Exhibit 10.27
COMPENSATION OF EXECUTIVE OFFICERS AND DIRECTORS
OPTION GRANTS AND SALARIES OF EXECUTIVE OFFICERS:
During the fiscal year ended September 30, 2006 the following salaries were paid and option grants were approved:
POSITION | SALARY | OPTION SHARES | ||||||
---|---|---|---|---|---|---|---|---|
Peter T. Kissinger, Ph.D | ||||||||
Chairman of the Board and Chief Scientific Officer | $ | 108,368 | .88 | 0 | ||||
Richard M. Shepperd(1) | ||||||||
President and Chief Executive Officer | $ | 420,000 | .00 | 0 | ||||
Ronald E. Shoup, Ph.D | ||||||||
Chief Operating Officer, BASi Contract Research Services | $ | 143,468 | .18 | 0 | ||||
Michael R. Cox | ||||||||
Vice President, Finance; Chief Financial Officer; Treasurer | $ | 153,000 | .00 | 0 | ||||
Edward M. Chait, Ph.D | ||||||||
Executive Vice President & Chief Scientific Officer | $ | 150,000 | .00 | 0 | ||||
Candice B. Kissinger | ||||||||
Senior Vice President, R&D; Secretary and Director | $ | 118,283 | .58 | 0 | ||||
Craig S. Bruntlett, Ph.D | ||||||||
Senior Vice President, Sales Development | $ | 89,460 | .00 | 0 | ||||
Lina L. Reeves-Kerner | ||||||||
Vice President, Human Resources | $ | 96,171 | .80 | 0 |
(1) Mr. Shepperd joined the Company October 1, 2006. He also has a bonus arrangement
whereby he is paid 10% of EBITDA each quarter, to a maximum of $150,000 per quarter.
OPTION GRANTS AND FEES PAID TO DIRECTORS:
The following compensation schedule for Directors was approved:
Annual Retainer: | $ | 0 | |||
Stock Options (three year vesting): | none granted | ||||
Attendance Fee per Meeting: | $ | 2,000 | |||
Audit Committee Chairman (separate retainer): | $ | 500 | |||
Chairman of the Board | non additional compensation | ||||
All other Committee Chairmen: | $ | 500 |