**Masimo Corporation Enters Employment Agreement with Michelle Brennan as Interim Chief Executive Officer**

Masimo Corporation (NASDAQ: MASI) recently announced an employment agreement with Michelle Brennan, appointing her as the Interim Chief Executive Officer of the company. The agreement outlines terms that detail Brennan’s responsibilities and compensation during her tenure.

Effective September 24, 2024, Brennan will serve as the Interim Chief Executive Officer and will also continue as a member of the Board of Directors. She will report directly to the Board and primarily work from Spearfish, SD, with occasional travel to the company’s headquarters in Irvine, CA or other necessary business locations.

While serving in this role, Brennan will not receive any compensation for her Board membership. She is expected to exert her best efforts, perform diligently, and dedicate her full business time to enhance Masimo’s business. The agreement allows Brennan to serve on for-profit and non-profit organization boards with prior approval, bearing in mind her obligations to Masimo.

As part of the agreement, Masimo will pay Brennan an annual base salary of $1,042,000, following the company’s regular payroll practices. Additionally, she will be eligible for a discretionary bonus of up to $621,250, subject to Board approval. Furthermore, Brennan will receive an award of 8,916 restricted stock units (RSUs) under the company’s Equity Incentive Plan.

Brennan will have access to employee benefit plans and programs at a level consistent with other senior executives, as detailed in the agreement. Along with standard benefits, she will have allocated vacation, holiday, and sick leave as per the company’s policies.

The termination clauses of the agreement stipulate that either party may terminate the employment relationship at any time, for any reason, with or without notice, until the Term Expiration Date, which is March 24, 2024.

The agreement emphasizes confidentiality and non-competition agreements to protect Masimo’s interests even after Brennan’s employment ceases. It also covers indemnification, cooperation, notices, and tax matters, ensuring a comprehensive approach to the employment relationship.

Overall, the employment agreement solidifies Brennan’s interim position as Chief Executive Officer of Masimo Corporation, setting out clear terms and responsibilities for both parties involved in the agreement.

For further details and the complete agreement, investors and stakeholders can access the Securities and Exchange Commission filings on the company’s official website.

For more information and updates on Masimo Corporation, visit their website at [www.masimo.com](www.masimo.com).

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Masimo’s 8K filing here.

Masimo Company Profile

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity solutions worldwide. The company offers masimo signal extraction technology (SET) pulse oximetry with measure-through motion and low perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry; Masimo rainbow SET platform, including rainbow SET Pulse CO-Oximetry products that allows noninvasive monitoring of carboxyhemoglobin, methemoglobin, hemoglobin concentration, fractional arterial oxygen saturation, oxygen content, pleth variability index, rainbow pleth variability index, respiration rate from the pleth, and oxygen reserve index, as well as acoustic respiration monitoring, SedLine brain function monitoring, NomoLine capnography and gas monitoring, and regional oximetry.