New Haven drug developer Achillion Pharmaceuticals signed its top officers to new two-year job contracts, a regulatory filing shows.
Executives Michael Kishbauch, Joseph Truitt, Gautam Shah, and Elizabeth Olek last Friday were handed contracts that expire Dec. 31, 2013, according to the 8-K filing with the Securities and Exchange Commission.
Kishbauch, who is CEO, has a $450,000 annual base salary, plus eligibility for a bonsus tied to Achillion’s financial and drug development performance, the filing says.
Truitt, vice president in charge of business development and chief commercial officer, gets $283,000 a year, plus bonus.
Shah earns $300,200 a year as compliance chief. Olek draws $288,500 as chief medical officer.
In addition, Milind Deshpande, chief scientific officer, and Mary Kay Fenton, chief financial officer, received supplemental agreements giving them benefits in the event the company is sold or they lose their jobs, the filing states.
Achillion is in clinical testing for drugs that treat blood-born diseases, including hepatitis C and HIV. Â
