Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(e) On October 10, 2020, the Compensation Committee of the Board of Directors
(the "Compensation Committee") of Albireo Pharma, Inc. (the "Company") approved
the grant of two contingent cash incentive awards of $100,000 to Martha Carter,
Chief Regulatory Officer of the Company, and Patrick T. Horn, M.D., Ph.D., Chief
Medical Officer of the Company. Ms. Carter and Dr. Horn will each receive (1)
$50,000 if the Company submits to the Food and Drug Administration ("FDA") or
the European Medicines Agency ("EMA"), whichever comes first, an application for
approval of the Company's product candidate, odevixibat, in patients with
progressive familial intrahepatic cholestasis by a specified date, and (2) an
additional $50,000 if such application is approved by the FDA or the EMA,
whichever comes first, prior to a specified date, in each case subject to Ms.
Carter and Dr. Horn remaining employed and in good standing by the Company at
the time of payment.
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