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EX-10.1 - EXHIBIT 10.1 - SANTARUS INC | c12347exv10w1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 8, 2011
SANTARUS, INC.
(Exact name of registrant as specified in its charter)
Delaware | 0-50651 | 33-0734433 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
3721 Valley Centre Drive, Suite 400, San Diego, California |
92130 |
|
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (858) 314-5700
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers.
Adoption of Santarus, Inc. 2011 Bonus Plan for Fiscal Year 2011
At a meeting held on February 8, 2011, the independent members of the Board of Directors of
Santarus, Inc. (the Company), based on a recommendation by the Compensation Committee, approved
the Santarus, Inc. 2011 Bonus Plan (the 2011 Bonus Plan). The terms of the 2011 Bonus Plan
establish for each level of Company employee, including the Companys executive officers but
excluding the Companys field commercial employees, a target cash bonus amount, expressed as a
percentage of base salary. Bonus payments will be based on an evaluation by the Compensation
Committee, as well as the independent members of the Board of Directors, of the Companys
achievement of corporate performance goals for 2011. The corporate performance goals for 2011 were
also approved by the independent members of the Board of Directors at the meeting held on February
8, 2011, and include the achievement of performance targets with respect to the Companys financial
results and clinical development and regulatory matters.
The foregoing description is a summary only, is not necessarily complete, and is qualified by
the full text of the underlying plan, which is filed as an exhibit to this Current Report on Form
8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
10.1 | Santarus, Inc. 2011 Bonus Plan |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
SANTARUS, INC. |
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Date: February 11, 2011 | By: | /s/ Gerald T. Proehl | ||
Name: | Gerald T. Proehl | |||
Title: | President and Chief Executive Officer | |||
EXHIBIT INDEX
10.1 | Santarus, Inc. 2011 Bonus Plan |