2008 CEO Compensation Approval for Caren L. Mason by Quidel Corporation
Quidel Corporation's board of directors approved compensation changes for Caren L. Mason, its President and CEO, effective March 3, 2008. Ms. Mason's annual base salary was increased by 3% to $482,040. She was also awarded a $163,800 cash bonus under the company's 2007 short-term incentive plan and a $480,000 payment under the long-term incentive bonus program, as outlined in her employment agreement. The long-term bonus covers performance from January 1, 2005, to December 31, 2007.
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Exhibit 10.3
2008 CEO COMPENSATION
On February 27, 2008, the board of directors of Quidel Corporation (the "Company"), upon the recommendation of its compensation committee, approved the following compensation matters for Caren L. Mason, the Company's President and Chief Executive Officer: (i) a three percent increase in Ms. Mason's annual base salary from $468,000 to $482,040, effective March 3, 2008; (ii) payout of a cash bonus of $163,800 per the terms of the Company's 2007 short-term cash incentive plan; and (iii) payout of $480,000 per the terms of the long-term incentive bonus program ("LTIB") under Ms. Mason's employment agreement with the Company. Pursuant to the terms of Ms. Mason's employment agreement, the LTIB provides for a cash performance bonus to be paid at the end of the three-year cycle, commencing on January 1, 2005 and ending on December 31, 2007.
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- Exhibit 10.3
