VioQuest Pharmaceuticals, Inc. Summary of 2006 Management Bonus Plans
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Human Resources
- Bonus & Incentive Agreements
EX-10.1 2 v044219_ex10-1.htm Unassociated Document
Exhibit 10.1
VioQuest Pharmaceuticals, Inc.
Summary of 2006 Management Bonus Plans
Daniel Greenleaf
President & Chief Executive Officer
| Milestone | Bonus Amount | |||
| Completion of financings resulting in gross proceeds of a targeted amount | $ | 50,000 | ||
| Listing of common stock on national exchange or Nasdaq | 50,000 | |||
| Initiation of 3 clinical trials in the U.S. of Company product candidates under Company-sponsored INDs | 30,000 | |||
| Completion of 3 clinical trials in the U.S. of Company product candidates under Company-sponsored INDs | 30,000 | |||
| Acquisition of new compound, as approved by the Board | 30,000 | |||
| Chiral Quest net loss less than a targeted amount and revenues in excess of a targeted amount | 20,000 | |||
| Acceptance of NDA filing for review for leishmaniasis indication for VQD-001 | 15,000 | |||
| Qualitative factors based on leadership, teamwork, peer interaction, initiative and communication | 25,000 | |||
| TOTAL MAXIMUM ELIGIBLE BONUS | $ | 250,000 | ||
Michael Cannarsa, Ph.D.
General Manager, Chiral Quest Inc.
| Milestone | Bonus Amount | |||
| 2006 Chiral Quest net loss less than a targeted amount | $ | 18,000 | ||
| 2006 Chiral Quest revenue at least at a targeted amount and margin equal to or greater than a targeted percentage | 18,000 | |||
| Completion of targeted number of strategic transactions | 7,200 | |||
| Qualitative factors based on leadership, teamwork, peer interaction, initiative and communication | 4,800 | |||
| TOTAL MAXIMUM ELIGIBLE BONUS | $ | 48,000 | ||
Pamela Jo Harris, M.D.
| Milestone | Bonus Amount | |||
| Initiation of Phase I in VQD-001 | $ | 1,875 | ||
| Completion of Phase I in VQD-001 | 4,375 | |||
| Initiation of Phase I in VQD-002 for solid tumors | 1,875 | |||
| Completion of Phase I in VQD-002 for solid tumors | 4,375 | |||
| Initiation of Phase I in VQD-002 for hematological malignancies | 1,875 | |||
| Completion of Phase I in VQD-002 for hematological malignancies | 4,375 | |||
| NDA filing for VQD-001 for leishmaniasis indication | 3,750 | |||
| Qualitative factors based on leadership, teamwork, peer interaction, initiative and communication | 2,500 | |||
| TOTAL MAXIMUM ELIGIBLE BONUS | $ | 25,000 | ||
Brian Lenz
Chief Financial Officer
| Milestone | Bonus Amount | |||
| Completion of financings resulting in gross proceeds of a targeted amount | $ | 13,500 | ||
| Initiation of 3 clinical trials | 3,825 | |||
| Completion of non-dilutive financings resulting in proceeds of at least targeted amounts | 5,625 | |||
| Listing of common stock on national exchange or Nasdaq | 9,675 | |||
| Chiral Quest net loss less than a targeted amount | 7,875 | |||
| Qualitative factors based on leadership, teamwork, peer interaction, initiative and communication | 4,500 | |||
| TOTAL MAXIMUM ELIGIBLE BONUS | $ | 45,000 | ||
Richard Welter, Ph.D.
Vice President of Corporate Business Development
| Milestone | Bonus Amount | |||
| Company’s acquisition of clinical compound, as approved by the Board (reduced by half if compound is pre-clinical) | $ | 25,000 | ||
| Initiation of 3 clinical trials | 5,000 | |||
| Completion of 3 patient enrollment trials | 5,000 | |||
| Acceptance of NDA filing for review for leishmaniasis indication for VQD-001 | 10,000 | |||
| Qualitative factors based on leadership, teamwork, peer interaction, initiative and communication | 5,000 | |||
| TOTAL MAXIMUM ELIGIBLE BONUS | $ | 50,000 | ||
