Summary of Executive Officer Compensation

Contract Categories: Human Resources - Compensation Agreements
EX-10.23 2 dex1023.htm SUMMARY OF EXECUTIVE COMPENSATION Summary of Executive Compensation

Exhibit 10.23

Summary of Executive Officer Compensation

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

 

Name

    Base Salary    Bonus
Target for
Fiscal  2011
(Percentage
of Salary)		  

William Bolt

    $ 249,600    50 % 

Andrew Greenfield

    $ 221,450    45 % 

Michael Howley

    $ 255,000    60 % 

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 $405,153 and his target bonus for fiscal 2011 is 100% 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 $295,800 and his target bonus for fiscal 2011 is 50% 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 $302,500 and his target bonus for fiscal 2011 is 55% of salary.