AMDL, Inc. Completes Revision of Performance & Equity Incentive Compensation Plan
January 08 2009 - 9:30AM
PR Newswire (US)
TUSTIN, Calif., Jan. 8 /PRNewswire-FirstCall/ -- AMDL, Inc. (NYSE
Alternext US: ADL), a vertically integrated pharmaceutical company
with operations in China and the U.S., announced today it has
revised its 2009 Performance and Equity Incentive Compensation Plan
for senior management and employees. Under the terms of the Plan,
AMDL has transitioned from a "discretionary cash and options-based
bonus plan" to a performance-based, stock and cash incentive plan.
Incentives are based on successfully achieving financial targets
established by AMDL's Board of Directors. Plan highlights include:
-- Performance based incentive awards -- Board-determined quarterly
income performance targets -- Limited cash bonus awards --
Reaffirmation of AMDL's commitment to not issue discretionary
incentive awards According to Mr. Michael Boswell, independent
board member and Chairman of AMDL's Compensation and Audit
Committees, "We have made a deliberate decision to establish a more
structured compensation plan that directly links our executive and
employee compensation to Company performance. In establishing this
new plan, we are creating stronger alignment between the interests
of our management team, employees, and investors. We feel the
modifications made support AMDL's long-term success." Under AMDL's
2009 Performance and Equity Incentive Compensation Plan, all stock
granted to senior executives and employees as incentive
compensation will be scheduled to vest only if the Company's meets
its strategic goals and specific financial performance targets.
AMDL's Board of Directors and Compensation Committee have reviewed
and approved the performance targets and Plan outlined above.
Detailed information on this revised Plan can be found in AMDL's
Form 8-K filed with the Securities and Exchange Commission. About
AMDL: Headquartered in Tustin, CA with operations in Shenzhen,
Jiangxi, and Jilin, China, AMDL, Inc., along with its subsidiary
Jade Pharmaceutical Inc. (JPI), is a vertically integrated
pharmaceutical company devoted to the research, development,
manufacturing, and marketing of diagnostic, pharmaceutical,
nutritional supplement, and cosmetic products. The company employs
over 490 people in the U.S. and China. Forward Looking Statements:
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained in this document
include certain predictions and projections that may be considered
forward-looking statements under securities law. These statements
involve a number of important risks and uncertainties that could
cause actual results to differ materially including, but not
limited to, the performance of joint venture partners, as well as
other economic, competitive and technological factors involving the
Company's operations, markets, services, products, and prices. With
respect to AMDL, Inc., except for the historical information
contained herein, the matters discussed in this document are
forward-looking statements involving risks and uncertainties that
could cause actual results to differ materially from those in such
forward-looking statements. AMDL Contact: Kristine Szarkowitz
Director-Investor Relations (Tel :) 206. 310.5323 DATASOURCE: AMDL,
Inc. CONTACT: Kristine Szarkowitz, Director-Investor Relations of
AMDL, Inc., +1-206-310-5323,
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