Thermo Fisher Scientific has agreed to a renegotiated contract with Marijn Dekkers that gives the CEO a base salary of $1.17 million per year as well as a target incentive bonus of 125 percent of base salary, the company disclosed in a filing last week with the US Securities and Exchange Commission. The new contract holds through the end of 2017.
If the company opts to sack Dekkers before the contract ends, it will owe him a buyout of three times his current base salary, three times his target bonus, a pro-rata bonus for the year of the termination, and outplacement services worth up to $50,000.
Dekkers base salary in 2007 was $1.13 million, up from $1.04 million in 2006. He also received a 2007 bonus of $1.9 million.