Summary of Executive Officer Compensation for ABIOMED, Inc.
This document outlines the compensation arrangements for certain executive officers of ABIOMED, Inc. Dr. Karim Benali, Andrew Greenfield, and Christopher D. Macdonald are at-will employees without formal employment agreements, with specified base salaries and target bonuses for fiscal 2008. The Chief Executive Officer, Michael R. Minogue, and Chief Financial Officer, Daniel J. Sutherby, have formal agreements detailing their salaries and target bonuses. All named officers may also receive stock options or other awards at the discretion of the Compensation Committee.
Exhibit 10.19
Summary of Executive Officer Compensation
The following named 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 2008 | ||||||
| Dr. Karim Benali | $ | 174,624 | $ | 75,000 | ||||
| Andrew Greenfield | $ | 163,710 | $ | 50,000 | ||||
| Christopher D. Macdonald | $ | 199,614 | $ | 100,000 | ||||
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, that sets forth the terms of his employment. Mr. Minogue’s current salary is $351,900 and his target bonus for fiscal 2008 is $351,900. We have an offer letter with our Chief Financial Officer, Daniel J. Sutherby, that sets forth the terms of his employment. Mr. Sutherby’s current salary is $229,500 and his target bonus for fiscal 2008 is $100,000.
