Last Updated Aug 13, 2009 9:13 AM EDT
UPDATE: BMS retained DLA Piper in 2008 but not in 2009, according to the CRP's lobbying database. The company said:
The law firm, DLA Piper, is among the law firms retained by Bristol-Myers Squibb. However, Bristol-Myers Squibb has never retained Dick Armey. Further, Bristol-Myers Squibb has no connection whatsoever with an organization called Freedom Works.sleep overnight in parking lots in Los Angeles, or wait by the hundreds at county fairs to see a doctor in an animal stall in Tennessee.
But none of that lies in store for BMS' top execs. Even if they lose their jobs, BMS continues to fund their healthcare requirements as if nothing happened, according to this filing with the SEC.
Former CFO Andrew Bonfield (pictured), for instance, received these benefits when he left in 2008:
... severance payment ($1,923,332) and the cost of continuation of health care benefits ($23,736).If BMS is bought or merged, and management is ousted executives get a "continuation of benefits for three years." The SEC filing calculates those benefits as being worth between $22,000 and $78,000 for each top exec.
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