Seattle Genetics, Inc. Executive Officer and Director Compensation Information for 2010–2011
This document outlines the base salaries, bonus awards, and target bonus percentages for executive officers of Seattle Genetics, Inc. for 2010 and 2011. It also details the cash and equity compensation structure for non-employee members of the company's Board of Directors, including annual retainers and stock grants for board and committee service. The agreement specifies compensation amounts, bonus plans, and equity awards for both executives and directors for the specified years.
Exhibit 10.33
Executive Officer Compensation Information
The following table sets forth the annual base salaries for 2010 and 2011 for the executive officers of Seattle Genetics, Inc. (the “Company”). The table below also sets forth the bonuses awarded to the Company’s executive officers for the 2010 fiscal year under the Company’s 2010 Senior Executive Annual Bonus Plan. The 2011 target bonuses (based on a percentage of base salary) for the Company’s executive officers under the Company’s 2011 Senior Executive Annual Bonus Plan are also set forth in the table below.
| Name and Title | 2010 Base Salary | 2010 Bonus | 2011 Base Salary | 2011 Target Bonus Percentage | ||||||||||||
| Clay B. Siegall, Ph.D. | $ | 630,000 | $ | 472,500 | $ | 660,000 | 60 | % | ||||||||
| Todd E. Simpson | $ | 336,500 | $ | 160,174 | $ | 347,450 | 40 | % | ||||||||
| Eric L. Dobmeier | $ | 387,250 | $ | 195,174 | $ | 402,750 | 40 | % | ||||||||
| Thomas C. Reynolds | $ | 396,350 | $ | 201,346 | $ | 412,250 | 40 | % | ||||||||
| Morris Rosenberg | $ | 327,850 | $ | 138,844 | $ | 339,350 | 35 | % | ||||||||
| Vaughn Himes | $ | 317,800 | $ | 132,364 | $ | 328,150 | 35 | % | ||||||||
| Bruce Seeley | $ | 323,450 | $ | 134,717 | $ | 341,000 | 35 | % | ||||||||
Director Compensation Information
The following table sets forth the compensation components for non-employee members of the Company’s Board of Directors for 2010 and 2011, including equity awards.
Compensation Element
| General Board Service – Cash Retainer | $ | 40,000 | ||
| General Board Service – Equity | ||||
| Initial Grant – Number of Shares | 25,000 | |||
| Annual Grant – Number of Shares | 17,500 | |||
| Chair Service – Annual Retainer | ||||
| Lead Director | $ | 12,000 | ||
| Audit | $ | 20,000 | ||
| Compensation | $ | 12,000 | ||
| Nominating & Governance | $ | 5,000 | ||
| Committee Member Service – Annual Retainer | ||||
| Audit | $ | 10,000 | ||
| Compensation | $ | 6,000 | ||
| Nominating & Governance | $ | 3,000 | ||
