Document:

exv10w33

 

Exhibit 10.33

M E M O R A N D U M

         To: File

    From: Susan Alexander

    Date: July 23, 2007

Subject: Director Fees and Expenses

The following is a summary of the retainers and meeting fees payable to
directors from the 2007 Annual Meeting of Stockholders until the 2008 Annual
Meeting of Stockholders.

Retainers and Fees

     Annual Retainers

	 	 	 
	$25,000

	 	Board retainer
	$20,000

	 	additional annual retainer for chair of Finance and Audit Committee
	$ 5,000

	 	additional annual retainer for members of Finance and Audit
Committee
	$10,000

	 	additional annual retainer for chairs of Corporate
Governance Committee, Compensation and Management Development Committee and Transaction Committee
	$60,000

	 	additional annual retainer for Chairman of the Board

Annual retainers will be paid in four equal quarterly installments.

     Meeting Fees

	 	 	 
	$2,500

	 	each Board meeting attended (in person)
	$1,250

	 	each Board meeting attended (by teleconference)
	$1,000

	 	each committee meeting attended (in person or by teleconference)

Meeting fees will be paid for attendance at formal meetings of the Board or
its committees, i.e., those for which meeting minutes are prepared. Meeting
fees will not be paid for informal gatherings of directors.

     Special Service Fee (extraordinary)

	 	 	 
	$1,000

	 	each full day of service

Biogen
Idec 14 Cambridge Center Cambridge, MA 02142 Phone 617-679-2000 www.biogenidec.com

 

 

The special service fee is for a full day of service, excluding services
(and travel) relating to Board or committee meetings, at the request of the
Board or the Company and which involves extensive travel by a director. It
is expected that situations for which a special service fee is due will be
infrequent.

Retainers and fees will be paid shortly following the end of each calendar
quarter (or, with respect to the fourth calendar quarter, by the end of the
year). Each payment will be accompanied by a schedule explaining how the
payment was calculated. Retainers are calculated on the basis of the
position held at the beginning of the calendar quarter for which payment is
to be made.

Payments of retainers and fees will be reported to the IRS on Form 1099 as
income, unless the payments are made to qualifying deferred compensation
accounts previously established by directors.

Expenses

The Company will reimburse directors for all reasonable out-of-pocket
expenses associated with their duties as directors, including travel to and
from Board and committee meetings. The expenses of spouses and significant
others will be reimbursed when directors’ spouses and significant others are
invited to attend Company events with directors.

Expenses will be reimbursed when submitted. Expense reports, including
receipts or other supporting documentation, should be sent to the Company’s
accounts payable department (attn. Drew Gollerkeri). If you would like to
fax the expense report to expedite the approval process, please fax it to
Bob Licht at 866-819-5288.

Reimbursement for directors expenses usually will not be reported to
the IRS as income. Reimbursement for travel expenses of others will be
reported to the IRS as income, and reimbursement for certain other expenses
(for example a program that does not meet IRS guidelines) may also be
reportable as income.

Questions

Questions about retainers, fees and expenses may be addressed to the
following individuals:

Bob Licht (retainers and fees, including special service fee)

Vice President, Chief Corporation Counsel

Biogen Idec Inc.

14 Cambridge Center

Cambridge, MA 02142

 

 

Tel. (617) 679-3662

E-mail: bob.licht@biogenidec.com

Drew Gollerkeri (expenses)

Associate Director, Accounts Payable

Biogen Idec Inc.

14 Cambridge Center

Cambridge, MA 02142

Tel. (617) 679-3818

E-mail: drew.gollerkeri@biogenidec.comexv10w45

 

Exhibit 10.45

BIOGEN IDEC INC.

