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AMRS > SEC Filings for AMRS > Form 8-K on 14-Jun-2013All Recent SEC Filings

Show all filings for AMYRIS, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for AMYRIS, INC.


Change in Directors or Principal Officers

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers, Compensatory Arrangements of Certain Officers.

On June 11, 2013, the Leadership Development and Compensation Committee (the "Committee") of the Board of Directors of Amyris, Inc. (the "Company") approved a 2013 cash bonus plan for the Company's executive officers. The 2013 bonus plan provides for the following bonus structure for executives, including the Company's continuing "named executive officers" in the Company's 2013 proxy statement filed with the Securities and Exchange Commission on April 16, 2013:

Executives will become eligible for discretionary bonuses based upon company performance and individual performance. A percentage of each executive's target bonus for the year will be allocated to each of these performance categories. For executives other than the Company's Chief Executive Officer, 80% of target bonus eligibility will be based on company performance and 20% will be based on individual performance. For the Chief Executive Officer, 100% of target bonus eligibility will be based on company performance. For 2013, the Committee generally maintained target bonus amounts for the named executive officers at the same level as they were in 2012.

The company performance category is weighted 40% for achieving production goals, 30% for achieving goals for 2013 revenue from renewable products, 20% for achieving cash management targets, and 10% for achieving organizational goals. The Company expects to modify the weighting and funding of the Company performance component for the Chief Executive Officer of the Company to reflect greater emphasis on cash management, but such modification has not yet been determined.

Based on the foregoing structure, the Committee will determine the percentage achievement levels for the company and individual performance categories following the end of 2013. The following table shows the percentage of target bonus eligibility allocated to each of these two categories that would be triggered based on percentage of achievement of performance goals:

    Metric & Payout           Minimum                  Target                      Maximum

                        80% company
Company Performance    performance          100% company performance    120% company performance
Payout as % of Target     50% payout          100% payout                150% payout

                        80% individual

Individual Performance performance 100% individual performance 120% individual performance Payout as % of Target 80% payout 100% payout 120% payout

Actual payment of any bonuses remains subject to the final discretion of the Committee.

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