{"id":40751,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/work-contract-abbott-laboratories.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"work-contract-abbott-laboratories","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/work-contract-abbott-laboratories.html","title":{"rendered":"Work Contract – Abbott Laboratories"},"content":{"rendered":"

ABBOTT LABORATORIES EUROPE<\/strong><\/p>\n

\n

WORK CONTRACT<\/strong><\/p>\n

\n

BETWEEN THE UNDERSIGNED :<\/strong><\/p>\n

\n

ABBOTT LABORATORIES SA, company incorporated under the Law of
\nSwitzerland, with a capital of 50.000 Switzerland Francs, registered under the
\nCommercial and Company Registry of Zoug, under the number 107 927, CH
\n170.3.015197-9, whose registered office is Neuhofstrasse 23, 6341 Baar,
\nSwitzerland.<\/p>\n

\n

Whose French branch is located at 10, rue d’Arcueil, Zone Silic,
\nin Rungis (94), and which is registered under the Commercial and Company
\nRegistry of Cr teil under the number B 450 675 905, represented by Stephen R.
\nFussell, in his capacity as Senior Vice President, Human Resources, and Thierry
\nCoosemans, in his capacity as Area Finance Director Western Europe and Canada.\n<\/p>\n

\n

Hereinafter referred to as “the company”.<\/p>\n

\n

ON ONE HAND,<\/p>\n

\n

Mr. Olivier BOHUON, born on ,
\nnationality, residing at
\n , registered
\nunder the Social Security no: .<\/p>\n

\n

Hereinafter referred to as “Mr. Olivier BOHUON”.<\/p>\n

\n

ON THE OTHER HAND,<\/p>\n

\n

Hereinafter together referred to as the “parties”.<\/p>\n<\/p>\n

\n

<\/p>\n

\n

IT HAS BEEN AGREED AS FOLLOWS:<\/u><\/strong><\/p>\n

\n

ARTICLE 1 : PURPOSE<\/u><\/strong><\/p>\n

\n

The Company has hired, on the terms set forth below, Mr. Olivier
\nBOHUON, who accepts, as Executive Vice President Pharmaceutical Products
\ntop-level executive status.<\/p>\n

\n

As the Executive Vice President Pharmaceutical Products,
\nMr. Olivier BOHUON is required to perform his duties as described below.<\/p>\n

\n

Mr. Olivier BOHUON is in charge of \/ responsible for:<\/p>\n

\n

– Managing Abbott’s financial assets.<\/p>\n

– Profitably grow the Pharmaceutical business
\nby leading people and managing key functions and processes.<\/p>\n

– Develop business strategies and assure their
\nimplementation. Communicate these strategies to employees.<\/p>\n

– Develop an annual business plan for the
\nPharmaceutical business and achieve goals that have been committed to.<\/p>\n

– Guarantee that the organization attracts,
\ndevelops and retains the talent necessary to grow the business \/ business
\nsuccess.<\/p>\n

– Conduct all business in an ethical manner
\nfollowing Abbott’s Code of Business Conduct.<\/p>\n

– Take corrective actions to protect Abbott’s
\nassets, reputation and business. Keep senior management informed of all
\nimportant issues that may affect the business.<\/p>\n

– Understand the Pharmaceutical business and
\nbusiness environment so as to seek out opportunities for Abbott and address any
\npotential threats.<\/p>\n

\n

The missions as described do not intend to restrict management’s
\nright to assign or re-assign duties to this job, such change not being
\nconsidered as an essential modification of this work contract, as expressly
\nacknowledged by Mr. Olivier BOHUON when signing this employment contract.<\/p>\n

\n

Mr. Olivier BOHUON shall report to his superior, currently the
\nChief Executive Officer or to such person(s) as directed by the Company.<\/p>\n

\n

For this purpose, the Collective Bargaining Agreement currently
\napplicable within the company is the one applicable to “Technical Studies,”
\nConsulting Engineer’s Offices and Consulting Companies” Called SYNTEC.<\/p>\n

\n

This reference to the Collective Bargaining Agreement is not
\nconsidered as a substantial condition of this employment contract as
\nacknowledged by the parties when signing this contract.<\/p>\n

\n

Mr Olivier BOHUON formally declares that he is free from any
\ncommitment towards another company.<\/p>\n

