EX-10.26 3 d442571dex1026.htm EX-10.26 EX-10.26

Exhibit 10.26

 

Executive Officer Compensation Information

 

The following table sets forth the annual base salaries for 2012 and 2013 for the executive officers of Seattle Genetics, Inc. (the “Company”). The table below also sets forth the bonuses awarded to the Company’s executive officers for the 2012 fiscal year under the Company’s 2012 Senior Executive Annual Bonus Plan. The 2013 target bonuses (based on a percentage of base salary) for the Company’s executive officers under the Company’s 2013 Senior Executive Annual Bonus Plan are also set forth in the table below.

 

Name and Title

   2012 Base Salary      2012 Bonus      2013
Base Salary		     2013 Target Bonus
Percentage		  

Clay B. Siegall, Ph.D.

  President & Chief

  Executive Officer

    $ 700,000       $ 577,500       $ 725,000        75 % 

Todd E. Simpson

  Chief Financial Officer

    $ 371,350       $ 183,818       $ 399,350        45 % 

Eric L. Dobmeier

  Chief Operating Officer

    $ 442,050       $ 243,128       $ 457,550        50 % 

Thomas C. Reynolds

  Former Chief Medical Officer

    $ 432,900       $ 214,286       $ 432,900 (1)      N/A   

Vaughn Himes

  Executive Vice President,

  Technical Operations

    $ 365,000       $ 166,440       $ 379,600        40 % 

Chris Boerner

  Senior Vice President,

  Commercial

    $ 315,000       $ 138,600       $ 357,600        40 % 

 

(1)  

Dr. Reynolds resigned from the Company effective February 15, 2013.

Director Compensation Information

 

The following table sets forth the compensation components for non-employee members of the Company’s Board of Directors for 2012 and 2013, including equity awards.

 

Compensation Element

    2012      2013  

General Board Service – Cash Retainer

    $ 40,000       $ 50,000   

General Board Service – Equity

      

Initial Grant – Number of Options

      25,000         12,500   

Initial Grant – Number of Restricted Stock Units

      0         5,000   

Annual Grant – Number of Shares

      17,500         8,750   

Annual Grant – Number of Restricted Stock Units

      0         3,500   

Chair Service – Annual Retainer

      

Lead Director

    $ 12,000       $ 12,000   

Audit

    $ 20,000       $ 20,000   

Compensation

    $ 12,000       $ 15,000   

Nominating & Governance

    $ 5,000       $ 10,000   

Committee Member Service – Annual Retainer

      

Audit

    $ 10,000       $ 10,000   

Compensation

    $ 6,000       $ 8,000   

Nominating & Governance

    $ 3,000       $ 5,000