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ADMP > SEC Filings for ADMP > Form 8-K on 11-Jan-2017All 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.

On January 5, 2017, the Compensation Committee of the Board of Directors of Adamis Pharmaceuticals Corporation (the "Company") approved the Company's 2017 Bonus Plan (the "Plan") and approved the corporate performance goals for 2017 under the Plan. The Plan is substantially similar to the 2016 Bonus Plan approved last year with respect to the 2016 year. The terms of the Plan generally 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 of the Company's achievement of corporate performance goals and, where applicable, individual performance goals or other goals applicable to an individual, for the relevant year. The corporate performance goals for 2017 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 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 2017 Bonus Plan*

* Represents a compensatory plan of arrangement.

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