2006 NON-EMPLOYEE DIRECTORS EQUITY PLAN

First Amendment

     Pursuant to Section 17 of the Biogen Idec Inc. 2006 Non-Employee Directors Equity Plan (the
“Plan”), the following clarifying amendments are hereby made to Section 7(d) of the Plan,
effective as of the Plan’s Effective Date:

     1. Section 7(d)(i) is amended to read in its entirety as follows: “In the event that the
Participant’s Board service shall terminate on account of the Retirement of the Participant,each
Option granted to such Participant that is outstanding as of the date of such termination shall
become fully exercisable and shall remain exercisable by the Participant (or, in the event of the
Participant’s death while such Option is still outstanding, by the Participant’s legal
representatives, heirs or legatees) for the three year period following such termination (or for
such other period as may be provided by the Committee), but in no event following the
expiration of its term.”

     2. Section 7(d)(iii) is amended to read in its entirety as follows: “In the event that the
Participant’s Board service shall terminate on account of the Disability of the Participant,each
Option granted to such Participant that is outstanding as of the date of such termination shall
become fully exercisable and shall remain exercisable by the Participant (or such Participant’s
legal representatives or, in the event of the Participant’s death while such Option is still
outstanding, such Participant’s legal representatives, heirs or legatees) for the one year period
following such termination (or for such other period as may be provided by the Committee), but
in no event following the expiration of its term.”

     3. Section 7(d)(vi) is amended to read in its entirety as follows: “In the event of the
Participant’s death within six months following the Participant’s termination of Board service for
any reason other than (A) Retirement, (B) death, (C) Disability or (D) For Cause, each Option
granted to such Participant that is vested and outstanding as of the date of death shall remain
exercisable by such Participant’s legal representatives, heirs
or legatees for the one year period
following the date of death (or for such other period as may be provided by the Committee), but
in no event following the expiration of its term.”

     In
Witness Whereof, Biogen Idec Inc. has caused this instrument of amendment to be
executed by its duly authorized officer this 11th day of October 2006.

	 	 	 	 	 
	 	Biogen
Idec Inc. 

 	 
	 	By:  	/s/ Craig E. Schneier
 	 
	 	 	Craig E. Schneier, Ph.D. 	 
	 	 	Executive Vice President, Human Resourcesexv10w49

 

EXHIBIT 10.49

			
	 	 	 
	Paul J. Clancy
	 	August 17, 2007

Dear Paul:

I am pleased to confirm your promotion to Executive Vice President and Chief Financial Officer.
This position will report to James C. Mullen, Chief Executive Officer, and will be based at our
Cambridge, MA facility.

The specific terms of your promotion are as follows.

Promotion Date: The effective date of your promotion is August 13, 2007.

Base Salary: Effective with the date of promotion, your biweekly salary will be $17,307.70, which
is equivalent to an annual salary of $450,000.20.

Short-term-incentive: Your target bonus level under Biogen Idec’s Annual Bonus Plan will be 50% of
your annualized base salary.

Long-term Incentive: You will be granted 8,000 restricted stock units (RSUs). Assuming your
continued employment, the RSUs will vest and convert into shares of Biogen Idec common stock at the
rate of one-third per year for three years, starting on the first anniversary of your grant date.
The grant date will be the first trading day of the month following your effective date of
promotion.

You will also be granted an option to purchase 20,000 shares of the common stock of Biogen Idec at
an exercise price equal to the closing price of Biogen Idec stock as reported on the NASDAQ
National Market on the grant date. The grant date will be the first trading day of the month
following your effective date of promotion. The option will have a ten-year term and, assuming
your continued employment, will vest equally over a four-year period at the rate of 25% per year,
starting on the first anniversary of your grant date.

The actual terms of your RSU and stock option grants will be communicated to you in a separate
Notice of Grant. You are considered a “designated employee”, as defined in the 2005 Omnibus Equity
Plan. Please read the 2005 Omnibus Equity Plan Document for information on the implications of
being a designated employee under the Plan, as well as any applicable terms and conditions of your
grants under this program. The 2005 Omnibus Equity Plan Document can be found on iNet.

Stock Trading Plan: As an Executive Vice President of the Company, you are required to enter into
a 10b5-1 stock trading plan. A 10b5-1 plan enables you to buy and sell Biogen Idec securities
under pre-specified conditions (e.g., when the price of Biogen Idec stock reaches a certain price),
and allows you to sell outside of quarterly “trading windows” whether or not you are in possession
of material, nonpublic information. More information on 10b5-1 trading plans can be found on iNet.

