Temporary Salary Reduction Letter Agreement between Executive and Abiomed, Inc.
This letter agreement is from an executive of Abiomed, Inc. to the Board of Directors, volunteering to forgo 50% of their annual cash salary for the period between April 30, 2020, and June 30, 2020, due to the impact of the COVID-19 pandemic. The reduction applies after payment of company-sponsored health and welfare benefits. The agreement is intended to help the company manage financial uncertainty during the pandemic.
Exhibit 10.19
April 27, 2020
By Email
Paul G. Thomas, Chairman of the Compensation Committee
Board of Directors of Abiomed, Inc.
C/O of: Marc Began, Secretary
22 Cherry Hill Drive
Danvers, Ma 01923
Re:Temporary Salary Reduction
To the Board of Directors of Abiomed, Inc.:
In light of the disruption and uncertainty created by the evolving COVID-19 pandemic and its impact on the operations of Abiomed, Inc. (the “Company”), I hereby volunteer to forgo 50% of my annual cash salary payable between April 30, 2020 and June 30, 2020, after payment of my Company-sponsored health and welfare benefits.
Sincerely,
__________________________
Name:
Title:
