligible for
payment.  A copy of the 2008 Performance Incentive Plan is enclosed
for your review.

    

    Executive Allowance
Plan:  As a member of the Operating Committee, you will be
eligible to participate in the Boston Scientific Executive Allowance
Plan.  Under this Plan, you will receive $15,000 annually in lieu of
certain other perquisites.  This payment is subject to applicable
withholdings and is typically payable in two equal installments of $7,500 each
in the last pay periods of the months of June and December (but adjusted to your
start date in the first year of employment).  A copy of Boston
Scientific’s Executive Allowance Plan is enclosed for your review.

    

    Equity:  As part of this
offer of employment, we are recommending, subject to approval by the
Compensation Committee of the Board, which we will seek immediately and expect
to obtain prior to your anticipated start date, an equity incentive having
a value of $2,750,000 on the date of grant. At your election, the equity
incentive may be in the form of an option to purchase shares of Boston
Scientific common stock, Deferred Stock Units (“DSUs”), or a combination of
options and DSUs.  The stock option grant and DSU award will be made
pursuant to one of the Boston Scientific Long Term Incentive Plans.  Our
Long Term Incentive Plans are designed to share the rewards of the business with
individuals who most significantly contribute to the achievement of the
company’s strategic and operating goals.  Again, based on your
anticipated start date, you will be eligible for a full 2009 equity incentive
award in accordance with our equity grant guidelines then in effect and your
individual performance.

     

    Non-Qualified Stock
Options:  The option grant will provide you with the opportunity to
purchase shares of Boston Scientific common stock.  The number of stock
options will be calculated and the exercise price per share will be set on the
grant date, using a Black Scholes calculation of the value of the options on
that date.  The option grant will vest in four annual installments of 25%,
50%, 12.5%, and 12.5% beginning on the first anniversary of the date of grant
and will expire on the 10th
anniversary of the grant date.  In all other respects the option grant will
be subject to the provisions of the applicable Long Term Incentive Plan and
Non-Qualified Stock Option Agreement.  In accordance with the applicable
Long Term Incentive Plan, any unvested stock options will accelerate upon your
Retirement, Disability, death or a Change in Control of Boston Scientific (as
those terms are defined in the applicable Long Term Incentive Plan) and remain
exercisable until the expiration of the stated term of the stock
option.

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    DSU Award:  The DSU Award
reflects Boston Scientific’s commitment to grant to you a number of shares of
Boston Scientific common stock (less applicable tax and other withholdings), to
be issued to you in five annual increments of 20%, 50%, 10%, 10% and 10%
beginning on the first anniversary of the date of the grant.  The DSU Award
will be granted on your actual start date and the number of DSUs to be awarded
will be calculated using the Fair Market Value (closing price) of
Boston Scientific common stock on the date of grant.  This Award is
also subject to all provisions of the applicable Long Term Incentive Plan and
Deferred Stock Unit Agreement.  In accordance with the applicable Long Term
Incentive Plan, upon your Retirement, Disability, death or a Change in Control
of Boston Scientific (as those terms are defined in the applicable Long Term
Incentive Plan), we will issue to you or your beneficiary (as the case may be),
any shares of Boston Scientific stock to be awarded to you in accordance with
this letter that remain subject to eligibility conditions.

    

    SPECIAL PAYMENT UPON
TERMINATION OF EMPLOYMENT

     Should
you be involuntarily terminated from employment other than for Cause during the
first two years of your employment, you will receive a special payment
equivalent to the combined annual salary you are then receiving and the
incentive bonus (at target) for which you are then eligible (gross
amounts).  “Cause” is defined for purposes of this paragraph to
mean:  (a) conduct constituting a material act of misconduct in
connection with the performance of your duties; or (b) criminal or civil
conviction, a plea of nolo contendere or conduct that would reasonably be
expected to result in material injury to the reputation of Boston Scientific if
you were retained in your position with Boston Scientific.

