Summary of Calendar 2008 Executive Officer Annual Cash Incentive Compensation

Exhibit 10.23

CARDIOVASCULAR SYSTEMS, INC.
SUMMARY OF CALENDAR 2008
EXECUTIVE OFFICER ANNUAL CASH INCENTIVE COMPENSATION

For calendar 2008, our executive officers are eligible to receive annual cash incentive compensation with target bonus levels ranging from 20% to 50% of their yearly base salary. Participants are eligible to earn 50% to 150% of their target bonus amount depending upon the company’s performance relative to the bonus plan criteria; however, in the event of extraordinary revenue performance above the goals set by the board, all of the named executive officers would receive incentive payments greater than 150% of their targets based upon a formula established by the board, with no maximum payout set under the plan. The annual cash incentive plan is designed to reward the executive officers for achieving and surpassing revenue and gross margin financial goals set by the compensation committee and board of directors.

Name		Target % of Base Salary				Threshold Bonus				Target Bonus				Maximum Bonus(1)
David L. Martin			50	%		$	98,750			$	197,500		$	296,250
President, Chief Executive Officer and Director
Laurence L. Betterley(2)			40	%		$	45,000			$	90,000		$	135,000
Chief Financial Officer
James E. Flaherty			40	%		$	43,600			$	87,200		$	130,800
Chief Administrative Officer
Robert J. Thatcher			40	%		$	43,600			$	87,200		$	130,800
Executive Vice President
Paul Koehn			40	%		$	35,310			$	70,620		$	105,930
Vice President of Manufacturing
Brian Doughty			20	%		$	19,260			$	38,520		$	57,780
Vice President of Marketing
Paul Tyska(3)			40	%		$	40,000			$	80,000		$	120,000
Vice President of Business Development
Michael J. Kallok, Ph.D.			40	%		$	51,000			$	102,000		$	153,000
Chief Scientific Officer and Director
John Borrell(4)			40	%		$	40,000			$	80,000		$	120,000
Vice President of Sales