Mr. De Paolantonio was awarded a cash bonus for 2018 in the amount of $162,800, which
is 110% of his target bonus of 40% of his base salary in 2018, a calculation consistent with our cash bonus policy.
Individual Compensation of Scott Plesha, our President and Chief Commercial Officer
Mr. Plesha, who joined our Company in
August 2015 and promoted to President in January 2018, received a base salary of $365,000 in 2018.
Mr. Plesha was awarded a cash
bonus for 2018 in the amount of $180,675, which is 110% of his target bonus of 40% of his base salary in 2018, a calculation consistent with our cash bonus policy. Mr. Plesha was also granted in January 2019, 245,000 stock options and 40,000
RSUs, which are subject to time-based vesting.
Individual Compensation of Dr. Thomas Smith, our Chief
Medical Officer
Dr. Smith, who joined our Company in July 2018, received a base salary of $345,000 in 2018.
Dr. Smith was awarded a cash bonus for 2018 in the amount of $50,094, which is 110% of his target bonus of 40% of his base salary in
2018, after further adjustment for time served during 2018, a calculation consistent with our cash bonus policy. Dr. Smith was also granted in January 2019, 130,000 stock options and 23,000 RSUs, which are subject to time-based vesting.
Individual Compensation of James Vollins, our General Counsel, Chief Compliance Officer and Corporate Secretary
Mr. Vollins, who joined our Company in November 2018, received a base salary of $310,000 in 2018.
Mr. Vollins target bonus is 40% of his base salary in 2018, a calculation consistent with our cash bonus policy. Mr. Vollins
was also granted in January 2019, 65,000 stock options and 11,500 RSUs, which are subject to time-based vesting.
Appointment of Chief
Financial Officer
Ms. Coelho joined our Company in January 2019 and receives a base salary of $385,000. Ms. Coelhos
target bonus is 45% of her base salary for 2019, a calculation consistent with our cash bonus policy.
De
Paolantonio Retirement Agreement
On January 23, 2019, we entered into a Transitional Service and Separation Agreement (the
Separation Agreement) with Mr. De Paolantonio, our former Chief Financial Officer and Treasurer. Mr. De Paolantonio retired on April 30, 2019 (the Retirement Date).
The Separation Agreement provided for, among other things, Mr. De Paolantonio to (i) continue to receive his current base salary
through the Retirement Date, (ii) remain eligible to participate in our group employee benefit plans as a regular full-time employee until his Retirement Date, and (iii) continue to vest in his outstanding equity awards until his
Retirement Date. At the termination of his employment with us, Mr. De Paolantonio received (a) a
one-time
cash payment of $0.36 million, subject to applicable deductions and withholdings, which
represented one full year of his current base salary, (b) his target annual incentive compensation for 2018, and (c) a monthly cash payment for three months in an amount equal to the actual costs of continuation of Mr. De
Paolantonios group health and dental insurance under the Consolidated Omnibus Reconciliation Act of 1985.
Additionally, the option
exercise period for the vested incentive stock options granted to Mr. De Paolantonio on October 1, 2013 was extended through the remainder of the option period which ends on October 17, 2023. All time-based restricted stock units held
by Mr. De Paolantonio that would have vested had Mr. De Paolantonio remained employed by us through December 31, 2020 were deemed vested as of the Retirement Date, and all time-based restricted stock units held by Mr. De
Paolantonio that by their terms vest after December 31, 2020 were forfeited as of the Retirement Date. All performance-based restricted stock units remained outstanding and eligible to vest with respect to our performance through
December 31, 2020 and any performance-based restricted stock units that do not vest based upon performance through December 31, 2020 shall be forfeited.
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