2011 Equity Incentive Plan

EX-10.1 2 a58900exv10w1.htm EX-10.1 exv10w1
Exhibit 10.1
2011 Equity Incentive Plan
The 2011 Equity Incentive Plan provides for the issuance of equity incentive awards in the form of (i) non-qualified stock options; and (ii) performance-based restricted stock units.
    Restricted Stock Units   Non-Qualified Stock
Executive Officer   (# shares)   Options (# shares)
Douglas C. Bryant
President and Chief Executive Officer
    28,639       85,918  
Robert J. Bujarski
Senior Vice President, Business Development and General Counsel
    10,000       30,000  
Scot M. McLeod
Senior Vice President, Operations
    8,333       20,000  
John M. Radak
Chief Financial Officer
    8,333       20,000  
David Scholl
Senior Vice President, Commercial Operations
    8,333       25,000  
Timothy T. Stenzel
Chief Scientific Officer
    10,000       30,000  
John D. Tamerius
Senior Vice President, Clinical and Regulatory Affairs
    8,333       25,000  
The vesting period for the non-qualified stock options is four years with the first 50% of such stock options vesting at the end of the second-year anniversary of the grant date and the remainder vesting 25% annually thereafter. Vesting for the performance-based restricted stock units has a three-year cliff and is tied to achievement of a performance metric of compounded annual growth rate in earnings-per-share (EPS) in 2013 compared to a baseline EPS determined by the Compensation Committee for 2010. In addition, in the event that the Company achieves certain elevated performance metrics prior to the end of the three-year vesting period (defined by the Compensation Committee with pre-determined elevated EPS targets in either 2011 or 2012), the performance-base restricted stock units will be deemed to have met the performance requirements and will convert to time-based vesting for the remainder of the three-year term.