\n

Mr. Olivier BOHUON must inform the company of any changes in his
\npersonal status (address, tax residency status, etc) which could modify his
\nprior statements.<\/p>\n

\n

2<\/p>\n

\n

<\/p>\n

\n

ARTICLE 2 : TRIAL PERIOD<\/u><\/strong><\/p>\n

\n

The present employment contract is concluded for an unlimited
\nperiod of time, as from February 2010, with no trial period.<\/p>\n

\n

The seniority acquired by Mr. Olivier BOHUON with ABBOTT since
\nJune 1st, 2003, is entirely taken into account for the entitlement to all
\nrelated benefits.<\/p>\n

\n

ARTICLE 3 : PLACE OF WORK<\/u><\/strong><\/p>\n

\n

Mr. Olivier BOHUON’s place of work is at the premises of the
\ncompany, which are presently located at 10, rue d’Arcueil, Zone Silic, Rungis
\n(94) in France.<\/p>\n

\n

ARTICLE 4 : BUSINESS TRIPS<\/u><\/strong><\/p>\n

\n

During the performance of his duties, Mr. Olivier BOHUON agrees
\nto undertake business trips in France and abroad, and thus to be away from his
\nhome for limited periods of time. For business trips abroad, he will be
\ncompensated as described in Article 8.<\/p>\n

\n

ARTICLE 5 : WORKING TIME<\/u><\/strong><\/p>\n

\n

Mr. Olivier BOHUON is considered as a top-level executive in
\naccordance with the provisions of article L. 3111-2 of the Labour Code, given
\nthe nature of this duties, the large freedom which he has been granted in the
\norganization of this working time and, demonstrated by the high level of
\nresponsibilities and remuneration, he is not subject to the legal regulations
\nrelated to the duration of work and is exclusively remunerated for the
\nsuccessful completion of his assigned tasks.<\/p>\n

\n

ARTICLE 6 : PAID HOLIDAYS<\/u><\/strong><\/p>\n

\n

Mr. Olivier BOHUON will be entitled to 25 vacation days per
\nyear.<\/p>\n

\n

The referenced year for holiday runs from June 1st of the
\npreceding year to May 31st of the succeeding year.<\/p>\n

\n

3<\/p>\n

\n

<\/p>\n

ARTICLE 7 : COMPENSATION<\/u><\/strong><\/p>\n

\n

7.1 Fixed Compensation<\/strong><\/p>\n

\n

In compensation for his services, effective March 1, 2010,
\nMr. Olivier BOHUON shall receive a gross annual remuneration amounting to
\n576.388 uros (five hundred and seventy six thousand three hundred and eighty
\neight euros), to be paid in 13 equal monthly instalments. His fixed compensation
\nwill be reviewed and adjusted on an annual basis.<\/p>\n

\n

The thirteenth payment will be paid at the end of November each
\nyear.<\/p>\n

\n

This remuneration includes the holiday bonus, which is provided
\nby article 31 of the applicable Collective Bargaining Agreement.<\/p>\n

\n

Mr. Olivier BOHUON’s gross annual salary is a global payment
\nwhich covers the whole working time required for the expected performance of his
\nduties, irrespective of the actual hours worked.<\/p>\n

\n

7.2. Variable compensation<\/strong><\/p>\n

\n

Mr. Olivier BOHUON will receive a variable remuneration
\naccording to the achievement of the targets determined each year by the company,
\ncorresponding to 105% of his base remuneration if established, applicable
\nCompany, Division, and individual performance targets are achieved, as governed
\nby the Performance Incentive Plan.<\/p>\n

\n

7.3 Tax Equalization<\/strong><\/p>\n

\n

Given the conditions of performance of his duties and given the
\nactivities of the company, Mr. Olivier BOHUON is requested to travel abroad
\nfrequently and on periods reaching many weeks in one year.<\/p>\n

\n

In order to take into account the time spent abroad for the
\nneeds of and in the interests of the company, and in order to facilitate
\ncompliance with applicable country income tax laws, Mr. Olivier BOHUON will be
\ncovered by the Tax Equalization program as defined in the Abbott Cross Border
\nTransfer policy now in effect and as changed from time to time. Tax preparation
\nservices under this program will be provided by a Company-designated tax
\nconsulting firm.<\/p>\n

