Executive Officer Compensation Schedule and Bonus Approvals (2009)
This document outlines the annual base salaries for the company's executive officers as of January 1, 2009, listing each officer's name, title, and salary amount. It also details the approval of discretionary bonuses for these officers for both halves of 2008, as determined by the Compensation Committee of the Board of Directors. Additionally, it notes that Dr. Lopez received a bonus under the 2008 Performance-Based Incentive Plan. The specific bonus amounts are referenced in previously filed SEC reports.
Exhibit 10.23
Executive Officer Compensation
The annual base salaries for our executive officers as of January 1, 2009 are as follows:
| Name |
| Title |
| Annual Base Salary |
| |
| George A. Lopez, M.D. |
| Chairman of the Board, President and Chief Executive Officer |
| $ | 500,000 |
|
| Alison D. Burcar |
| Vice President of Marketing |
| $ | 195,000 |
|
| Richard A. Costello |
| Vice President of Sales |
| $ | 260,000 |
|
| Scott E. Lamb |
| Chief Financial Officer |
| $ | 250,000 |
|
| Steven C. Riggs |
| Vice President of Operations |
| $ | 260,000 |
|
2008 Discretionary Bonuses:
In July 2008, the Compensation Committee of the Board of Directors approved payment of discretionary bonuses to the above named officers for the first half of 2008, and in January 2009, the Compensation Committee approved discretionary bonuses to each of the above named officers for the second half of 2008. In addition, Dr. Lopez was awarded a bonus by the Compensation Committee in January 2009, consistent with the terms of the 2008 Performance-Based Incentive Plan. The amount of the bonuses for the first half of 2008 were previously reported in the Current Report on Form 8-K filed with the SEC on July 24, 2008, and the amount of the bonuses for the second half of 2008, excluding Ms. Burcar, were previously reported in the Current Report on Form 8-K filed with the SEC on February 5, 2009, each of which reports are incorporated herein by reference.