    

    PROMOTION TO EXECUTIVE
COMMITTEE

    Assuming
you are successfully performing in your current role and capable of taking on
additional responsibilities, both as determined by Boston Scientific’s Chief
Executive Officer and Chief Financial Officer, we will recommend to Boston
Scientific's Board of Directors that you be promoted in June 2009 to the
Executive Committee (EC).  This promotion to EC level will be based on the
increase in responsibilities of your existing role.  As a member of
the Executive Committee, you will be eligible to participate in the Boston
Scientific Executive Allowance Plan at a $25,000 amount annually.  A
copy of this Plan is enclosed.  You will also be eligible to then
participate in the Executive Retirement Plan, a copy of which is
attached.

    

    BENEFITS

    Enclosed
is descriptive literature regarding Boston Scientific’s current benefit
programs.  You should review this information prior to your start date
so you are prepared to enroll within your first 31 days of
employment.  Please understand that the company reserves the right to
unilaterally amend or terminate any of these programs, or to require or change
employee premium contributions toward any benefits.

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    AUTHORIZATION TO
WORK

    Please
note that this offer of employment is contingent upon your ability to provide,
on your first day of employment, a completed I-9 form and acceptable original
documents that will establish your identity and authorization to work in the
U.S. in compliance with the Immigration Reform and Control Act of 1986, a
federal law.  Please see the enclosed document “Orientation for New
Hires” for a list of acceptable identification documents.  It is Boston Scientific’s practice to
require that these original identification documents be presented on the first
day of employment, so please remember to bring them.

    

    BACKGROUND
VERIFICATION

    A
background verification satisfactory to Boston Scientific has been completed as
of your signature date on this letter.

    

    EMPLOYMENT AT
WILL

    Upon
acceptance of this offer and your active start of employment, you will become an
“at will” employee of Boston Scientific.  This means that you will be
free to resign at any time.  Likewise, Boston Scientific will have the
right to terminate your employment at any time with or without reason or
notice.  Acceptance of this offer acknowledges your understanding and
acceptance of the “at will” nature of your employment.

     

     

    
 

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remainder of this page is left intentionally blank.)

     

     

     

     

     

     

     

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ACCEPTANCE

    This
offer letter is contingent upon the following:

    
      	
              ·  

            	
              Successful
      completion of reference and background checks, as described in this
      letter;

            

    

    
      	
              ·  

            	
              A
      formal acceptance date no later than May 19,
  2008;

            

    

    
      	
              ·  

            	
              A
      start date of June 16, 2008; and

            

    

    
      	
              ·  

            	
              Your
      return of all completed, signed paperwork listed on the enclosed New
      Employee Checklist, including but not limited to the Employee Agreement,
      so that Boston Scientific receives it four (4) business days before your
      start date.

            

    

    

    Please
indicate your acceptance of this offer of employment and agreement with the
terms described in the enclosed documents by completing, signing and returning
all enclosed paperwork.  The Code of Conduct, Benefits Literature and
policy documents should be retained by you for your records.

    

    Jeff, we
believe that the opportunity here with Boston Scientific will be a mutually
rewarding one and we look forward to your acceptance of this offer.

    

    

     

    Sincerely,

     

    

     

    
      	      
              /s/ Sam R.
      Leno                         

              Sam
      R.
      Leno                               

              Executive
      Vice President,

              Chief
      Financial Officer

            	
              /s/ Lucia Luce
      Quinn                             
      

              Lucia Luce Quinn

              Executive Vice President,

              Human Resources

            
	 	 
	 	 
	 	 
	      
              Agreed
      to and Accepted
      by           /s/ Jeffrey D.
      Capello        

                                                                           Jeffrey
      D. Capello

            	Date: May 19,
      2008

    

     

     

    
      

    Enclosures:

