Cardiovascular Systems, Inc. Director Compensation Arrangements for Fiscal Year Ending June 30, 2010

Summary

Cardiovascular Systems, Inc. has set out compensation terms for its non-employee directors for the year ending June 30, 2010. Directors will receive annual cash payments for board and committee service, additional fees for attending extra meetings, and a restricted stock unit award valued at $100,000, payable in cash after leaving the board. The Chairman of the Board receives an extra $40,000 annual retainer, which can be taken in stock. These arrangements outline the pay structure and benefits for board members during the specified period.

EX-10.34 2 c53503exv10w34.htm EX-10.34 exv10w34

Exhibit 10.34

DIRECTOR COMPENSATION ARRANGEMENTS

For the twelve month period ending June 30, 2010, each non-employee director of Cardiovascular Systems, Inc. will receive the following compensation:

	•		$40,000 for service as a board member;

	•		$20,000 for service as a chairman of a board committee;

	•		$10,000 for service as a member of a board committee;

	•		$1,200 per board or committee meeting attended in the event more than 12 of each such meeting are held during the period; and

	•		a restricted stock unit award with a value of $100,000, to be granted following completion of the audit of the Company’s financial statements for the fiscal year ending June 30, 2010, and payable in cash beginning six months after the termination of the director’s board membership.

In addition, the Chairman of the Board will receive an annual retainer of $40,000, which may, at the election of the Chairman, be paid in shares of common stock based on the fair market value of the Company’s common stock on the date of payment.