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Cepheid Doles Out $339K in Cash Bonuses to Top Brass

NEW YORK, March 24 (GenomeWeb News) - Cepheid's top officals are being offered cash incentives to complete certain company objectives, according to an 8-K filing with the US Securities and Exchange Commission yesterday.

 

According to the filing, Cepheid's CEO John Bishop is eligible to receive a cash incentive payment of $160,000, or 40 percent of his base salary for fiscal year 2006. The incentive is based 50 percent on Cepheid's achievement of a specific revenue and net income and 50 percent on Cepheid's completion of certain corporate objectives related to the company's gross margin metrics. It's also based on the firm's manufacturing expansion plan and its position in the clinical market.

 

Cepheid's chief medical and technology officer, David Persing, is guaranteed an incentive bonus of $122,500, or 35 percent of his base salary for fiscal year 2006, in accordance with his employment letter dated July 21, 2005. The bonus is based on Cepheid's achievement of certain product development and release objectives, its completion of certain research and development tasks, the initiation of certain research programs, and the promotion of technology, Cepheid said.

 

Cepheid's Senior Vice President of sales and marketing, Robert Koska, is eligible to receive a cash incentive bonus of $56,250, or 25 percent of his 2006 base salary. The bonus is based 60 percent on Cepheid's product sales performance, and 40 percent on the attainment of certain departmental marketing, sales, and service objectives, the company said.

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