Genoptix, Inc. 2007 Annual Executive Bonus Plan
Genoptix, Inc. established an annual executive bonus plan for 2007, approved by its Compensation Committee. The plan sets target cash bonuses for the CEO, COO, and CFO, based on a percentage of their base salaries (40%, 30%, and 25% respectively). The Committee has discretion to award bonuses ranging from 0 to 150% of these targets, depending on each executive's individual performance and the company's achievement of its 2007 revenue and profitability goals.
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Exhibit 10.7
Genoptix, Inc.
2007 Annual Executive Bonus Plan
The Compensation Committee (the "Committee") of the Board of Directors (the "Board") of Genoptix, Inc. (the "Company") approved incentive cash compensation for the Company's executive officers pursuant to an annual incentive cash compensation program. The program provides for an annual incentive cash compensation target equal to a percentage of each executive's base salaries as follows:
| Executive | Target Bonus Percentage | ||
|---|---|---|---|
| Dr. Tina S. Nova, CEO | 40 | % | |
| Samuel D. Riccitelli, COO | 30 | % | |
| Douglas A. Schuling, CFO | 25 | % |
Under the program, the Committee has the discretion to approve a bonus for each executive officer that will be equal to an amount from 0 to 150% of the applicable target amount. In making its decisions, the Committee assesses the level of individual performance of the executive officer and the Company's performance against its operating plan for 2007, including achievement of revenue and profitability objectives set forth therein.
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- Exhibit 10.7
