Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On July 10, 2012, the Compensation Committee of Sarepta Therapeutics, Inc.
(f/k/a AVI BioPharma, Inc., the "Company") approved a performance-based cash
bonus plan (the "Corporate Goals") for calendar year 2012 for eligible employees
of the Company, including the Company's named executive officers. The Corporate
Goals relate to corporate management, business development success and
progression of the Company's clinical and government programs, as well as its
research and development programs. The amount of the cash bonus that our named
executive officers are eligible to receive to the extent the Corporate Goals are
met is based on a predetermined target percentage of base salary set forth in
such individual's offer letter or employment agreement, as applicable.
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