Exhibit 10.51
SUMMARY OF EXECUTIVE OFFICER
COMPENSATION
Executive Officer Compensation—Payout of
2008 Bonuses
On January 21, 2009, the
Compensation Committee (the “Committee”) of the Board
of Directors of Sepracor Inc. (the “Company”)
approved bonus payments to the Company’s executive officers
with respect to their performance during 2008. The following table
sets forth the bonus payments for 2008 paid to each of the
Company’s executive officers.
|
Executive Officer
|
|
2008 Target
Bonus
|
|
2008 Bonus
Payment
|
|
|
Adrian Adams
President and Chief Executive Officer
|
|
$
|
1,050,000
|
|
$
|
682,500
|
|
|
Robert F. Scumaci
Executive Vice President and Chief Financial
Officer
|
|
$
|
260,000
|
|
$
|
195,000
|
|
|
Mark H.N. Corrigan, M.D.
Executive Vice President, Research and
Development
|
|
$
|
272,500
|
|
$
|
218,000
|
|
|
Andrew I. Koven
Executive Vice President, General Counsel and Corporate
Secretary
|
|
$
|
262,500
|
|
$
|
236,250
|
|
|
Mark Iwicki
Executive Vice President and Chief Commercial
Officer
|
|
$
|
300,000
|
|
$
|
300,000
|
(1)
|
|
Richard Ranieri
Executive Vice President, Human Resources and
Administration
|
|
$
|
202,500
|
|
$
|
202,500
|
(2)
|
(1)
Mr. Iwicki was contractually guaranteed a 2008 bonus of
$300,000.
(2)
Mr. Ranieri was contractually guaranteed a 2008 bonus of
$202,500.
Executive Officer Compensation for
2009—Base Salary and Target Bonus
On January 21, 2009, the
Committee approved the annual base salaries to be paid to the
Comp
