Summary of Executive Officer Compensation

EX-10.23 2 d707960dex1023.htm EX-10.23 EX-10.23

Exhibit 10.23

Summary of Executive Officer Compensation

The following executive officers of ABIOMED, Inc. are at will employees of ABIOMED, Inc. and have not entered into a formal employment agreement with ABIOMED, Inc. The current understanding between each employee and ABIOMED, Inc. with respect to the employee’s compensation is as follows:

 

Name

    Base Salary      Target
Fiscal 2015
Bonus
(Percentage
of Salary)		  

William J. Bolt

    $ 294,565         60 % 

Andrew J. Greenfield

    $ 271,737         55 % 

Michael G. Howley

    $ 306,696         65 % 

These officers are also eligible to receive grants of stock options and other awards at the discretion of ABIOMED’s Compensation Committee.

We have an employment agreement with our Chief Executive Officer, Michael R. Minogue, which sets forth the terms of his employment. Mr. Minogue’s current salary is $537,876 and his target bonus for fiscal 2015 is 120% of salary. We have an offer letter with our Chief Financial Officer, Robert L. Bowen, which sets forth the terms of his employment. Mr. Bowen’s current salary is $323,322 and his target bonus for fiscal 2015 is 60% of salary. We also have an offer letter with our Chief Operating Officer, David M. Weber, which sets forth the terms of his employment. Mr. Weber’s current salary is $350,381 and his target bonus for fiscal 2015 is 70% of salary.