Summary of Executive Officer Compensation for ABIOMED, Inc. (2017)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation arrangements for executive officers of ABIOMED, Inc. as approved by the Compensation Committee on May 15, 2017. Several officers are at-will employees without formal employment agreements, with specified base salaries and target bonuses effective June 1, 2017. The Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer have separate agreements or offer letters detailing their compensation. All named officers may also receive stock options or other awards at the discretion of the Compensation Committee.

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EX-10.31 5 abmd-ex1031_1323.htm EX-10.31 abmd-ex1031_1323.htm

 

Exhibit 10.31

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, as approved by the Compensation Committee on May 15, 2017, is as follows:

 

 

 

 

Name

 

Base Salary (Effective June 1, 2017)

 

Target
Fiscal 2018
Bonus
(Percentage
of Salary)

 

William J. Bolt

$340,781

65%

 

 

 

Andrew J. Greenfield

$323,440

60%

 

 

 

Michael G. Howley

$348,308

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, effective June 1, 2017, is $ 717,515 and his target bonus for fiscal 2018 is 130% of salary. We have an offer letter with our Chief Financial Officer, Michael J. Tomsicek, which sets forth the terms of his employment. Mr. Tomsicek’s current salary, effective June 1, 2017, is $ 378,525 and his target bonus for fiscal 2018 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, effective June 1, 2017, is $ 413,225 and his target bonus for fiscal 2018 is 75% of salary.