    Employee
Agreement

    Benefits
Literature

    Code of
Conduct

    New
Employee Checklist/Forms/Equal Employment Policy Statement

    Policy
Against Harassment

    Orientation
for New Hires

    2008
Performance Incentive Plan

    Executive
Allowance Plan

    Executive
Retirement PlanWWW.EXFILE.COM, INC. -- 888-775-4789 -- BOSTON SCIENTIFIC CORP. -- EXHIBIT 10.66 TO FORM 10-K

    EXHIBIT 10.66

    
 

    

    

    

    

    Boston
Scientific Corporation

     

    2003
Long-Term Incentive Plan

     

    Non-Qualified
Stock Option Agreement

     

    February
24, 2009

     

     

     

     

     

    James
R. Tobin

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    BOSTON
SCIENTIFIC COPY

    PLEASE
RETURN IN THE ENVELOPE PROVIDED

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    This
Agreement is entered into by and between Boston Scientific Corporation (the
"Corporation") and the "Optionee" effective as of the 24th day of February,
2009.  This Agreement is made pursuant to the Boston Scientific
Corporation 2003 Long-Term Incentive Plan (the "Plan"), which is administered by
the Committee.

    

    Capitalized
terms not defined in this Agreement have the same meanings specified in the
Plan.

    
 

    
      
        	
                I.

              	
                Grant
      of Option

              

      

       

    

    The
Corporation hereby grants to the Optionee a Non-Qualified Stock Option (the
"Option") to purchase that number of shares of common stock of the Corporation
set forth on the signature page hereof (the "Option Shares") at the price set
forth on the signature page hereof (the "Exercise Price").

    

    

    
      	
              II.

            	
              Term
      and Vesting of Option

            

    

    

    Except as
otherwise provided in Section IV, the Option shall have a term of ten (10) years
from February 24, 2009 until February 24, 2019 and shall vest in accordance with
the vesting schedule set forth on the signature page hereof.

    

    

    
      	
              III.

            	
              Exercise
      of Option

            

    

    

    While
this Option remains exercisable, the Optionee may exercise a vested portion of
the Option by delivering to the Corporation or its designee in the form and at
the location specified by the Corporation, notice stating the Optionee's intent
to exercise a specified number of shares subject to the Option and payment of
the full Exercise Price for the specified number of shares.  The
payment for the full Exercise Price for the shares exercised must be made in (i)
cash, (ii) by certified check or bank draft payable in U.S. dollars ($US) to the
order of the Corporation, (iii) in whole or in part in Common Stock of the
Corporation owned by the Optionee, valued at Fair Market Value, or (iv) if
available to the Optionee, by "cashless exercise", by the Optionee delivering to
his/her securities broker instructions to sell a sufficient number of shares of
Common Stock to cover the Exercise Price, applicable tax obligations and the
brokerage fees and expenses associated therewith.

    

    Shares of
Common Stock of the Corporation used for payment, in whole or part, of the
Exercise Price must have been owned by the Optionee, free and clear of all liens
or encumbrances for a period of at least six (6) months prior to the exercise
date.  In addition, the Committee may impose such other or different
requirements as it may deem necessary to avoid charges to earnings of the
Corporation.

    

    The
exercise date for the Optionee's exercise of all or a specified portion of the
Option pursuant to this Section III will be deemed to be the date on which the
Corporation receives the irrevocable commitment from the Optionee to exercise
the Option Shares in the form of notice of exercise 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    specified
by the Corporation, subject to Optionee's payment in full of the Option Shares
to be exercised.  Notice of exercise of all portions of the Option
being exercised along with payment in full of the Exercise Price for such
portion must be received by the Corporation or its designee on or prior to the
last day of the Option term, as set forth in Section II above, except as
provided in Section IV below.

    

    Upon the
Corporation's determination that there has been a valid exercise of the Option,
the Corporation shall issue certificates in accordance with the terms of this
Agreement, or cause the Corporation’s transfer agent to make the necessary book
entries, for the shares subject to the exercised portion of the
Option.  However, the Corporation shall not be liable to the Optionee,
the Optionee's personal representative, or the Optionee's
successor(s)-in-interest for damages relating to any delays in issuing the
certificates or in making book entries, any loss of the certificates, or any
mistakes or errors in the issuance of the certificates or in making book
entries, or in the certificates themselves.

