Bausch + Lomb discloses separation agreement terms for departing President Joseph Gordon

Bausch & Lomb Corp

Cash severance of $2,203,200 (2x base salary plus target bonus).
Prorated 2023 annual bonus based on actual performance, paid by March 15, 2024.
Health coverage through second anniversary of Nov 30, 2023 separation date.
Unpaid spinoff bonus of $250,000 and legal fee reimbursement up to $5,000.
Time-based RSUs and stock options from March 1, 2023 continue vesting through March 1, 2024 consulting period; non-solicit extended to 24 months.

item 5.02

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Departed

Joseph Gordon

President

BLCO · Bausch & Lomb Corp

Filed: November 7, 2023, 6:59 PM ET

On November 6, 2023, the Company entered into a separation agreement with Mr. Gordon (the “Separation Agreement”),

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.6

Joseph Gordon resigned as President at Bausch & Lomb Corp.

Action: resigned
Role: President

Exact text from the filing

On November 6, 2023, the Company entered into a separation agreement with Mr. Gordon (the “Separation Agreement”),

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Source: SEC EDGAR

accession 0001860742-23-000032

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