ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
Restoration of Annual Cash Retainer for the Board of Directors
As previously disclosed, on April 1, 2020, in light of the disruption and
uncertainty created by the evolving COVID-19 pandemic and its anticipated impact
on the operations of Boston Scientific Corporation (the "Company"), the Board of
Directors of the Company (the "Board") determined that, for the one-year term
beginning at the 2020 Annual Meeting of Stockholders, the annual cash retainer
for each non-employee director serving on the Board would be temporarily reduced
to one-half of the previously approved amount. On September 30, 2020, the Board
determined that, due to stronger business results compared with the Company's
prior expectations, the annual cash retainer for the Board will be restored,
beginning with a payment expected to be made during the fourth quarter of 2020.
As a result, the aggregate annual cash retainer for the Board will be
two-thirds, rather than one-half, of the previously approved amount for the 2020
term.
In the event that a non-employee director elected to receive equity in lieu of
the annual cash retainer, as permitted under the Company's non-employee director
compensation program, an additional grant valued at one-sixth of the annual cash
retainer will be made at or around the time of the payment of the fourth quarter
2020 Board cash retainer.
Exhibit No. Description
104 Cover Page Interactive Data File - the cover page XBRL tags are embedded
within the Inline XBRL document
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