Exhibit 10.28

 

2010 and 2011 Executive Officer Compensation Arrangements

 

Executive Officer

 

2010
Base
Salary
Rate

 

2010 Target
Bonus as %
of Annual
Base Salary
Rate

 

2011
Base
Salary
Rate

 

2011 Target
Bonus as %
of Annual
Base Salary
Rate

 

Peter C. Brandt (1)

 

$

—

 

—

 

$

305,000

 

—

 

Interim President and Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Patrick D. Spangler (2)

 

$

300,000

 

60

 

$

300,000

 

60

 

Chief Financial Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Matthew A. Kaminer (3)

 

$

—

 

—

 

$

250,000

 

40

 

General Counsel and Secretary

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

David B. Burlington (4)

 

$

270,000

 

60

 

$

270,000

 

60

 

Chief Operations Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Heather A. Gervais (5)(6)

 

$

175,000

 

20

 

$

240,000

 

40

 

Senior Vice President, Commercial Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rosemary A. Crane (7)

 

$

350,000

 

70

 

$

380,000

 

75

 

Former President and Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Joseph B. Kleine (8)

 

$

280,000

 

70

 

$

280,000

 

70

 

Former Chief Commercial Officer

 

 

 

 

 

 

 

 

 

 

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(1)

Mr. Brandt joined the Company on November 16, 2011.

(2)

Mr. Spangler joined the Company on October 4, 2010.

(3)

Mr. Kaminer joined the Company on June 27, 2011.

(4)

Mr. Burlington joined the Company on November 11, 2010.

(5)

Ms. Gervais joined the Company as Vice President of Client Services on
September 7, 2010.

(6)

Ms. Gervais became Senior Vice President, Commercial Operations on November 9,
2011, and her base salary rate, as of that date, was increased to $240,000.

(7)

Ms. Crane resigned as President and Chief Executive Officer effective
November 16, 2011. In connection with her resignation, Ms. Crane and the Company
entered into a separation agreement.

(8)

Mr. Kleine resigned as Chief Commercial Officer effective November 7, 2011. In
connection with his resignation, Mr. Kleine and the Company entered into a
separation agreement.

 

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