BNET -- Before Sanofi (SNY) bought Genzyme, the latter began a program of 1,000 layoffs to make itself more efficient. Any workers who lost their jobs instantly had their restricted stock units — company shares that vest over time as an incentive — cancelled. Except, that is, in the executive suite and the boardroom. Genzyme’s SEC disclosures indicate that former CEO Henri Termeer and his team got to keep all their restricted stock units, and that they vested immediately. Termeer’s RSU’s were worth about $9.5 million of his $208 million termination package.
