2019 Cash Bonus Plan Summary

Contract Categories: Human Resources - Bonus & Incentive Agreements
EX-10.18 2 ex_136829.htm EXHIBIT 10.18 ex_136829.htm

Exhibit 10.18

 

2019 Cash Bonus Plan Summary

 

Target bonuses for named executive officers of AcelRx Pharmaceuticals, Inc. (the “Company”) under the 2019 Cash Bonus Plan (the “Plan”) will range from 35% to 55% of such executive’s 2019 base salary. The amount of cash bonus, if any, for each named executive officer will be based on both the named executive officer achieving his or her individual performance goals and on the Company meeting the 2019 corporate objectives approved by the Board. The 2019 corporate objectives are primarily related to: the commercialization of DSUVIA™; successful REMS compliance; commercial support for Grunenthal sales efforts of Zalviso® in Europe; advancement of Zalviso for potential approval by the United States Food and Drug Administration; business development, including potential partnering for sales of DZUVEO outside the United States; and other financial objectives to support the Company’s corporate goals. The target bonuses for the Company’s named executive officers for 2019 are as follows:

 

 

Name

  

Position

  

Bonus %
 

Vincent Angotti

  

Chief Executive Officer

  

55%
 

Pamela Palmer, M.D., Ph.D.

  

Chief Medical Officer

  

40%
 

Raffi Asadorian

  

Chief Financial Officer

  

40%
 

Badri Dasu

  

Chief Engineering Officer

  

35%
 

Lawrence Hamel

  

Chief Development Officer

  

35%

 

Mr. Angotti’s cash bonus under the Plan shall be based 100% on the achievement of the 2019 corporate objectives.  The cash bonuses under the Plan for all other named executive officers shall be based 40% on the achievement of his or her individual performance goals, as determined by the Board, and 60% on the achievement of the 2019 corporate objectives. The named executive officers’ actual bonuses may exceed 100% of target in the event performance exceeds the predetermined goals.