Neurocrine Biosciences, Inc. (the "Company") maintains a bonus program for all employees of the Company, including its executive officers (the "Bonus Plan"). The Bonus Plan is administered by the Compensation Committee of the Board (the "Compensation Committee"), in consultation with the Board of Directors. The purpose of the Bonus Plan is to reward employees, including executive officers, for successful achievement of specified performance goals.

The Compensation Committee, in consultation with the Board of Directors, may, at their sole discretion, eliminate any individual bonus or reduce or increase the amount of compensation payable with respect to any individual bonus. An executive officer must be an employee of the Company on the date of payment to qualify for a bonus. Any executive officer who leaves the employment of the Company, voluntarily or involuntarily, prior to the payment date, is ineligible for any bonus. An employee who becomes an executive officer during the fiscal year may be eligible for a pro-rated bonus, provided the employee has been employed a minimum of three months during the calendar year.

On January 10, 2013, the Compensation Committee, in consultation with the Board of Directors, approved bonus payouts under the Bonus Plan for 2012 goal achievement. The individual amounts approved for payment to the Company's executive officers are set forth below:

    Officer                               Title                    Bonus Amount
    Kevin Gorman          President and Chief Executive Officer   $      220,600
    Timothy Coughlin      Chief Financial Officer                 $      135,200
    Christopher O'Brien   Chief Medical Officer                   $      151,400
    Haig Bozigian         Chief Development Officer               $      117,600
    Dimitri Grigoriadis   Chief Research Officer                  $      109,200

On January 10, 2013, the Compensation Committee, in consultation with the Board of Directors, approved 2013 base salaries for the Company's executive officers. The individual 2013 base salaries approved for the Company's executive officers are set forth below:

    Officer                               Title                    Base Salary
    Kevin Gorman          President and Chief Executive Officer   $     541,100
    Timothy Coughlin      Chief Financial Officer                 $     397,800
    Christopher O'Brien   Chief Medical Officer                   $     445,600
    Haig Bozigian         Chief Development Officer               $     352,800
    Dimitri Grigoriadis   Chief Research Officer                  $     321,500

On January 10, 2013, the Compensation Committee, in consultation with the Board of Directors, approved the grant of stock options to the Company's executive officers pursuant to the Company's 2011 Equity Incentive Plan. The exercise price for these options is equal to the closing price of the Company's stock on the NASDAQ Global Select Market on January 10, 2013 of $8.65. These options have a 10 year life and vest ratably on a monthly basis over a four year period, subject to the executive officer's continued service to the Company. The individual option grants approved for the Company's executive officers are set forth below:

  Officer                               Title                    Options Granted
  Kevin Gorman          President and Chief Executive Officer             175,000
  Timothy Coughlin      Chief Financial Officer                            86,000
  Christopher O'Brien   Chief Medical Officer                              86,000
  Haig Bozigian         Chief Development Officer                          75,000
  Dimitri Grigoriadis   Chief Research Officer                             75,000

On January 10, 2013, the Compensation Committee, in consultation with the Board of Directors, approved the grant of restricted stock units ("RSU") to the Company's executive officers pursuant to the Company's 2011 Equity Incentive Plan. These RSU vest ratably on an annual basis over a four year period, subject to the executive officer's continued service to the Company. The individual RSU approved for the Company's executive officers are set forth below:

    Officer                               Title                    RSU Granted
    Kevin Gorman          President and Chief Executive Officer          30,000
    Timothy Coughlin      Chief Financial Officer                        14,000
    Christopher O'Brien   Chief Medical Officer                          14,000
    Haig Bozigian         Chief Development Officer                      13,000
    Dimitri Grigoriadis   Chief Research Officer                         13,000