Executive Officer Compensation Arrangements as of March 1, 2005
This document outlines the annual salaries for the company's named executive officers as of March 1, 2005, including the President, Chief Executive Officer, Chief Financial Officer, and other key executives. It also states that bonuses may be awarded at the discretion of the Compensation Committee, with no predetermined targets. The agreement covers both named and other executive officers, specifying that compensation is based on position and role within the company.
EXHIBIT 10.17
COMPENSATION ARRANGEMENTS WITH NAMED EXECUTIVE OFFICERS
The following are the annual salaries of our named executive officers as of March 1, 2005.
| Name |
| Position |
| Salary | ||
| |
| |
| | ||
| Kenneth G. Chahine, J.D., Ph.D. |
| President, Chief Executive Officer and Director |
| $ | 376,550 | |
| Thomas J. Paulson |
| Vice President, Finance, Chief Financial Officer and Secretary |
| $ | 260,441 | |
| Glenn Pierce, Ph.D., M.D. |
| Vice President, Research and Clinical Development |
| $ | 242,179 | |
| Dawn McGuire, M.D. |
| Chief Medical Officer |
| $ | 243,950 | |
| Kirk Johnson, Ph.D. |
| Vice President, Preclinical Research |
| $ | 219,625 | |
In addition to these named executive officers, we have three other executive officers who receive base salaries in amount commensurate to their position and role with the Company.
Bonuses are paid to executive officers based on subjective determinations by the Compensation Committee of amounts warranted. There are no target bonus amounts set.