    
       

       

      
        	
                IV.

              	
                Termination
      of Employment

              

      

       

    

    Upon the
Optionee's termination of employment for reasons of death or Disability, and
upon the Optionee’s termination of employment due to Retirement provided that
such Retirement shall occur after December 31, 2010, all remaining unexercised
portion(s) of the Option shall immediately vest and become exercisable by the
Optionee or the Optionee's appointed representative, as the case may be, until
the expiration of term of the Option, or such other term as the Committee may
determine at or after grant, provided that such exercise period does not extend
beyond the original term of the Option and no portion of the Option shall become
vested earlier than six (6) months from the date of
grant.  “Disability” shall mean permanent and total disability as
determined under the Corporation’s long-term disability program for employees
then in effect, provided that such disability also meets the requirements of
Section 409A(a)(2)(C).

    

    Upon
termination of the Optionee's employment for reasons other than for Cause or
those set forth above, the Optionee shall have the shorter of (i) twelve (12)
months from the date of termination or (ii) the remaining term of the Option, to
exercise all vested, unexercised portion(s) of the Option.  Upon
termination of the Optionee's employment for reasons other than for Cause, all
non-vested unexercised portions of the Option shall lapse; provided that the
Committee, in its sole discretion, may extend the exercise period and/or
accelerate vesting of unvested portions of the Option provided that such
exercise period does not extend beyond the original term of the Option and no
portion of the Option shall become vested earlier than six (6) months from the
date of grant.

    

    The
Option, to the extent unexercised on the date following the end of any period
described above or the Option term set forth above in Section II, shall
thereupon lapse and be forfeited.

    

    At the
time the Optionee is informed of termination of the Optionee's employment for
Cause, all unexercised portions of the Option shall immediately lapse and be
forfeited.

    

    Any
permitted transferee (pursuant to Section VIII below) of the Optionee shall
receive the rights herein granted subject to the terms and conditions of this
Agreement.  No transfer of this Option 

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    shall be
approved and effected by the Corporation unless (i) the Corporation shall have
been timely furnished with written notice of such transfer and any copies of
such notice as the Committee may deem, in its sole discretion, necessary to
establish the validity of the transfer; (ii) the transferee or transferees shall
have agreed in writing to be bound by the terms and conditions of this
Agreement; and (iii) such transfer complies with applicable laws and
regulations.

    

    

    
      	
              V. 

            	
              No
      Rights to Continued Employment

            

    

    

    The
Option grant made under the Plan and this Agreement shall not confer on the
Optionee any right to continue serving as an employee of the Corporation and
this Agreement shall not be construed in any way to limit the Corporation's
right to terminate or change the terms of the Optionee's
employment.

    

    

    
      	
              VI. 

            	
              Change
      in Control

            

    

    

    All
unvested portions of the Option shall vest in the event of a Change in Control
(as defined in the Plan), immediately prior to the effective date of the Change
in Control and in the case of a Covered Transaction (as defined in the Plan), at
least ten (10) days prior to the effective date of a Covered
Transaction.  This Option shall terminate immediately prior to the
Covered Transaction unless the Committee provides, at its discretion, for the
substitution or assumption of the Option, by conversion into an option to
acquire securities of equivalent kind and value of the surviving entity as of
the effective date of the Covered Transaction.

    

    

    
      	
              VII. 

            	
              Legend
      on Certificate

            

    

    

    The
certificates representing the shares received by the Optionee pursuant to the
exercise of the Option may be stamped or otherwise imprinted with a legend in
such form as the Corporation or its counsel may require with respect to any
applicable restrictions on sale or transfer and the stock transfer records of
the Corporation may reflect stop-transfer instructions with respect to such
shares.

