TPTX » Topics » Discretionary Annual Cash Bonus.

This excerpt taken from the TPTX DEF 14A filed Apr 24, 2008.
Discretionary Annual Cash Bonus.    Discretionary annual cash bonuses are a means of rewarding individuals based on achievement of annual corporate and individual goals. The Compensation Committee has the authority to award discretionary annual cash bonuses to our executives. Each of our executives has an annual cash bonus target ranging from 20% to 40% of base salary for 2007 depending on such executive’s responsibilities. At the beginning of 2007 the Compensation Committee met with our management team to specify a limited number of key corporate goals for the year. These goals were then weighted to reflect their importance in determining overall corporate performance. At the end of 2007 the Compensation Committee reviewed corporate performance and determined whether the particular goal was  achieved. The sum of the goals achieved determines the 2007 bonus payout amount for each executive.

 

This excerpt taken from the TPTX DEF 14A filed Apr 23, 2007.
Discretionary Annual Cash Bonus.   Discretionary annual cash bonuses are a means of rewarding individuals based on achievement of annual corporate and individual goals. The Compensation Committee has the authority to award discretionary annual cash bonuses to our executives. Each of our executives has an annual cash bonus target ranging from 20% to 40% of base salary depending on such executive’s responsibilities. At the beginning of each year the Compensation Committee meets with our management team to specify a limited number of key corporate and individual goals for the year. These goals are then weighted to reflect their importance in determining overall corporate performance. At the end of the year the Compensation Committee reviews corporate and individual performance and establishes the achievement level of each goal as follows: below threshold (<70%), threshold (70%), expected (100%) and stretch (150%) achievement. The sum of the weighting multiplied by the achievement level for each corporate and individual goal determines the bonus payout amount for each executive.

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