Arbritration Panel Awards Former Executives of Applied Biosystems $17.4 Million for Lost Benefits | GenomeWeb

NEW YORK (GenomeWeb News) – An arbitration board has awarded five former employees of Applied Biosystems $17.4 million in "unpaid change in control benefits" resulting from the merger of that firm with Invitrogen in 2008, resulting in the formation of Life Technologies.

The board has ordered Life Tech to pay Dennis Winger; Thomas Livingston; John Ostaszewski; Barbara Kerr; and Ugo DeBlasi a total of $6.8 million in damages, as well as $10.6 million in excise and income tax gross-ups after the board found that Life Tech breached their employment agreements.

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