2006 Base Salaries and 2005 Bonuses for Named Executive Officers of Onyx
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Summary
This document lists the 2006 base salaries and 2005 bonuses for key executives at Onyx, including the Chairman, President, and other senior officers. It also notes a separation agreement with Dr. Leonard E. Post, who resigned effective January 15, 2006, and will receive a severance payment equal to one year of his 2005 salary. The agreement outlines compensation details but does not impose ongoing obligations beyond the specified payments.
EX-10.48 2 f18244exv10w48.htm EXHIBIT 10.48 exv10w48
EXHIBIT 10.48
2006 Base Salaries and Fiscal Year 2005 Bonuses for Named Executive Officers
| Name and Title | Salary | Bonus | ||||||
Hollings C. Renton Chairman of the Board, President and Chief Executive Officer | $ | 525,000 | $ | 250,000 | ||||
Edward F. Kenney Executive Vice President and Chief Business Officer | $ | 360,000 | $ | 130,000 | ||||
Leonard E. Post, Ph.D. Former Senior Vice President, Research and Development1 | N/A | 2 | $ | 120,000 | ||||
Fabio M. Benedetti, M.D. Vice President, Medical Affairs | $ | 295,000 | $ | 100,000 | ||||
Scott M. Freeman, M.D. Vice President, Clinical Development | $ | 278,000 | $ | 95,000 | ||||
| 1 | On December 5, 2005, Onyx entered into a separation agreement with Dr. Post whereby Dr. Post resigned as an employee and officer of Onyx effective January 15, 2006. | |
| 2 | As severance, Onyx has agreed to pay Dr. Post the equivalent of 12 months of his 2005 base salary, $315,000, less standard withholdings and deductions. |