Additional Executive Benefits

Vacation: Based on your current years of service, you are entitled to 25 vacation days per
year, accrued on a per pay period basis.

Supplemental Savings Plan: You are entitled to participate in Biogen Idec’s Supplemental
Savings Plan (SSP). This plan allows you to make pre-tax deferrals of up to 80% of your base
salary and up

Biogen
Idec 14 Cambridge Center Cambridge, MA 02142 Phone 617-679-2000 www.biogenidec.com

 

 

Page 2 of 4

to 100% of your Annual Bonus payment. Your contributions to this plan may be
limited by your contributions towards other plans (e.g., 401k, ESPP, medical, etc.).

Life Insurance: You will be provided life insurance coverage equal to three times your annual
base salary, subject to meeting the medical standards stated in the group term life insurance
policy for U.S. employees. Biogen Idec pays the premium for this insurance. The IRS requires
employers to impute the value of company-paid life insurance for coverage over $50,000. This
imputed income will be displayed on your pay stub.

Severance: In the event Biogen Idec terminates your employment other than For Cause (as defined
in the executive severance document attached to this letter), you will receive a severance
benefit of at least nine months of your annual cash compensation and coverage under Biogen
Idec’s group medical and dental insurance plans. Your severance benefits are explained in
greater detail in the attached executive severance document.

IRC 280G Excise Taxes: In the event of a Change in Control (as defined in Section 280g of the
Internal Revenue Code), compensation paid to you may trigger an excise tax (in addition to
ordinary income taxes). Biogen Idec will reimburse you for any excise taxes you incur as a
result of a Change in Control. This includes gains from the exercise of stock options and
vesting of restricted stock and/or units, as well as the reimbursement for such penalties. In
addition, Biogen Idec will reimburse you for income taxes imposed on the excise taxes.

Tax Preparation, Financial and Estate Planning: You are entitled to reimbursement of up to
$7,500 per calendar year (January 1 — December 31) for expenses incurred due to tax preparation,
financial and/or estate planning services, as well as the purchase of tax preparation and/or
financial planning software. Eligible services provided by qualified providers, accompanied by
copies of receipts/invoices, will be reimbursed. Such reimbursements are considered taxable
income.

Air Travel Upgrade: You are entitled to fly first class on all U.S. transcontinental flights
(e.g., Boston to San Diego). Overseas flights and other domestic flights are subject to the
same policy as all other employees.

Once you have accepted this offer, please sign and return a copy of this letter to me.

I am confident you will continue to contribute to Biogen Idec’s success and wish you the best of
luck in your new position.

	 	 	 	 	 
	Sincerely,

 	 	 
	/s/ James C. Mullen
 	 	 
	James C. Mullen 	 	 
	Chief Executive Officer and President 	 	 
	 

cc: Craig E. Schneier, Ph.D.

	 	 	 
	/s/ Paul J. Clancy

	 	8/21/07
	Paul J. Clancy

	 	Date

 

 

Page 3 of 4

Executive Severance — Executive Vice President

As an Executive Vice President, you are entitled to severance benefits in the event your employment
is terminated by Biogen Idec other than For Cause or for reason of death or Disability (as these
terms are defined in the Biogen Idec 2005 Omnibus Equity Plan). Your severance benefits are
comprised of (i) a lump sum payment (as calculated below), (ii) upon completion of the appropriate
forms, continuation of your participation in Biogen Idec’s group medical and dental insurance
plans, to the same extent permitted by COBRA and to the same extent such insurance is then provided
to regular employees of Biogen Idec, including payment by you of a portion of the insurance
premiums (i.e., the “Insurance Benefit”), and (iii) the reasonable cost of up to nine months of
executive-level outplacement services from a recognized provider of such services, at the expense
of Biogen Idec (upon receipt of appropriate documentation).

The lump sum severance payment is calculated as follows:

[9 + (A x 2.5)] x B = lump sum payment

	 	where:	 	 A is the number of full years of service with Biogen Idec (but A x 2.5 may not exceed 12), and
B is the monthly equivalent of your target annual cash compensation at the time of your termination (i.e., one-twelfth
of the sum of your then annual base salary plus target annual bonus).

