# Federal Register #2026-19077

Exemption for Abiomed Retirement Savings Plan to Acquire and Hold Contingent Value Rights

**Buyer:** Department of Labor (DOL)
**Posted:** September 17, 2026
**Identifier:** 2026-19077
**NAICS:** 523999, 523120

This award summary covers a Department of Labor exemption for the Abiomed Retirement Savings Plan:
- Government Buyer:
  - U.S. Department of Labor, Employee Benefits Security Administration, Office of Exemption Determinations
- OEMs and Vendors:
  - Abiomed, Inc.
  - Johnson & Johnson
- Products/Services Requested:
  - Acquisition and holding of Contingent Value Rights (CVRs) tied to Abiomed common stock
  - Payments of up to $35.00 per share in cash, contingent on achievement of specified milestones
- Unique or Notable Requirements:
  - Plan participants receive CVRs on the same terms as other shareholders
  - No fees or commissions paid for CVR acquisition
  - Johnson & Johnson must cover audit costs if requested by holders of at least 35% of CVRs and a milestone is not met
  - Plan must maintain records for six years and provide them to the Department upon request
  - Audit provisions and participant rights are consistent with the CVR Agreement

### Description

This notice grants an exemption allowing the Abiomed Retirement Savings Plan to acquire and hold contingent value rights (CVRs) and receive payments related to those rights. The exemption addresses transactions that would otherwise violate prohibited transaction provisions under ERISA and the Internal Revenue Code. The exemption is effective as of November 15, 2022, and includes conditions ensuring the transactions are administratively feasible, protective of plan participants, and consistent with the terms of the CVR Agreement. The Department of Labor reviewed comments and revised audit conditions accordingly.

[View original listing](https://www.federalregister.gov/documents/2026/09/17/2026-19077/exemption-involving-the-abiomed-retirement-savings-plan-located-in-danvers-ma)