A heart-warming tale…

December 7, 2004

Several executives at Endocardial Solutions (ECSI), which makes a diagnostic tool for detecting fatal heart rhythms, stand to clean up once the acquisition by St. Jude Medical (STJ) is consumated. In the proxy filed last week, the company disclosed numerous ways that its top executives will benefit from the deal announced in September.

For example, CEO James Bullock, who made $282,000 last year, will receive $435,000 under a change in control agreement, a consulting contract that will pay him $25,000 a month indefinitely, and $4.186 million worth of stock. While Bullock, 47, stands to gain the most, several other executives will also walk away as newly minted millionaires including CFO J. Robert Paulson, who only joined the company in 2002.

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