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ADMP > SEC Filings for ADMP > Form 8-K on 14-Mar-2016All Recent SEC Filings




Change in Directors or Principal Officers, Financial Statements and E

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

Adoption of Adamis Pharmaceuticals Corporation 2016 Bonus Plan

At a meeting held on March 9, 2016, the independent members of the Board of Directors of Adamis Pharmaceuticals Corporation (the "Company"), based on a recommendation by the Compensation Committee, approved the Adamis Pharmaceuticals Corporation 2016 Bonus Plan (the "2016 Bonus Plan"). The 2016 Bonus Plan is substantially similar to the 2015 Bonus Plan approved in March 2015 with respect to the 2015 year. The terms of the 2016 Bonus Plan establish for each level of Company employee, including the Company's executive officers but excluding the Company's field sales employees, a target cash bonus amount, expressed as a percentage of base salary. Bonus payments will be based on an evaluation by the Compensation Committee, as well as the independent members of the Board of Directors, of the Company's achievement of corporate performance goals for 2016. The corporate performance goals for 2016 were also approved by the Compensation Committee of the Board of Directors at a meeting held on March 9, 2016, and include the achievement of performance targets and business goals tied to the Company's financial results, capital raising and strategic activities, clinical development and regulatory filings and approvals, clinical trials and related results and product development activities.

The foregoing description is a summary only, is not necessarily complete, and is qualified by the full text of the underlying plan, which is filed as an exhibit to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

10.1 Adamis Pharmaceuticals Corporation 2016 Bonus Plan*

* Represents a compensatory plan of arrangement.

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