BRIEF-Valeant says new CEO Papa will get base salary of $1.5 mln

Wed Apr 27, 2016 7:08pm EDT
 
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April 27 (Reuters) - Valeant Pharmaceuticals International Inc

* Valeant Pharmaceuticals International Inc says new CEO Papa will get base salary of $1.5 million, target annual bonus equal to 150 percent of his base salary

* Within 30 days following commencement date, Papa to get cash payment of $8 million

* In connection with entering into employment agreement, Papa will receive 373,367 restricted share units

* Papa to get $8 million to compensate for equity-based compensation forfeited in connection with termination of employment with Perrigo Source - 1.usa.gov/1N0Qadd Further company coverage: (Bengaluru Newsroom; +1 646 223 8780)