ACADIA Pharmaceuticals Inc. Executive Officer Annual Incentive Cash Compensation Program Description
ACADIA Pharmaceuticals Inc. has established an annual incentive cash compensation program for its executive officers, as approved by the Board of Directors. The program sets target bonus percentages of base salary for each executive, with actual payouts ranging from 0 to 150% of the target based on performance. The Compensation Committee evaluates each executive's and the company's achievement of specific goals, such as research and development milestones, to determine the final bonus amount. Some evaluation criteria are confidential business information.
Exhibit 10.33
ACADIA Pharmaceuticals Inc.
Description of Executive Officer Annual Incentive Cash Compensation Program
The Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of ACADIA Pharmaceuticals Inc. (the “Company”) has recommended to the Board, and the Board has approved, incentive cash compensation for the Company’s executive officers pursuant to an annual incentive cash compensation program. The program will provide for an annual incentive cash compensation target equal to a percentage of each executive’s base salaries as follows: 50% for Uli Hacksell, President and Chief Executive Officer; 35% for each of Roger Mills, Executive Vice President, Development and Chief Medical Officer, and Thomas Aasen, Executive Vice President, Chief Financial Officer and Chief Business Officer; and 30% for Glenn Baity, Vice President & General Counsel.
Under the program, after the completion of each fiscal year the Committee recommends to the Board for approval for each executive a bonus that will be equal to an amount from 0 to 150% of the applicable target amount. In making its recommendations, the Committee assesses the level of achievement of specific criteria by the executive and the Company. These criteria include the achievement of research and development milestones, including the advancement of the Company’s clinical programs and the Company’s preclinical assets toward clinical development; and other criteria the disclosure of which would reveal confidential business information and plans of the Company.
