Synygy Announces Incentive Compensation Agreement with Bayer Corporation

Business Wire, Jan 25, 2000

Business Editors/Hi-Tech Writers

BALA CYNWYD, Pa.--(BUSINESS WIRE)--Jan. 25, 2000

Synygy, The Incentive Compensation Company(TM), today announced that it has signed an agreement to provide incentive compensation services to the North American Pharmaceutical Division of Bayer Corporation, a research-based company with major businesses in health care, life sciences, chemicals, and imaging technologies.

Under the agreement, Synygy will manage an incentive compensation plan for 1425 sales representatives in the North American Pharmaceutical Division. Bayer is looking to use incentive compensation to gain a competitive advantage in the dynamic pharmaceutical market.

&uot;Synygy's exceptional track record for helping companies implement and manage increasingly complex incentive compensation plans has been recognized by Bayer,&uot; said Mark A. Stiffler, Synygy president and CEO. &uot;Incentive compensation has evolved from a simple administrative function of the finance or sales operations department into a highly sophisticated strategic corporate tool. Companies like Bayer are leveraging our expertise and technology to gain a competitive advantage.&uot;

About Bayer

Bayer Corporation is a research-based company with major businesses in health care and life sciences and chemicals. The company had 1998 sales of $8.1 billion and employs more than 23,000 people. Bayer Corporation is investing $15 billion in capital expenditures and research and development from 1995 through the year 2004. 1999 capital investment and R& expenditures are projected to total $1.6 billion.

Bayer Corporation, with headquarters in Pittsburgh, is a member of the worldwide Bayer Group, a $31 billion international life sciences, polymers and specialty chemicals group based in Leverkusen, Germany.

About Synygy

Synygy (www.synygy.com), The Incentive Compensation Company(TM), implements and manages incentive compensation plans for many of the world's largest companies. Synygy helps companies with over 200 people on variable compensation plans achieve a competitive advantage through better incentive compensation management.

Based in Bala Cynwyd, Pennsylvania, Synygy has been recognized for the past three years on the Inc. 500 and the past five years in the Philadelphia Business Journal's Philly 100.