2010 and 2011 Executive Officer Compensation Arrangements for Jazz Pharmaceuticals, Inc.
This document outlines the base salaries and target bonus percentages for executive officers of Jazz Pharmaceuticals, Inc. for 2010 and 2011. It lists each executive's position, salary rates effective from March 1 of each year, and target bonuses as a percentage of their annual base salary. The document also notes changes in roles and compensation for certain executives, including new appointments and a resignation with a related separation agreement. The arrangements specify compensation terms but do not include detailed bonus criteria or additional benefits.
EXHIBIT 10.55
2010 and 2011 Executive Officer Compensation Arrangements
Executive Officer | 2010 Base Salary Rate(1) | 2010 Target Bonus as % of Annual Base Salary Rate | 2011 Base Salary Rate(2) | 2011 Target Bonus as % of Annual Base Salary Rate | ||||||||||||
Bruce C. Cozadd | $ | 500,000 | 60 | $ | 575,000 | 65 | ||||||||||
Chairman and Chief Executive Officer | ||||||||||||||||
Russell J. Cox(3)(4) | $ | 260,000 | 20-35 | $ | 325,000 | 40 | ||||||||||
Senior Vice President, Sales and Marketing | ||||||||||||||||
Michael A. DesJardin | $ | 285,000 | 40 | $ | 288,000 | 40 | ||||||||||
Senior Vice President, Product Development | ||||||||||||||||
Mark G. Eller, Ph.D. | $ | 280,000 | 40 | $ | 288,000 | 40 | ||||||||||
Senior Vice President, Research and Clinical Development | ||||||||||||||||
Kathryn E. Falberg | $ | 365,000 | 40 | $ | 380,000 | 40 | ||||||||||
Senior Vice President and Chief Financial Officer | ||||||||||||||||
Carol A. Gamble | $ | 361,000 | 40 | $ | 362,000 | 40 | ||||||||||
Senior Vice President, General Counsel and Corporate Secretary | ||||||||||||||||
Robert M. Myers(5) | $ | 448,000 | 50 | | | |||||||||||
President | ||||||||||||||||
Janne L. T. Wissel | $ | 361,000 | 40 | $ | 362,000 | 40 | ||||||||||
Senior Vice President, Chief Regulatory and Compliance Officer | ||||||||||||||||
Joan E. Colligan | $ | 217,250 | 10-30 | $ | 217,250 | 10-30 | ||||||||||
Controller and Principal Accounting Officer |
(1) | Base salary rate beginning March 1, 2010. |
(2) | Base salary rate beginning March 1, 2011. |
(3) | Mr. Cox joined the company as Vice President of Marketing on July 21, 2010. |
(4) | Mr. Cox became Senior Vice President, Sales and Marketing effective January 7, 2011 and his base salary rate, as of that date until March 1, 2011, was increased to $315,000. |
(5) | Mr. Myers resigned as President effective January 14, 2011. In connection with his resignation, Mr. Myers and the company entered into a separation agreement. |