The lump sum payment (less applicable taxes and other mandatory deductions as required by law) will
be paid to you following the later1 of (i) the termination of your employment with
Biogen Idec and (ii) the effective date of a signed general release in favor of Biogen Idec (see
below). The Insurance Benefit will continue until the earlier of (i) the date you become eligible
to participate in the medical and dental insurance plan of another employer or (ii) the date that
is [9 + (A x 2.5)] months, but not more than 21 months, following the termination of your
employment with Biogen Idec (the “Insurance Benefit Period”). You will have the right, at your own
expense, to continue your participation in Biogen Idec’s group medical and dental insurance plans
at the expiration of the Insurance Benefit Period, pursuant to the provisions of COBRA, but only
for an 18-month period that will be deemed to have commenced at the start of your severance.

The following are examples of how the lump sum payment and Insurance Benefit Period are determined:

If your employment with Biogen Idec is terminated after ten months of employment, you will
receive a lump sum payment equal to nine months of your target annual cash compensation and
continue to participate in Biogen Idec’s group medical and dental plans for nine months, unless
you become eligible to participate in another employer’s medical and dental plans before that
date. COBRA continuation of medical and dental benefits is available, at your own expense, for
an additional nine months after this nine-month Insurance Benefit Period.

If your employment with Biogen Idec is terminated after five years, you will receive a lump sum
payment equal to twenty-one months [9+12] of your target cash annual compensation and continue
to participate in Biogen Idec’s group medical and dental plans for twenty-one months, unless you
become eligible to participate in another employer’s medical and dental plans before that date.

 

			
	1	 	If you are a “specified employee” under Section 409A of
the Internal Revenue Code of 1986 (which includes certain officers of public
companies, including Biogen Idec), that portion of your severance payment that
is subject to (and not otherwise exempt from) Section 409A will be paid in a
lump sum six months after the date of your termination of employment.

 

 

Page 4 of 4

If at any time within two years following a Corporate Transaction or Corporate Change in Control
(as these terms are defined in Biogen Idec’s 2005 Omnibus Equity Plan) your employment is
terminated by Biogen Idec or the succeeding corporate entity, other than For Cause or for reason of
death or Disability (as these terms are defined in Biogen Idec’s 2005 Omnibus Equity Plan), or you
experience an Involuntary Employment Action (defined below) and as a result you terminate your
employment with Biogen Idec or the succeeding corporate entity, then, regardless of the length of
your service with Biogen Idec and the succeeding corporate entity, and in lieu of the formula set
forth above, you will receive a lump sum payment2 equivalent to twenty-four months of
your then-current target annual cash compensation. In addition, you will be entitled to continue
participating in Biogen Idec’s group medical and dental plans for twenty-four months, unless you
become eligible to participate in another employer’s medical and dental plans before that date.
The term “Involuntary Employment Action” shall have the definition set forth in Biogen Idec’s 2005
Omnibus Equity Plan, provided, however, that for purposes hereof the term “Corporate Transaction”
used in such definition shall be deemed to mean either a Corporate Transaction or Change in
Control, as the case may be.

Payment and provision of the severance benefits described above are conditioned on your execution
of a general release in favor of Biogen Idec, in form and substance reasonably acceptable to Biogen
Idec, with respect to any and all claims relating to your employment and the termination of your
employment with Biogen Idec. If you retire or voluntarily terminate your employment with Biogen
Idec, or Biogen Idec terminates your employment For Cause or for reason of death or Disability (as
these terms are defined in Biogen Idec’s 2005 Omnibus Equity Plan), or you do not provide the
requisite general release, you will not be eligible to receive the severance benefits described
above.

 

			
	2	 	If you are a “specified employee” under Section 409A of
the Internal Revenue Code of 1986 (which includes certain officers of public
companies, including Biogen Idec), that portion of your severance payment that
is subject to (and not otherwise exempt from) Section 409A will be paid in a
lump sum six months after the date of your termination of employment.

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