I-trax chairman Frank Martin will receive the largest bonus - $400,480 - once the purchase has been completed, according to a filing with the Securities and Exchange Commission. CEO R. Dixon Thayer will get $193,120.

Walgreen agreed to buy the operator of worksite-based health clinics on March 14 for $278 million, or $5.40 per share.

These payments are called “transaction bonuses,” and they only get paid if the deal gets done.

As of Dec. 31, I-trax had 1,327 full-time employees, 139 part-timers and 697 nurses, physicians, pharmacists and fitness employees retained on an as-needed basis.

Source: Philly.com
Original Publication Date: April 2, 2008