This excerpt taken from the JNJ 10-K filed Mar 14, 2006.
Summary of Employment Arrangements for Michael J. Dormer
There are certain arrangements and benefits in place for Mr. Michael J. Dormer, Worldwide Chairman, Medical Devices, and a Member of the Executive Committee, arising from his prior employment as the Chief Operating Officer of DePuy, Inc. When Johnson & Johnson acquired DePuy in 1998, Mr. Dormer was offered an employment agreement to replace his existing employment agreement with DePuy, Inc. In 2001, Mr. Dormer and the Company agreed to rescind his employment agreement when he was appointed to the Executive Committee and named Franchise Group Chairman for Medical Devices. Certain benefits and arrangements under Mr. Dormers employment agreement were retained. The following arrangements and benefits were in place during 2005 and continue to be available to Mr. Dormer: