Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b), (e)
On June 16, 2022, Haemonetics Corporation (the "Company") announced that
Michelle L. Basil, Executive Vice President, General Counsel has decided to
transition from the Company effective October 31, 2022. Ms. Basil has agreed to
remain in her current role through October 31, 2022 to ensure a seamless
transition while the Company conducts a search for her successor.
In consideration of the important services Ms. Basil will provide through
October 31, 2022, the Company and Ms. Basil have entered into an agreement dated
June 14, 2022 (the "Agreement") that sets forth the terms of Ms. Basil's
retention and transition through October 31, 2022 (the "Retention Date"),
including her continued compensation, a potential retention payment, restrictive
covenants in favor of the Company and a customary release of claims against the
Company. Under the terms of the Agreement, Ms. Basil's base salary will continue
unchanged and her outstanding equity incentive awards will continue to vest in
accordance with their terms through the Retention Date. Additionally, if Ms.
Basil does not resign and is not terminated for Cause (as defined in her
executive severance agreement with the Company) prior to the Retention Date, she
will receive a $500,000 retention bonus. Ms. Basil will not be eligible for a
bonus under the Company's fiscal 2023 short-term incentive plan, as she will no
longer be an employee of the Company subsequent to October 31, 2022.
The description of the Agreement set forth above is qualified in its entirety by
reference to the text of the Agreement, a copy of which will be filed with the
Company's Periodic Report on Form 10-Q for the first quarter of fiscal 2023.
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HAEMONETICS CORPORATION 
