Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
2019 Cash Bonus Payments
At the Compensation Meeting, the Committee authorized and approved non-equity
incentive plan compensation with respect to performance in 2019 in the form of
cash bonus payments to certain of the Company's employees, including named
executive officers identified in the Company's prospectus dated
The following table sets forth the specific cash bonus payments to these named executive officers. Non-Equity Incentive Plan Compensation Total
Named Executive Officers ($) ($) Chad Robins 385,950 2,856,181 Harlan Robins, PhD 237,500 2,647,022
The Committee, in its sole discretion, authorized and approved the cash bonuses for fiscal year 2019 for both of these named executive officers. Bonuses were determined based upon: (a) corporate goals set by the Committee deemed appropriate given the performance of the Company, including revenue achievements and milestone achievements related to long-term projects, (b) the individual's base salary, and (c) the individual's bonus target rate.
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