Description of Compensation Arrangement for Named Executive Officers of Progenics Pharmaceuticals, Inc.
This document outlines the 2005 annual salaries and 2004 cash bonuses for the named executive officers of Progenics Pharmaceuticals, Inc., as approved by the company's Compensation Committee. The officers listed include the CEO, Senior Vice President of Medical Affairs, CFO, and President. The agreement specifies each officer's title, salary for 2005, and the cash bonus awarded for 2004. It also notes the resignation of the President, effective March 25, 2005.
Exhibit 10.27
Description of Compensation Arrangement with respect to Named Executive Officers
The following sets forth the annual rate at which the specified named executive officers (as defined in Regulation S-K Item 402(a)(3)) will be paid in 2005 and the cash bonus each was awarded for the fiscal year 2004 as approved by the Compensation Committee of the Board of Directors of Progenics Pharmaceuticals, Inc.
| Name | Title | 2005 Salary | Cash Bonus |
| Paul J. Maddon, M.D., Ph.D. | Chief Executive Officer and Chief Science Officer | $536,785 | $150,000 |
| Robert J. Israel, M.D. | Senior Vice President, Medical Affairs | 312,000 | 50,000 |
| Robert A. McKinney | Chief Financial Officer, Vice President, Finance and Operations and Treasurer | 230,000 | 60,000 |
| Ronald J. Prentki(1) | President and Director | 385,650 | 75,000 |
(1) Mr. Prentki notified the Registrant of his resignation, effective March 25, 2005, as President of the Registrant.
