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VRML > SEC Filings for VRML > Form 8-K on 10-Mar-2014All Recent SEC Filings

Show all filings for VERMILLION, INC.

Form 8-K for VERMILLION, INC.


10-Mar-2014

Change in Directors or Principal Officers


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

On March 5, 2014, the Compensation Committee of the Board of Directors of Vermillion, Inc. approved the 2013 bonus payout amounts to each of the named executive officers listed below. The 2013 cash bonus payout amounts were determined based primarily on (1) continued commercialization of OVA1 and increasing test volume, (2) generation of clinical data to foster inclusion in society position statements, (3) progress on platform migration, (4) advancement of a next-generation diagnostic test, (5) management of operating expenses and
(6) a discretionary component based on the achievement of certain strategic initiatives. The amounts below together represent approximately 73% of the aggregate target bonus amount for such named executive officers. Mr. McLain's payout was prorated based upon his start date of March 18, 2013.

         Name                         Title                Bonus Payout for 2013
Thomas H. McLain        President and Chief Executive      $92,887
                        Officer
                        Senior Vice President of Business
Donald G. Munroe, Ph.D. Development and Chief Scientific   $81,250
                        Officer
Eric J. Schoen          Vice President, Finance and Chief  $44,250
                        Accounting Officer


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