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Local money briefs.

COLUMN: Local money briefs

Sepracor CEO paid $1M

MARLBORO - Drug developer Sepracor Inc. raised the base salary of Chief Executive Adrian Adams by 3 percent to $1.08 million in 2009, the company reported yesterday in a filing with the U.S. Securities and Exchange Commission.

Mr. Adams made a base salary of $1.05 million in 2008 and received a bonus worth about 65 percent of his salary, or $682,500, last year, plus stock options and other compensation, according to the filing.

Sepracor products include the asthma drug Xopenex and the sleeping pill Lunesta. The company recently announced plans to cut more than 500 jobs and restructure.

Double-Take pay rates

SOUTHBORO - The board of directors at data replication and storage software provider Double-Take Software Inc. voted to give President and Chief Executive Officer Dean Goodermote $683,814 in merit-based incentive options for meeting revenue and profit targets. Added to his base pay of $350,000, his compensation for 2008 is $1,033,814, according to a proxy statement the company filed with the U.S. Securities and Exchange Commission yesterday. That is up from the total of $986,352 he was paid in 2007.

S. Craig Huke, chief financial officer, received a base pay of $215,000 and merit-based compensation totaling $410,384; Robert L. Beeler, vice president of engineering received a base pay of$180,000 and merit-based compensation totaling $342,552; Daniel M. Jones, vice president of sales and marketing received base pay of $393,602 and merit-based compensation totaling $566,259; and Jo Murciano, a vice president, received $273,256 in base pay and merit-based compensation totaling $668,424. The company's annual stockholders meeting will be held at 9 a.m. May 14 at the Harvard Club of Boston, 374 Commonwealth Ave., Boston.

Nasdaq keeps EXACT

MARLBORO - EXACT Sciences Corp., developer of a DNA-based test for colon cancer, yesterday announced it has met the market capitalization requirements for continued listing on the Nasdaq Stock Market. The company said in a news release its shares will continue to trade on Nasdaq Capital Market.

Business roundtable

WORCESTER - Worcester business and community leaders will hold a business roundtable on improving U.S. international relations and the regional economy at 5:30 p.m. Tuesday at the Crowne Plaza Hotel.

The event, held by The International Center of Worcester, will include a reception and dinner. Preregistration of $30 is required through the ICW office at (508) 793-7626. Keynote speaker will be Cari Guittard, executive director of Business for Diplomatic Action in New York and San Francisco.

Legal advice for vets

Veterans can receive free legal advice April 30 through the Massachusetts Bar Association's Veterans Dial-A-Lawyer call-in program.

Veterans who have questions concerning benefits, divorce, child support, employment, landlord-tenant and other legal issues can call (617) 338-0610 from 5:30 to 7:30 p.m. to speak to volunteer MBA lawyers.
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Title Annotation:MONEY
Publication:Telegram & Gazette (Worcester, MA)
Date:Apr 4, 2009
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