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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549


FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934


Date of Report (Date of earliest event reported): February 12, 2008

BOSTON SCIENTIFIC CORPORATION
(Exact name of registrant as specified in charter)

                                                                                                                        
 
DELAWARE
1-11083
04-2695240
 (State or other jurisdiction of incorporation)
(Commission file number)
(IRS employer identification no.)
 
 
 
One Boston Scientific Place, Natick, Massachusetts
01760-1537
(Address of principal executive offices)
(Zip code)
 
 

Registrant’s telephone number, including area code: (508) 650-8000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the fling obligation of the registrant under any of the following provisions:

[   ]  Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[   ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


 
 
 


ITEM 5.02. 
DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.


Our Compensation Committee has approved retention awards for certain members of our Executive Committee in order to address concerns about retaining members of our senior management team during a challenging but critical period for the Company.  The individuals were permitted to select the form of the award among a combination of stock options, deferred stock units (DSUs) and cash.  The awards were issued on February 12, 2008 once the selections were processed and reviewed by the Compensation Committee.  The stock options and DSUs are subject to the standard terms and conditions under our 2003 Long-Term Incentive Plan but will vest ratably over two years, and the cash will be paid ratably over two years.  The executives listed below were granted the following retention awards as of February 12, 2008:
 

 
Name
Title
  
Stock Options
    
DSUs
    
Cash
  
                           
Brian Burns
Senior Vice President, Quality
     n/a       13,626     $ 170,900  
                           
Fredericus Colen
Executive Vice President, Operations and Technology, CRM
     76,705       26,957       n/a  
                           
Paul Donovan
Senior Vice President, Corporate Communications
     n/a       12,827     $ 160,400  
                           
James Gilbert
Executive Vice President, Strategy and Business Development
     153,409       n/a       n/a  
                           
William Kucheman
Senior Vice President and Group President, Interventional Cardiology
     n/a       7,987     $ 100,000  
                           
William McConnell
Senior Vice President, Sales, Marketing and Administration, CRM
     n/a       16,573     $ 207,500  
                           
David McFaul
Senior Vice President, International
     136,364       n/a       n/a  
                           
Stephen Moreci
Senior Vice President, Group President, Endosurgery
     70,750       n/a       n/a  
                           
Kenneth Pucel
Executive Vice President, Operations
     n/a       16,773     $ 210,300  
                           
Lucia Quinn
Executive Vice President, Human Resources
     61,364       21,565       n/a  

 

 
 
 


SIGNATURE


Pursuant to the requirements of the Securities and Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
  BOSTON SCIENTIFIC CORPORATION  
       
Date: February 15, 2008
By:
/s/ Lawrence J. Knopf   
    Lawrence J. Knopf   
    Senior Vice President and Deputy General Counsel