ICAGEN INC - FORM 10-K - EX-10.7 - SUMMARY OF 2010 BONUS TARGETS - March 30, 2010

Attached files

file filename
10-K - FORM 10-K - ICAGEN INCd10k.htm
EX-10.4 - NONSTATUTORY STOCK OPTION AGREEMENT - ICAGEN INCdex104.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION - ICAGEN INCdex311.htm
EX-10.3 - INCENTIVE STOCK OPTION AGREEMENT - ICAGEN INCdex103.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - ICAGEN INCdex322.htm
EX-10.6 - SUMMARY OF DIRECTOR COMPENSATION - ICAGEN INCdex106.htm
EX-10.5 - 2004 STOCK INCENTIVE PLAN - ICAGEN INCdex105.htm
EX-31.2 - SECTION 302 CFO CERTIFICIATION - ICAGEN INCdex312.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - ICAGEN INCdex231.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - ICAGEN INCdex321.htm
EX-10.4.1 - NONSTATUTORY STOCK OPTION AGREEMENT (FOR DIRECTOR OPTIONS) - ICAGEN INCdex1041.htm
EX-10.5.1 - 2004 STOCK INCENTIVE PLAN RESTRICTED STOCK UNIT AGREEMENT - ICAGEN INCdex1051.htm

EXHIBIT 10.7

ICAGEN, INC.

Summary of 2010 Bonus Targets

Executive Officer 2010 Bonus Targets

 

Executive Officer

   

Bonus Targets for 2009

P. Kay Wagoner, Ph.D., Chief Executive Officer and President

    Up to 50% of base salary

Richard D. Katz, M.D., Executive Vice President, Finance and Corporate Development, Chief Financial Officer and Treasurer

    Up to 40% of base salary

Seth V. Hetherington, Senior Vice President, Clinical and Regulatory Affairs

    Up to 40% of base salary

Cash bonuses for Dr. Wagoner, Dr. Katz and Dr. Hetherington for 2010 will be based on the achievement of specified corporate performance objectives. The corporate performance objectives for 2010 are progression of research, preclinical and clinical development programs; building shareholder confidence; achievement of corporate and business development objectives; timely, effective and efficient completion of public company reporting obligations; and completing and maintaining policies and procedures for internal controls and compliance obligations. The actual amount of such cash bonuses, if any, will be determined in the discretion of the Compensation Committee, subject to the maximum bonus targets shown above. The Compensation Committee will evaluate the Company’s and each executive’s performance against the objectives listed above from time to time during 2010, and may, in its discretion, approve the payment of any bonuses in one or more installments during 2010 or in early 2011.

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