American Superconductor Corporation Fiscal 2005 Executive Bonus Plan Summary
American Superconductor Corporation's Board of Directors and its Compensation Committee approved a bonus plan for fiscal year 2005 for certain executive officers. The plan sets target bonus amounts for each executive, with actual payouts based on the company's revenue, operating results, and individual performance. The Compensation Committee determines bonuses for all executives except the CEO, whose bonus is set by the Board based on the Committee's recommendation. The agreement lists the eligible executives and their respective target incentive amounts.
EXHIBIT 10.5
SUMMARY OF FISCAL 2005 EXECUTIVE BONUS PLAN
On April 26, 2004, the Compensation Committee (the “Committee”) of the Board of Directors of American Superconductor Corporation (the “Company”) approved an executive bonus program for fiscal year 2005 for certain executive officers of the Company. Under the program, the Committee, which is comprised of three independent non-employee directors, is responsible for determining the compensation package for each executive officer except the Chief Executive Officer. The Board of Directors determines the compensation package of the Chief Executive Officer based on the recommendation it receives from the Committee. The bonuses will be based on the Company achieving certain targeted revenue and operating results as well as the individual performance of the executives.
The target bonus amount for each eligible executive officer is set forth below:
| Name | Title | Target Incentive | ||
| Gregory J. Yurek | Chief Executive Officer | $202,500 | ||
| David Paratore | President and Chief Operating Officer | $120,000 | ||
| Kevin M. Bisson | Chief Financial Officer and Treasurer | $84,400 | ||
| Stuart C. Karon | Vice President, Business Development | $48,000 | ||
| Alexis P. Malozemoff | Chief Technical Officer | $73,438 | ||
| Thomas M. Rosa | Vice President, Finance and Accounting | $35,659 |