    

    

    
      
        	
                VIII.

              	
                Transferability

              

      

    

    

    Except as
required by law, the Option granted under this Agreement is not transferable and
shall not be sold, transferred, assigned, pledged, gifted, hypothecated or
otherwise disposed of by the Optionee other than by will or the laws of descent
and distribution or without payment of consideration to Family Members of the
Optionee or to trusts or other entities for the benefit of immediate family
members of the Optionee.  During the Optionee's lifetime, the Option
is exercisable only by the Optionee, except as provided in Section IV
above.

    

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              IX.

            	
              Satisfaction
      of Tax Obligations

            

    

    

    The
Optionee agrees to make appropriate arrangements with the Corporation for
satisfaction of any applicable federal, state or local income tax, withholding
requirements or like requirements, including the payment to the Corporation at
the time of exercise of the Option of all such taxes and
requirements.

    

    

    
      	
              X. 

            	
              Securities
      Laws

            

    

    

    Upon the
acquisition of any shares pursuant to the exercise of the Option, Optionee will
make or enter into such written representations, warranties and agreements as
the Corporation may reasonably request in order to comply with applicable
securities laws, or with the Plan.

    

    

    
      	
              XI. 

            	
              Legal
      Notices

            

    

    

    Any legal
notice necessary under this Agreement shall be addressed to the Corporation in
care of its Secretary at the principal executive office of the Corporation and
to the Optionee at the address appearing in the personnel records of the
Corporation for such Optionee or to either party at such other address as either
party may designate in writing to the other.  Any such notice shall be
deemed effective upon receipt thereof by the addressee.

    

    

    
      	
              XII. 

            	
              Choice
      of Law

            

    

    

    The
interpretation, performance and enforcement of this Agreement shall be governed
by the laws of The Commonwealth of Massachusetts (without regard to the
conflicts of laws principles) and applicable federal laws.

    

    

    
      	
              XIII. 

            	
              Conflicts

            

    

    

    The
Option granted by this Agreement is subject to the Plan.  The terms
and provisions of the Plan as it may be amended from time to time are hereby
incorporated herein by reference.  This Agreement contains terms and
provisions established by the Committee specifically for the grant described
herein.  In all other instances, in the event of a conflict, the terms
of the Plan shall govern. The Committee retains the right to alter or modify the
Option granted under this Agreement as the Committee may determine as in the
best interests of the Company.

    

     

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              XIV. 

            	
              Headings

            

    

    

    The
headings contained in this Agreement are for convenience only and shall not
affect the meaning or interpretation of this Agreement.

    

    

    
      	
              XV. 

            	
              Counterparts

            

    

    

    This
Agreement may be executed in any number of counterparts, each of which shall be
deemed to be an original and all of which together shall be deemed to be one and
the same instrument.

    

    

    

    

    

    

    

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of page left intentionally blank]

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
WITNESS WHEREOF, the Corporation, by its duly authorized officer, and the
Optionee have executed and delivered to the Agreement effective as of the date
and year first above written.

    

    Option
Shares:   2,000,000

    

    Exercise
Price:    $8.30 per share

    

    Vesting
Schedule:

    

    
      	
              Percent
      of Option

            	 	

              No. of shares

            	 	

              Date Vested

            	 
	 
      	
              25%

            	 	
              500,000

            	 	
              February
      24, 2010

            	 
      
	 
      	
              25%

            	 	
              500,000

            	 	
              February
      24, 2011

            	 
      
	 
      	
              25%

            	 	
              500,000

            	 	
              February
      24, 2012

            	 
      
	 
      	
              25%

            	 	
              500,000

            	 	
              February
      24, 2013

            	 
      

    

    

     

     

     

    
 

    OPTIONEE:

     

    

    

    Signature:  ________________________________

                           James
R. Tobin

    

    

    

    

    

    BOSTON SCIENTIFIC
CORPORATION

    

    

    Pete M. Nicholas

    Chairman of the
Board

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