GENEREX
BIOTECHNOLOGY
CORPORATION
|
(Exact
Name of Registrant as Specified in Its
Charter)
|
Delaware
|
000-25169
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98-0178636
|
(State
or Other
|
(Commission
|
(IRS
Employer
|
Jurisdiction
of
|
File
Number)
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Identification
|
Incorporation)
|
|
Number)
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33
Harbour Square, Suite 202, Toronto, Ontario
Canada
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M5J
2G2
|
|
(Address
of Principal Executive Offices)
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(Zip
Code)
|
|
Registrant’s
telephone number, including area code: (416)
364-2551
|
N/A
|
(Former
name or former address, if changed since
last report.)
|
Item 5.02. |
Departure
of Directors or Certain Officers; Election of Directors; Appointment
of
Certain Officers;
Compensatory Arrangements of Certain
Officers.
|
(e)
|
On
May 6, 2008, the Board of Director of Generex Biotechnology Corporation
(the “Company”) approved, as recommended by the Company’s Compensation
Committee, the following base salary increases, bonuses and other
compensation to the Company’s named executive officers.
|
The
Board approved a five percent increase in the base salaries of the
named
executive officers, effective as of January 1, 2008, as
follows:
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Named
Executive
|
Base
Salary
Effective
as of January 1, 2008
|
Anna
E. Gluskin
President
and Chief Executive Officer
|
USD
$525,000
|
Rose
C. Perri
Chief
Operating Officer, Chief Financial Officer, Treasurer and
Secretary
|
USD
$420,000
|
Mark
A. Fletcher
Executive
Vice President and General Counsel
|
USD
$315,000
|
Amounts
representing the retroactive salary increases from January 2008 through
date of payment will be paid by June 1,
2008.
|
Named
Executive
|
Bonus
|
Anna
E. Gluskin
President
and Chief Executive Officer
|
USD
$215,000
|
Rose
C. Perri
Chief
Operating Officer, Chief Financial Officer, Treasurer and
Secretary
|
USD
$165,000
|
Mark
A. Fletcher
Executive
Vice President and General Counsel
|
USD
$125,000
|
Named
Executive
|
2007
Payment Amount
(by
June 1, 2008)
(CAD
$)
|
2008
Payment Amount
(by
August 16, 2009)
(CAD
$)
|
2009
Payment Amount
(by
August 16, 2010)
(CAD
$)
|
Anna
E. Gluskin
|
$140,551
|
$70,275
|
$70,275
|
Rose
C. Perri
|
$122,982
|
$61,491
|
$61,491
|
Mark
A. Fletcher
|
$175,618
|
$35,173
|
$35,173
|
|
|
|
|
GENEREX
BIOTECHNOLOGY CORPORATION
|
|
|
|
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Date: May
9, 2008
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By:
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/s/
Rose C. Perri
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|
Chief
Operating Officer and
|
|
|
Chief
Financial Officer
(principal
financial officer)
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