Attached files
Exhibit 10.12
CARDIOVASCULAR SYSTEMS, INC.
SUMMARY OF AMENDMENT TO FISCAL 2010
EXECUTIVE OFFICER ANNUAL CASH INCENTIVE COMPENSATION
SUMMARY OF AMENDMENT TO FISCAL 2010
EXECUTIVE OFFICER ANNUAL CASH INCENTIVE COMPENSATION
On April 21, 2010, the Board of Directors and the Compensation Committee of Cardiovascular Systems,
Inc. (the Company) awarded cash bonuses to the Companys executive officers under the
Cardiovascular Systems, Inc. Fiscal 2010 Executive Officer Annual Cash Incentive Compensation
program, as amended (the Cash Incentive Program). Pursuant to the Cash Incentive Program, the
Companys executive officers were eligible to receive cash incentive compensation for the first
half of fiscal 2010 based on pre-determined revenue and adjusted EBITDA financial goals set by the
Board and the Compensation Committee. Although these plan goals were not achieved, the Board and
the Compensation Committee concluded that the Companys achieved financial performance and progress
in other areas, including clinical trials, sales training, product protocol definition and customer
education, justified the grant of bonuses to the executive team. For this performance during the
first half of fiscal 2010, the Board and the Compensation Committee awarded cash bonuses equal to
75% of the target bonus amounts available to executive officers for such period under the Cash
Incentive Program. The Companys executive officers will be eligible to receive additional bonuses
under the Cash Incentive Program for the second half of fiscal 2010 ranging from 50% to 150% of the
target amounts for such period based on pre-determined revenue and adjusted EBITDA financial
goals.