Document ID: 11484

Text:
(c) Annual Bonus Opportunity. Beginning with calendar year 2018, Executive will be eligible to receive an annual bonus of up to fifty percent ( 50% ) of Executives Base Salary (the Annual Bonus). The actual amount of such Annual Bonus will be determined by the Companys Board of Directors (the Board) based upon achievement of financial and other performance-related goals established in writing by the Board in consultation with Executive no later than December 31 of each calendar year during the Term. For calendar year 2017, Executive shall receive an Annual Bonus of $37,500 . For calendar year 2018, one-half of the Annual Bonus will be based upon the Companys achievement of net income measured against targets to be reasonably established by the Board in writing, and one-half of the Annual Bonus will be based upon the Companys conclusion of an equity financing resulting in proceeds of at least $10,000,000 to the Company. For each applicable year, the Board will determine on or before January 31 of the applicable year (the Determination Date), after consultation with Executive, which consultation shall take place no less than ten (10) business days before the Determination Date, the extent to which applicable Annual Bonus criteria have been met and the amount of the resulting Annual Bonus, if any. The Annual Bonus for any given year will be payable between January 1 and March 15 in the year immediately following the year in which the Annual Bonus, if any, is earned. To the extent cash bonuses to the Companys management are restricted by the Companys Amended and Restated Loan Agreement with Knight Therapeutics (Barbados) Inc. (the Loan Agreement), the Company may pay up to one-half of the Annual Bonus in Company stock as required to comply with the Loan Agreement, based on the Fair Market Value of the stock on the Determination Date, with the remainder paid in cash. As used in this Agreement, the term Fair Market Value has the meaning provided in the Companys 2014 Equity Incentive Plan (the Plan). Except as otherwise provided in Section 6(b) below, Executive must be employed by the Company on the Determination Date in order to receive the Annual Bonus for that year.

Named Entities:
28
29
Percentage
105
108
Salary
115
115
Ratio
144
144
Ratio
166
171
Principal
299
300
Title
311
312
Title
321
321
Ratio
335
336
Title

Tokenized Text:
(
c
)
Annual
Bonus
Opportunity
.
Beginning
with
calendar
year
2018
,
Executive
will
be
eligible
to
receive
an
annual
bonus
of
up
to
fifty
percent
(
50
%
)
of
Executives
Base
Salary
(
the
Annual
Bonus
)
.
The
actual
amount
of
such
Annual
Bonus
will
be
determined
by
the
Companys
Board
of
Directors
(
the
Board
)
based
upon
achievement
of
financial
and
other
performance-related
goals
established
in
writing
by
the
Board
in
consultation
with
Executive
no
later
than
December
31
of
each
calendar
year
during
the
Term
.
For
calendar
year
2017
,
Executive
shall
receive
an
Annual
Bonus
of
$
37
,
500
.
For
calendar
year
2018
,
one-half
of
the
Annual
Bonus
will
be
based
upon
the
Companys
achievement
of
net
income
measured
against
targets
to
be
reasonably
established
by
the
Board
in
writing
,
and
one-half
of
the
Annual
Bonus
will
be
based
upon
the
Companys
conclusion
of
an
equity
financing
resulting
in
proceeds
of
at
least
$
10
,
000
,
000
to
the
Company
.
For
each
applicable
year
,
the
Board
will
determine
on
or
before
January
31
of
the
applicable
year
(
the
Determination
Date
)
,
after
consultation
with
Executive
,
which
consultation
shall
take
place
no
less
than
ten
(
10
)
business
days
before
the
Determination
Date
,
the
extent
to
which
applicable
Annual
Bonus
criteria
have
been
met
and
the
amount
of
the
resulting
Annual
Bonus
,
if
any
.
The
Annual
Bonus
for
any
given
year
will
be
payable
between
January
1
and
March
15
in
the
year
immediately
following
the
year
in
which
the
Annual
Bonus
,
if
any
,
is
earned
.
To
the
extent
cash
bonuses
to
the
Companys
management
are
restricted
by
the
Companys
Amended
and
Restated
Loan
Agreement
with
Knight
Therapeutics
(
Barbados
)
Inc
.
(
the
Loan
Agreement
)
,
the
Company
may
pay
up
to
one-half
of
the
Annual
Bonus
in
Company
stock
as
required
to
comply
with
the
Loan
Agreement
,
based
on
the
Fair
Market
Value
of
the
stock
on
the
Determination
Date
,
with
the
remainder
paid
in
cash
.
As
used
in
this
Agreement
,
the
term
Fair
Market
Value
has
the
meaning
provided
in
the
Companys
2014
Equity
Incentive
Plan
(
the
Plan
)
.
Except
as
otherwise
provided
in
Section
6
(
b
)
below
,
Executive
must
be
employed
by
the
Company
on
the
Determination
Date
in
order
to
receive
the
Annual
Bonus
for
that
year
.