Attached files
file | filename |
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8-K - FORM 8-K - LEXICON PHARMACEUTICALS, INC. | form8_k.htm |
EX-10.2 - LEXICON PHARMACEUTICALS, INC. | exhibit10_2.htm |
Exhibit
10.1
Summary of 2010 Named
Executive Officer Cash Compensation
The
Compensation Committee of our Board of Directors has approved 2010 base salaries
for our named executive officers as set forth below.
The
Compensation Committee has also approved a process for the determination of 2010
cash bonuses for our named executive officers, pursuant to which bonuses, if
any, will be determined in the discretion of the Compensation Committee based on
the achievement of certain corporate goals and individual performance in
2010. The corporate goals include objectives relating to the
development of existing drug candidates, the identification of additional drug
candidates and the achievement of certain financial and business
goals. Achievement of these corporate goals will be evaluated by the
Compensation Committee in making determinations regarding bonuses for 2010
performance. However, the Compensation Committee retains broad
discretion over the amount and payment of cash bonuses and is not bound by any
pre-determined agreement, formula or other standard with respect to such
decisions.
The
Compensation Committee has established a bonus target, expressed as a percentage
of base salary, for each of our named executive officers, assuming full
achievement of corporate goals and a high level of individual
performance. The bonus target percentage for each of our named
executive officers is set forth below.
Name and Position
|
2010
Base Salary
|
2010
Bonus Target
|
||||||
Arthur
T. Sands, M.D., Ph.D.
President
and Chief Executive Officer
|
$ | 580,000 | 50 | % | ||||
Alan
J. Main, Ph.D.
Executive
Vice President of Pharmaceutical Research
|
$ | 350,000 | 35 | % | ||||
Jeffrey
L. Wade, J.D.
Executive
Vice President and General Counsel
|
$ | 365,000 | 35 | % | ||||
Brian
P. Zambrowicz, Ph.D.
Executive
Vice President and Chief Scientific Officer
|
$ | 400,000 | 40 | % | ||||
James
F. Tessmer
Vice
President, Finance and Accounting
|
$ | 235,000 | 25 | % |