Attached files
Exhibit 10.42
2009 Base Salaries for Named Executive Officers
The Compensation Committee of the Board of Directors (the Committee) annually sets forth compensation levels and equity awards for the Companys executive officers using the following process: after reviewing the data set forth in a compensation survey provided by Radford Surveys + Consulting, a global life sciences and technology industry compensation consulting firm, the Committee determines on an annual basis for each executive officer, (1) a target annual compensation package, (2) the appropriate allocation of the total compensation package between base salary, short-term performance based compensation and long-term equity incentive compensation, and (3) whether there should be any changes to the compensation packages to better align our executive officers interests with those of our stockholders. Adjustments to the base salary of our executive officers is determined by the Committee in February of each year, with the adjustments becoming effective March 1st. For 2009, the Committee approved the salaries listed below for each of the Companys named executive officers.
Named Executive Officer |
Base Salary for 2009 | |
Claes Glassell President and Chief Executive Officer |
$490,000 | |
Kevin D. Green Vice President, Finance and Chief Accounting Officer |
$220,000 | |
Laurence M. Corash, M.D. Senior Vice President and Chief Medical Officer |
$375,000 | |
William M. Greenman Senior Vice President, Business Development and Marketing |
$312,000 | |
Howard G. Ervin Vice President, Legal Affairs |
$311,531 |