\n

A primary objective of this program is to ensure that his tax
\nburden while performing his duties abroad will follow tax principles reasonably
\nsimilar to those that would have been applicable had he remained in France. As
\nan exception to the standard program elements and only for Tax Equalization
\ncalculation purposes, he will be deemed to benefit in France from an exempted
\nExpatriation Bonus capped for calculation purposes only at 30%\/(1+30%) of his
\nFixed and Variable Compensation as defined above.<\/p>\n

\n

It is expressly agreed that Mr. Olivier BOHUON shall record and
\njustify his business travels in an internal document and keep copies of all
\nreceipts of his business trips (expense, receipt, plane tickets, reports, hotels
\netc) in order to prove, from a tax equalization standpoint, the number of days
\nspent outside France and the purposes of these travels.<\/p>\n

\n

4<\/p>\n

\n

<\/p>\n

ARTICLE 8 : PROFESSIONAL EXPENSES<\/u><\/strong><\/p>\n

\n

Professional expenses and, in particular, expenses related to
\nbusiness trips taken by Mr. Olivier BOHUON in the exercise of his duties will be
\nreimbursed upon presentation of supporting receipts, in accordance with the
\nprocedures in force within the company.<\/p>\n

\n

ARTICLE 9 : COMPANY CAR<\/u><\/strong><\/p>\n

\n

For the performance of these duties, Mr. Olivier BOHUON will
\nbenefit from a company car, as defined in the Car Policy of the company.<\/p>\n

\n

ARTICLE 10 : COMPANY BENEFITS<\/u><\/strong><\/p>\n

\n

Mr. Olivier BOHUON will be registered to the complementary
\nretirement scheme of CGIS-CIS CIRCO and ACGME (Groupe Mornay, 5 to 9 rue van
\nGogh : 75591 PARIS CEDEX 12) and to the provident scheme MERCER (36, rue
\nRaspail, 92536 Levallois Perret cedex), in force within the company.<\/p>\n

\n

These schemes will be subject to any legal modification that
\ncould be subsequently decided.<\/p>\n

\n

ARTICLE 11 : SICKNESS<\/u><\/strong><\/p>\n

\n

In the case of incapacity to work due to sickness or accident,
\nMr Olivier BOHUON shall advise the company as soon as possible, and at the
\nlatest within 24 hours.<\/p>\n

\n

Mr. Olivier BOHUON shall also justify his incapacity to work by
\nsubmitting a medical certificate to his management within 48 hours of his
\nabsence at the latest.<\/p>\n

\n

ARTICLE 12 : FINANCIAL PLANNING<\/u><\/strong><\/p>\n

\n

Abbott executives are eligible to participate in the Abbott
\nFinancial Planning Program provided by Ernst & Young, JMG Financial, or
\nNorthern Trust. Each of the providers will contact Mr. Olivier BOHUON to provide
\nhim with information regarding the service they can provide. Abbott will
\nreimburse him for these services up to the maximum allowable, U.S. $ 10,000. He
\nwill be responsible for any amount over the maximum.<\/p>\n

\n

This benefit is taxable to Mr. Olivier BOHUON as imputed income.
\nIn any quarter that uses this service, the provider will bill Abbott directly
\nand Abbott will pay the bill up to the maximum benefit. The charge for this
\nservice will be included in his gross earnings and applicable tax and social
\nsecurity deductions made from a paycheck prior to the end of that quarter.<\/p>\n

\n

5<\/p>\n

\n

<\/p>\n

ARTICLE 13 : PROFESSIONAL OBLIGATIONS<\/u><\/strong>\n<\/p>\n

\n

13.1 Exclusivity<\/strong><\/p>\n

\n

Given the confidential nature of his duties as well his
\nresponsibilities and level of remuneration, Mr. Olivier BOHUON shall devote the
\nwhole of his working time to the performance of his professional activities to
\nthe company and shall not be engaged, for any reason whatsoever, on his own
\nbehalf or on behalf of another individual, in any other professional activities
\nto the company and shall not be engaged, for any reason whatsoever, on his own
\nbehalf or on behalf of another individual, in any other professional activity, a
\nfortiori a competing activity, while employed by the company, except with the
\nprior written consent of the company’s legal representative.<\/p>\n

