Exhibit 10.15
December 12, 2005 (revised)
Daniel Sutherby
Dear Dan:
We at ABIOMED are pleased to offer you the
position of Chief Financial Officer reporting to Michael Minogue,
Chairman, CEO & President with a starting salary paid at the
semi-monthly rate of $9,375.00 (equivalent to $225,000 per year).
You will be eligible to participate in ABIOMED’s benefit
plans, which include medical, dental, life, long and short-term
disability insurance commencing on your first day of
employment. You will also be eligible to participate in our
401(k) plan, which includes a matching contribution. All
benefits are subject to the provisions of the plan. Also, your
vacation will accrue at a monthly rate of 13.33 hours, which is
equivalent to four (4) weeks per year.
In addition, you will be paid a sign-on bonus in
the amount of $50,000, payable in two $25,000 payments at the end
of January and at the end of February 2006, provided that you begin
your employment on or before January 3, 2006. Also, you will be
eligible for a bonus with an annual target pay-out of $100,000 for
outstanding performance. During your first year, your bonus
will be pro-rated based on achievement of personal and Company
objectives, which will be established by you and Mike
Minogue.
Subject to the approval by the Compensation
Committee of the Board of Directors, you will also be granted a
sign-on option to purchase 80,000 (eighty thousand) shares of
Common Stock of ABIOMED, INC. pursuant to the Company’s
Incentive Stock Option Plan. Under the plan, this
