SUMMARY OF REVISED SALARIES FOR NAMED EXECUTIVE OFFICERS
Exhibit 10.3
SUMMARY OF REVISED SALARIES FOR
NAMED EXECUTIVE OFFICERS
(As of April 21, 2008)
The following summarizes the current salaries received by the Companys Chief Executive Officer and the other officers who are named in the Summary Compensation Table in the proxy statement for the Companys upcoming Annual Meeting of Stockholders (collectively, the Named Executive Officers). These revised salaries were disclosed in the Companys Current Report on Form 8-K filed with the Securities and Exchange Commission on February 25, 2008.
The executive officers of the Company serve at the discretion of the Board of Directors. The Compensation Committee of the Board reviews and determines the salaries that are paid to the Companys executive officers, including the Named Executive Officers. The current salaries of the Named Executive Officers are as follows:
Steven G. Anderson | $ | 619,229 | |
Chairman, President and Chief Executive Officer | |||
D. Ashley Lee | $ | 350,897 | |
Executive Vice President, Chief Operating Officer and Chief Financial Officer | |||
Albert E. Heacox, Ph.D. | $ | 281,589 | |
Senior Vice President, Research and Development | |||
Gerald B. Seery | $ | 275,000 | |
Senior Vice President, Sales and Marketing | |||
David M. Fronk | $ | 254,400 | |
Vice President, Regulatory Affairs and Quality Assurance |