Attached files
| file | filename |
|---|---|
| 10-Q - GENEREX BIOTECHNOLOGY CORP | v188009_10q.htm |
| EX-32 - GENEREX BIOTECHNOLOGY CORP | v188009_ex32.htm |
| EX-10.5 - GENEREX BIOTECHNOLOGY CORP | v188009_ex10-5.htm |
| EX-31.1 - GENEREX BIOTECHNOLOGY CORP | v188009_ex31-1.htm |
| EX-31.2 - GENEREX BIOTECHNOLOGY CORP | v188009_ex31-2.htm |
| EX-10.6 - GENEREX BIOTECHNOLOGY CORP | v188009_ex10-6.htm |
| EX-10.2 - GENEREX BIOTECHNOLOGY CORP | v188009_ex10-2.htm |
| EX-10.3 - GENEREX BIOTECHNOLOGY CORP | v188009_ex10-3.htm |
| EX-10.4 - GENEREX BIOTECHNOLOGY CORP | v188009_ex10-4.htm |
| EX-10.7 - GENEREX BIOTECHNOLOGY CORP | v188009_ex10-7.htm |
Exhibit
10.1
Summary
of Compensation Arrangements with Executive Officers and Directors
as
of March 8, 2010
On March
8, 2010, the Board of Directors of Generex Biotechnology Corporation (the
“Company”) unanimously approved the recommendations of the Compensation
Committee as to the following compensatory arrangements with respect to the
Company’s named executive officers and directors.
Base Salary
Increase
The base
salary of one named executive office was increased as follows:
|
Named Executive Officer
|
2010 Increase
|
2010 Base Salary
(retroactive to January 1, 2010)
|
||||||
|
Mark
Fletcher
Executive
Vice President
and
General Counsel
|
3.1746 | % | $ | 325,000 | ||||
Special Performance
Bonus
Mr.
Fletcher was also awarded a one-time cash bonus based on his individual
performance and contributions during the 2009 calendar year in the amount of
$225,000, which amount is payable on or before April 30, 2010.
Long-term Equity
Incentives
The named
executive officers and non-employee directors received long-term equity
incentives in the form of options to purchase shares of the Company’s common
stock as follows.
|
Named Executive Officer
|
Aggregate Number of Underlying Shares
|
|||
|
Anna
E. Gluskin
President
and Chief Executive Officer
|
500,000 | |||
|
Rose
C. Perri
Chief
Operating Officer,
Chief
Financial Officer,
Treasurer
Secretary and Director
|
400,000 | |||
|
Mark
Fletcher
Executive
Vice President
and
General Counsel
|
300,000 | |||
|
Brian
McGee
Director
|
100,000 | |||
|
John
P. Barratt
Director
|
100,000 | |||
|
Nola
Masterson
Director
|
100,000 | |||
The
options have a ten-year term, subject to truncation upon cessation of employment
as specified in the Amended and Restated Generex Biotechnology Corporation 2006
Stock Plan. The exercise price is $0.64 per share, which reflects the
NASDAQ Official Close Price of the Company’s common stock on the NASDAQ Capital
Market on the date of grant, March 8, 2010. Approximately 33 1/3% of
the shares underlying each option grant was vested as of the date of grant with
the remaining shares vesting ratably on each of August 1, 2010 and August 1,
2011. The Company and each optionee have entered into a written stock
option agreement.