\n

13.2 Confidentiality<\/strong><\/p>\n

\n

Mr. Olivier BOHUON shall keep secret and shall not at any time
\nduring his employment or after termination of his employment contract, for
\nwhatever reason, use, communicate or reveal to any person, directly or
\nindirectly, for whatever reason, any secret or confidential information which
\nshall have come to his knowledge during his employment with the company, except
\nwith prior written authorization from the company’s legal representative.<\/p>\n

\n

“Confidential information” includes all information of
\nwhatsoever nature (technical scientific, commercial or other) and, in
\nparticular, all information belonging to the company or any other company of the
\ngroup relating to its strategy, its financial situation, its functioning, its
\nclients, its products, its software programs, its fabrication, marketing and
\ndevelopment plans, business secrets of whatsoever nature.<\/p>\n

\n

This commitment will apply to all information relating to the
\ncompany’s (or any other company of the group) relationship with clients and
\nsuppliers.<\/p>\n

\n

ARTICLE 14 : RESTITUTION<\/u><\/strong><\/p>\n

\n

In case of termination of his employment contract for whatsoever
\nreason, and on the last day of effective work, Mr. Olivier BOHUON shall
\nimmediately hand over to the company all documents, books, materials,
\nrecordings, correspondence, access codes, computer software, computer
\nspecifications, papers and information (on whatever media and wherever located)
\nrelating to the company’s activity and \/ or any other company of the group to
\nwhich the company belongs.<\/p>\n

\n

Mr. Olivier BOHUON shall immediately hand over any magnetic disk
\non which information relating to the company’s activity is stored, and all keys,
\ncredit cards and any other means of the company or any other entity to which the
\ncompany is linked. He will have to show the evidence of the good accomplishment
\nof the above obligation.<\/p>\n

\n

6<\/p>\n

\n

<\/p>\n

\n

ARTICLE 15 : TERMINATION<\/u><\/strong><\/p>\n<\/p>\n

Each party shall have the right to terminate this employment
\ncontract by giving a notice period as determined by the applicable Collective
\nBargaining Agreement and at present fixed at 3 months.<\/p>\n

\n

However, this notice period is not due in case dismissal for
\nserious misconduct or gross misconduct.<\/p>\n

\n

ARTICLE 16:
\n<\/u><\/strong>MISCELLANEOUS<\/u><\/strong><\/p>\n

\n

This Agreement constitutes the entire agreement entered into
\nbetween the Company and Mr. Olivier BOHUON. It nullifies and supersedes in all
\nrespects any other contract or agreement, whether written or oral, entered into
\nwith the Company and\/or any affiliated companies and more generally any
\narrangements or conventions whatever previously entered into and relating to the
\nmatters dealt in this Agreement by the parties.<\/p>\n

\n

ARTICLE 17 : APPLICABLE LAW<\/u><\/strong><\/p>\n

\n

This employment contract shall be construed and governed by
\nFrench law.<\/p>\n

\n

French courts will be the only competent courts regarding the
\nexecution, interpretation and termination of this employment contract.<\/p>\n

\n

\n

In two originals<\/strong><\/p>\n

\n

\n

RUNGIS<\/p>\n

\n

February<\/p>\n

\n

\n

For the company ABBOTT LABORATORIES<\/strong><\/p>\n

\n\n\n\n\n\n
\n

\/s\/ Stephen R. Fussell<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

\n<\/td>\n<\/tr>\n

\n

Mr. Stephen R. Fussell<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

\n<\/td>\n<\/tr>\n

\n

Senior Vice President, Human Resources<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n

\n\n\n\n\n\n
\n

\/s\/ Thierry Coosemans<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

\n<\/td>\n<\/tr>\n

\n

Mr. Thierry Coosemans<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

\n<\/td>\n<\/tr>\n

\n

Area Finance Director Western Europe and Canada<\/strong>\n<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n

\n\n\n\n\n\n
\n

\/s\/ Olivier BOHUON<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

\n<\/td>\n<\/tr>\n

\n

For the employee<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

\n<\/td>\n<\/tr>\n

\n

Mr Olivier BOHUON<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n

7<\/p>\n

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