Exhibit 10.28
2010 and 2011 Executive Officer Compensation Arrangements
Executive Officer |
| 2010 |
| 2010 Target |
| 2011 |
| 2011 Target |
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Peter C. Brandt (1) |
| $ | — |
| — |
| $ | 305,000 |
| — |
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Interim President and Chief Executive Officer |
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Patrick D. Spangler (2) |
| $ | 300,000 |
| 60 |
| $ | 300,000 |
| 60 |
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Chief Financial Officer |
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Matthew A. Kaminer (3) |
| $ | — |
| — |
| $ | 250,000 |
| 40 |
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General Counsel and Secretary |
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David B. Burlington (4) |
| $ | 270,000 |
| 60 |
| $ | 270,000 |
| 60 |
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Chief Operations Officer |
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Heather A. Gervais (5)(6) |
| $ | 175,000 |
| 20 |
| $ | 240,000 |
| 40 |
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Senior Vice President, Commercial Operations |
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Rosemary A. Crane (7) |
| $ | 350,000 |
| 70 |
| $ | 380,000 |
| 75 |
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Former President and Chief Executive Officer |
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Joseph B. Kleine (8) |
| $ | 280,000 |
| 70 |
| $ | 280,000 |
| 70 |
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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. |