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 employees compensation is as follows:
These officers are also eligible to receive grants of stock options and other awards at the discretion of ABIOMEDs Compensation Committee.
We have an employment agreement with our Chief Executive Officer, Michael R. Minogue, which sets forth the terms of his employment. Mr. Minogues 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. Bowens 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. Webers current salary is $302,500 and his target bonus for fiscal 2011 is 55% of salary.