Attached files
| file | filename |
|---|---|
| EX-31.1 - EX-31.1 - AMERICAN SUPERCONDUCTOR CORP /DE/ | b80566exv31w1.htm |
| EX-32.2 - EX-32.2 - AMERICAN SUPERCONDUCTOR CORP /DE/ | b80566exv32w2.htm |
| EX-31.2 - EX-31.2 - AMERICAN SUPERCONDUCTOR CORP /DE/ | b80566exv31w2.htm |
| EX-32.1 - EX-32.1 - AMERICAN SUPERCONDUCTOR CORP /DE/ | b80566exv32w1.htm |
| EX-21.1 - EX-21.1 - AMERICAN SUPERCONDUCTOR CORP /DE/ | b80566exv21w1.htm |
| EX-23.1 - EX-23.1 - AMERICAN SUPERCONDUCTOR CORP /DE/ | b80566exv23w1.htm |
| EX-10.11 - EX-10.11 - AMERICAN SUPERCONDUCTOR CORP /DE/ | b80566exv10w11.htm |
| EX-10.32 - EX-10.32 - AMERICAN SUPERCONDUCTOR CORP /DE/ | b80566exv10w32.htm |
| 10-K - AMERICAN SUPERCONDUCTOR CORPORATION - AMERICAN SUPERCONDUCTOR CORP /DE/ | b80566e10vk.htm |
Exhibit 10.20
Executive Incentive Plan
On May 12, 2010, the Compensation Committee of the Board of Directors (the “Committee”) of
American Superconductor Corporation (the “Company”), as well as the Board of Directors of the
Company, approved an executive incentive plan for the Company’s fiscal year ending March 31, 2011
(“fiscal 2010”). Participants in the plan include the Company’s Chief Executive Officer and all
other executive officers. The Committee is responsible for determining the payout under the plan to
each executive officer except the Chief Executive Officer. The Board of Directors of the Company
determines the payout under the plan for the Chief Executive Officer, taking into account the
recommendation received from the Committee.
Pursuant to the plan, the Committee designated for each executive officer a target cash
incentive amount, expressed as a percentage of the officer’s base salary. In establishing these
targets, the Committee took into account for each officer the level of total compensation including
base salary, cash incentive and equity paid by similar companies for comparable positions based on
market data compiled by our outside compensation consultant Pearl Meyer & Partners.
The amount of the incentive award actually paid to each executive officer may be less than or
greater than the executive’s target cash incentive, with the amount capped at 156% of the target
incentive. For each executive officer, other than Mr. Collett, individual incentive awards will be
determined following the end of fiscal 2010 based on the following factors and their corresponding
weightings:
| • | the Company’s net income (loss) before amortization of acquisition-related intangibles, restructuring and impairments, stock-based compensation expense, other unusual charges and any tax effects related to these items for fiscal 2010 as compared to the target established by the Committee — 40% | ||
| • | the executive’s achievement of individual, measurable objectives during fiscal 2010 as determined by the Committee for all executives with the exception of the Chief Executive Officer, who is evaluated by the Board of Directors — 40% | ||
| • | the executive’s overall contribution during fiscal 2010 towards the achievement of the Company’s financial and non-financial objectives (subjective performance measure) — 20% |
Mr. Collett’s incentive award will be determined using the same foregoing factors, but their
corresponding weightings shall be 40%, 20% and 40%, respectively.
The following table sets forth each current executive officer’s target cash incentive for
fiscal 2010.
| Target Incentive as % of | ||||||||||
| Executive Officer | Title | Base Salary | Target Incentive | |||||||
Gregory J. Yurek
|
Chairman of the Board and Chief Executive Officer | 75 | % | $ | 450,000 | |||||
Daniel P. McGahn
|
President and Chief Operating Officer | 65 | % | $ | 214,500 | |||||
Charles W. Stankiewicz
|
Executive Vice President and General Manager, AMSC Power Systems | 50 | % | $ | 160,500 | |||||
David A. Henry
|
Senior Vice President, Chief Financial Officer, Treasurer and Secretary | 50 | % | $ | 147,500 | |||||
John R. Collett
|
Senior Vice President and Chief Strategy Officer | 50 | % | $ | 125,000 | |||||
Angelo R. Santamaria
|
Senior Vice President, Global Manufacturing Operations | 50 | % | $ | 120,000 | |||||
Timothy D. Poor
|
Senior Vice President, Global Sales and Business Development | 50 | % | $ | 120,000 | |||||
Susan J. DiCecco
|
Vice President, Corporate Administration | 50 | % | $ | 112,500 | |||||