Benefits

Genzyme offers a comprehensive range of benefits for all employees. The following is a brief summary

Annual Salary

Stock Option Programme (ie Shares)

Stock Options are granted on a discretionary basis to all employees. Stock Options enable employees to buy Company shares at a later date and at a price fixed when the Options were granted. They are seen as a way of allowing employees to benefit from the Company’s success and as a reward for their contribution to the growth in the Company’s value.

Employee Stock Purchase Plan

All employees are entitled to join the Employee Stock Purchase Plan, which enables them to purchase shares in the Company at a discounted rate.

Pension Scheme

Genzyme currently offers a final salary pension scheme, which all employees are eligible to join with effect from the first day of employment. The scheme is contributory.

Life Assurance

Employees are immediately provided with life assurance cover for two or four times salary life assurance cover.

Income Replacement Insurance

All employees are covered by the company’s Income Replacement Insurance policy.

Private Medical Insurance

Free private medical insurance is available to all employees.

Holiday Entitlement

Holidays are 25 days or equivalent shifts per year pro rata from January to December plus statutory Bank/Public Holidays.

Annual Performance Review

Genzyme encourages open communication between managers and employees including regular reviews of objectives and development/training needs.

Vocational Training/Professional Development

Genzyme actively encourages employees to pursue vocational training and professional development opportunities, and if approved, offer financial support.

Payment of Professional Fees

Reimbursement of professional fees is offered to employees who are members of job related professional organisations.

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