Attached files
file | filename |
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EX-21.1 - EX-21.1 - SYNOVIS LIFE TECHNOLOGIES INC | c55201exv21w1.htm |
EX-31.1 - EX-31.1 - SYNOVIS LIFE TECHNOLOGIES INC | c55201exv31w1.htm |
EX-32.1 - EX-32.1 - SYNOVIS LIFE TECHNOLOGIES INC | c55201exv32w1.htm |
EX-23.1 - EX-23.1 - SYNOVIS LIFE TECHNOLOGIES INC | c55201exv23w1.htm |
EX-10.16 - EX-10.16 - SYNOVIS LIFE TECHNOLOGIES INC | c55201exv10w16.htm |
EX-10.10 - EX-10.10 - SYNOVIS LIFE TECHNOLOGIES INC | c55201exv10w10.htm |
10-K - FORM 10-K - SYNOVIS LIFE TECHNOLOGIES INC | c55201e10vk.htm |
EX-31.2 - EX-31.2 - SYNOVIS LIFE TECHNOLOGIES INC | c55201exv31w2.htm |
Exhibit 10.11
Summary of Fiscal 2010 Named Executive Officer Compensation
Set forth below is a summary of fiscal 2010 compensation arrangements between Synovis Life
Technologies, Inc. (the Company) and certain of its executive officers who are expected to
constitute the Companys named executive officers (defined in Regulation S-K Item 402(a)(3)) for
fiscal 2010. All of the Companys executive officers are at-will employees whose compensation and
employment status may be changed at any time in the discretion of the Companys Board of Directors,
subject only to the terms of the Management Change in Control Agreements between the Company and
these executive officers (the forms of which have been filed or incorporated by reference as
exhibits to the Companys annual report on Form 10-K).
Base Salary
Effective November 1, 2009, the following executive officers are scheduled to receive the following
annual base salaries in their current positions:
Name and Current Position | Base Salary | |||
Richard W. Kramp |
$ | 375,032 | ||
(President and Chief Executive Officer) |
||||
David A. Buché |
$ | 232,875 | ||
(Vice President and Chief Operating Officer of
Synovis Surgical Innovations) |
||||
Brett A. Reynolds |
$ | 215,721 | ||
(Vice President of Finance and Chief Financial Officer) |
||||
Mary L. Frick |
$ | 196,596 | ||
(Vice President of Regulatory Affairs, Clinical Affairs and Quality) |
||||
Timothy M. Floeder |
$ | 192,920 | ||
(Vice President of Corporate Development) |
Annual Cash Incentive Compensation
For fiscal 2010, the Companys named executive officers are eligible to receive annual cash
incentive compensation up to 5% of their base salary based upon an evaluation by the Companys
Compensation Committee of the Board of Directors of the individual executive officers performance
and achievement of specific individual objectives during the period. For fiscal 2010, the
Compensation Committee also established an incentive cash compensation program based upon
achievement of Company financial performance goals. Additional cash incentive compensation may be
awarded at the discretion of the Compensation Committee for performance or achievement above
individual goals.
Stock Options
On November 2, 2009, non-qualified stock options to purchase shares of the Companys common stock,
at an exercise price of $12.00 per share (the closing price of a share of the Companys
common stock on the date of the grant), were awarded to each of the following executive officer
under the Companys 2006 Stock Incentive Plan as follows:
Name | Options Granted | |||
Richard W. Kramp |
90,000 | |||
David A. Buché |
24,000 | |||
Brett A. Reynolds |
21,000 | |||
Mary L. Frick |
18,000 | |||
Timothy M. Floeder |
18,000 |
Such options vest in increments of one-third on October 31, 2010, 2011 and 2012, respectively, and
expire four years following the vest date.
Benefits
The Company provides medical, dental and life and disability insurance benefits as well as a 401(k)
retirement plan and a stock purchase plan to its executive officers. The same benefits are
available to all Company employees.