Revance Therapeutics, Inc. 2016 Management Bonus Program

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Revance Therapeutics, Inc. established a 2016 Management Bonus Program to reward executive officers with annual cash bonuses based on the company's achievement of specific corporate goals and individual performance. The program outlines weighted objectives related to clinical development, manufacturing, financial, and compliance milestones. Bonuses are determined by the Compensation Committee and may exceed target amounts if performance surpasses set goals. Payment and amounts are at the committee's discretion.

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EX-10.28 5 rvnc1231201510kex1028.htm EXHIBIT 10.28 Exhibit
Exhibit 10.28

REVANCE THERAPEUTICS, INC.
2016 MANAGEMENT BONUS PROGRAM
On February 9, 2016, the Compensation Committee of the Board of Directors of Revance Therapeutics, Inc. (the “Company”) approved the Company’s 2016 corporate objectives, weighted for purposes of determining bonuses, if any, for the Company’s executive officers with respect to performance for fiscal year 2016 (the “2016 Bonus Program”).
The 2016 Bonus Program is designed to reward, through the payment of annual cash bonuses, the Company’s executive officers for the Company’s performance in meeting key corporate objectives and for individual performance in meeting specified corporate goals for the year.
The Company’s 2016 corporate goals include the achievement of clinical development milestones for RT002 injectable for the treatment of glabellar (frown) lines and movement disorder (45% weighting), achievement of clinical development milestones for RT001 topical for the treatment of lateral canthal (crow’s feet) lines and hyperhidrosis (35% weighting), completion of manufacturing-related objectives (10%), achievement of specified financial (5% weighting) and compliance (5% weighting) objectives.
The cash bonus for all executive officers will be based on the achievement of the 2016 corporate goals (75% weighting) and his or her individual performance goals (25% weighting). The executive officers’ actual bonuses for fiscal year 2016 may exceed 100% of his or her 2016 target bonus percentage in the event performance exceeds the predetermined goals and/or upon the achievement of other specified goals relating to clinical development.
Payment of bonuses to the Company’s executive officers under the 2016 Bonus Program and the actual amount of such bonus, if any, are within the discretion of the Compensation Committee. The actual bonus awarded, if any, may be more or less than each executive’s annual target bonus.