ADAMIS PHARMACEUTICALS CORPORATION (NASDAQ:ADMP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 21, 2018, the Compensation Committee of the Board of Directors (the “Board”) of Adamis Pharmaceuticals Corporation (the “Company”), approved the Company’s 2018 Bonus Plan (the “Plan”). The terms of the Plan establish for each level of Company employee, including the Company’s executive officers but excluding the Company’s field sales employees, a target cash bonus amount, expressed as a percentage of base salary. Bonus payments will be based on an evaluation by the Committee of the Company’s achievement of corporate performance goals for the relevant year, and, where applicable, individual goals. The corporate performance goals for 2018 will be determined by the Committee and may include the achievement of performance targets and business goals relating to matters such as, without limitation, the Company’s financial results, revenues, net income, EBITDA, return on equity, stock price, capital raising activities, pre-clinical or clinical trial activities (including without limitation initiation or completion of trials), regulatory filings relating to product candidates, other regulatory activities or approvals, product development, product commercialization activities, strategic activities and strategic commercial agreements or arrangements, or other corporate goals. The Committee and the Board also confirmed the Committee’s arrangements and authority to approve and make discretionary cash compensation payments, including, without limitation, changes in salaries, bonus payments or other cash compensation, and payments permitted by any applicable employment agreement.
The foregoing description is a summary only, is not necessarily complete, and is qualified by the full text of the underlying plan or arrangement, which are filed as exhibits to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
10.1 Adamis Pharmaceuticals Corporation 2018 Bonus Plan*
10.2 Description of Compensation Committee Authorization Regarding Discretionary Compensation Payments.*
* Represents a compensatory plan of arrangement.
Adamis Pharmaceuticals Corp ExhibitEX-10.1 2 ex10-1.htm ADAMIS PHARMACEUTICALS CORPORATION 2018 BONUS PLAN Adamis Pharmaceuticals Corporation 8-K Exhibit 10.1 ADAMIS PHARMACEUTICALS CORPORATION 2018 BONUS PLAN * Excludes those covered under the Field Sales Incentive Plans 1 Adamis Pharmaceuticals Corporation 2018 Bonus Plan The Adamis Pharmaceuticals Corporation (“Adamis” or the “Company”) 2018 Bonus Plan (the “Plan”) is designed to offer employees a performance based plan that rewards the achievement of corporate goals,…To view the full exhibit click here
About ADAMIS PHARMACEUTICALS CORPORATION (NASDAQ:ADMP)
Adamis Pharmaceuticals Corporation is a pharmaceutical company. The Company is engaged in the development of its specialty pharmaceutical products. The Company is developing various products in the allergy and respiratory markets, including a dry powder inhaler technology that it acquired from 3M Company (3M). The Company’s product portfolio includes specialty pharmaceutical products, such as Epinephrine pre-filled syringe (PFS), APC-5000 dry powder inhaler (DPI), APC-1000 and APC-2000, and biotechnology products, such as TeloB-VAX (vaccine), APC-100, APC-200 and APC-300. The Company’s lead product candidate, the Epinephrine Injection USP 1:1000 0.3 milligram Pre-filled Single Dose Syringe, or the Epinephrine PFS, is a pre-filled syringe designed to deliver a premeasured 0.3 milligrams dose of epinephrine for the treatment of anaphylaxis. The Company also has licensed vaccine technology called somatic transgene immunization (STI) technology.