Kosan Biosciences 2005-2006 Executive Compensation Summary for Named Officers
This document outlines the compensation details for Kosan Biosciences Incorporated's named executive officers for 2005 and 2006. It lists each officer's 2005 cash bonus, stock option grants awarded in December 2005, 2006 annual base salary, and 2006 target cash bonus as a percentage of salary. The information was approved by the company's Compensation Committee and applies to the CEO, Executive Vice President, CFO, and General Counsel. The stock options were granted at the market price as of December 1, 2005.
Exhibit 10.37
COMPENSATION INFORMATION FOR NAMED EXECUTIVE OFFICERS
The table below provides information regarding the 2005 cash bonus, December 2, 2005 stock option grant, 2006 annual base salary and 2006 target cash bonus of each named executive officer of Kosan Biosciences Incorporated listed below.
| Executive Officer | 2005 Cash Bonus | Stock Option (# shares) | 2006 Annual Base Salary | 2006 Target Cash Bonus** | |||||||
| Daniel V. Santi, M.D., Ph.D., Chief Executive Officer | $ | 105,000 | 78,750 | $ | 445,000 | 45 | % | ||||
| Robert Johnson Jr., M.D., Ph.D., Executive Vice President, Development and Chief Medical Officer | $ | 75,000 | 52,500 | $ | 365,000 | 30 | % | ||||
| Susan M. Kanaya, Senior Vice President, Finance and Chief Financial Officer | $ | 57,000 | 37,500 | $ | 305,000 | 30 | % | ||||
| Margaret A. Horn Senior Vice President and General Counsel | N/A | 150,000 | $ | 300,000 | 30 | % | |||||
| * | Granted by the Compensation Committee of the Board of Directors of the Company on December 2, 2005, with an exercise price per share equal to the closing price as reported on the Nasdaq National Market on December 1, 2005. |
| ** | Percentage of each named executive officer’s 2006 annual base salary. |
