Marketing Rights

Contract Categories: Business Operations - Marketing Agreements
EX-10.44 9 a28383exv10w44.htm EXHIBIT 10.44 exv10w44
 

EXHIBIT 10.44
Summary of 2007 Bonus Award Program
The bonus award program provides that the Company must meet at least 50% of its overall corporate goals for the year (as determined by our Board of Directors) for any bonus compensation to be paid and that executive officers and employees must be rated as an “Achieves expected levels of performance” or higher in their annual performance review in order to be eligible for a bonus payout. The ratings and bonus opportunity as a percentage of base salary for the executive officers are listed in the table below.
                             
    Achieves   Exceeds   Consistently   Significantly
    Expected   Expected   Exceeds   Exceeds
    Levels of   Levels of   Expected Levels   Expected Levels
Performance Ratings   Performance   Performance   of Performance   of Performance
 
VP (Executive Officer), Chief Financial Officer
  20%     25 %     30 %     35 %
 
                           
Chief Scientific Officer
  25%     30 %     35 %     40 %
 
                           
Chief Executive Officer
  30%     35 %     45 %     50 %
For the 2007 bonus plan, our Board of Directors has established certain strategic and financial objectives for the Company, directed at progressing certain of our kinase inhibitor research programs towards clinical development, entering into a significant strategic transaction and achieving specific financial objectives. The goals for bonuses have been established so that target attainment is not assured and attainment will require a high level of persistence, effort and execution on the part of our executive officers. Even if the requisite strategic and financial objectives are satisfied, our Compensation Committee has full discretion to determine the actual amount, if any, of the bonus awarded to any individual under our bonus award program.

4