Executive Officer Compensation Summary
The executive officers of CuraGen Corporation (the “Company”) are: (i) Timothy M. Shannon, M.D., President and Chief
Executive Officer; (ii) Sean A. Cassidy, Vice President and Chief Financial Officer; and (iii) Paul M. Finigan, J.D., Executive Vice
President, General Counsel and Corporate Secretary.
The compensation structure for executive officers of the Company consists of three components: (i) base salary,
(ii) discretionary cash bonuses or stock awards and (iii) annual performance-based non-equity and equity incentive awards
under the Company’s Executive Incentive Plan (the “EIP”). Compensation decisions affecting the Company’s executive officers
are made on an annual basis by the Compensation Committee of the Company’s Board of Directors (the “Committee”).
In January 2008, the Committee approved target levels for performance-based non-equity and equity incentive awards under the
EIP for performance during fiscal year 2008. Achievement of target levels under the EIP is based upon the achievement of
corporate performance factors established by the Company’s Board of Directors. For fiscal year 2008, these performance factors
include, among other things, continued advancement of the Company’s oncology pipeline, financial performance of the
Company, return for stockholders and strategic initiatives. Additional information regarding target levels for fiscal year 2008
non-equity and equity incentive awards under the EIP are provided in the Company’s Current Report on Form 8-K filed with the
Securities and Exchange Commission (the “SEC”) on January 29, 2008.
The Committee did not implement salary increases for any of the executive officers for fiscal 2008 due to recent compensation
increases in connection with the promotions and appointments described below. A summary of fiscal 2008 compensation for
each executive officer appears below.
Timothy M. Shannon, M.D.
Dr. Shannon’s base salary for 2008 is $375,000. The Committee approved a non