Altus Pharmaceuticals Inc. Executive Officer Compensation Summary for 2005–2006

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Summary

Altus Pharmaceuticals Inc.'s Compensation Committee approved the 2005 bonuses and 2006 base salaries for its Chief Executive Officer and four other top executive officers. The bonuses for 2005 were based on company performance and individual achievements. For 2006, executives are eligible for cash bonuses up to 20% of their base salary, except the CEO, who may receive up to 50%, depending on performance goals. This summary outlines the compensation structure for these executives as of January 1, 2006.

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EX-10.27 16 b57089a4exv10w27.txt EX-10.27 SUMMARY OF EXECUTIVE COMPENSATION EXHIBIT 10.27 ALTUS PHARMACEUTICALS INC. EXECUTIVE OFFICER COMPENSATION INFORMATION The Compensation Committee of the Board of Directors (the "Compensation Committee") of Altus Pharmaceuticals Inc. ("Altus") has approved the 2005 fiscal year cash bonuses and 2006 fiscal year annual base salaries, effective as of January 1, 2006, of Altus' Chief Executive Officer and its four other most highly compensated executive officers who were employed by us as of December 31, 2005 and earned more than $100,000 in salary and bonus for the year ended December 31, 2005 (the "named executive officers").
Name and Position 2005 Base Salary ($) 2006 Base Salary ($) 2005 Bonus ($) 2006 Bonus ($) - ----------------- -------------------- -------------------- -------------- -------------- Sheldon Berkle 400,000 412,000 153,000 (1) President and Chief Executive Officer Don G. Burstyn, Ph.D. 256,875 269,462 25,000 (1) Vice President, Regulatory Affairs and Quality Assurance Robert Gallotto 210,000 240,000 38,000 (1) Vice President, Strategic Planning and Alliance Management Jonathan I. Lieber 206,000 250,000 38,000 (1) Vice President, Chief Financial Officer and Treasurer Alexey L. Margolin, Ph.D. 271,282 286,203 67,000 (1) Chief Scientific Officer
The 2005 fiscal year cash bonuses for Altus' Chief Executive Officer and the named executive officers was determined by the Compensation Committee based upon overall corporate performance together with a subjective assessment by the Compensation Committee of each officer's achievement of previously established performance goals which relate to the officer's areas of responsibility. (1) For the 2006 fiscal year, the named executive officers are eligible to receive a cash bonus of up to 20% of their base salary, except for Altus' Chief Executive Officer, who is eligible to receive a cash bonus of up to 50% of his base salary, upon the achievement of individual performance goals. Further information with respect to the compensation of Altus' named executive officers is set forth in the Registration Statement on Form S-1 (File No. 333-129037).