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AXCELIS TECHNOLOGIES, INC.
EXECUTIVE SEPARATION AGREEMENT
THIS EXECUTIVE SEPARATION AGREEMENT, dated as of October 18, 2007, is made by and between Axcelis
Technologies, Inc. (hereinafter referred to as the "Company") and Mark J. Namaroff (hereinafter referred to as "Executive"). In
consideration of the mutual covenants contained herein, the parties agree as follows:
1. Termination Date. Executive's employment with the Company will terminate on November 9, 2007 (the "Termination
Date"). As described in Section 2, Executive will receive the separation pay and benefits under this Agreement. Prior to the
Termination Date, the Executive shall cooperate with the reasonable requests of the Company to support the transition of the
Executive's duties to other Company personnel.
2. Termination Compensation.
2.1. Separation Pay. The Company will make the following lump sum payments to the Executive:
(a) within 30 days of the Termination Date (or Executive's date of execution of this Agreement, whichever is
later), an amount equal to $15,000, less legally required payroll tax deductions; and
(b) not later than January 18, 2008, an amount equal to $138,750.48, less legally required payroll tax
totaling $153,750.48, which equals 39 weeks of the Executive's base pay at the rate of $3,942.32 per week.
2.2. Axcelis Time Management (ATM). After the Termination Date, Executive will receive a lump sum amount
for his accrued ATM balance, if any. Overdrawn ATM time will be deducted from Executive's final paycheck.
2.3. COBRA Payments. If Executive elects to continue health coverage under the Company's health plan in
accordance with the continuation requirements of COBRA, the Company will pay for the full cost of such coverage until
the earlier of (i) the date Executive begins full-time employment