NeuroMetrix, Inc. 2006 Executive Officer Bonus Compensation Arrangements
NeuroMetrix, Inc. has set target cash bonuses for its executive officers for 2006, as determined by the Compensation Committee of its Board of Directors. The bonuses, expressed as a percentage of each officer's base salary, will be awarded based on the achievement of specific individual and company goals. The arrangement covers the Chairman/CEO, COO, CFO, and two Senior Vice Presidents, with target bonuses ranging from 25% to 50% of base salary. Final bonus awards will depend on the Compensation Committee's assessment of performance against these goals.
EXHIBIT 10.1
Executive Officer Compensation Arrangements (2006 Bonus)
On September 7, 2006, the Compensation Committee of the Board of Directors of NeuroMetrix, Inc. (the “Company”) determined the following compensation information for certain executive officers of the Company regarding target cash bonuses for 2006. This compensation information is as follows:
| Name |
| Title |
| 2006 Target Bonus |
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| Shai N. Gozani, M.D., Ph.D. |
| Chairman, President and Chief Executive Officer |
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| $ | 131,250 (50%) |
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| Gary Gregory |
| Chief Operating Officer |
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| $ | 123,375 (50%) |
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| W. Bradford Smith |
| Chief Financial Officer |
|
| $ | 69,300 (30%) |
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| Guy Daniello |
| Senior Vice President of Information Technology |
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| $ | 47,545 (25%) |
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| Michael Williams |
| Senior Vice President of Engineering |
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| $ | 49,612 (25%) |
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(1) The award of cash bonuses in 2006 will be determined by the Compensation Committee based on the executive officer’s and the Company’s achievement of a number of objective and subjective goals specifically established for each executive officer by the Compensation Committee.
