Axcelis Technologies, Inc.
Executive Officer Cash Compensation at March 1, 2006
Base Salaries and Bonus Opportunities . Other than in the case of Mary G. Puma, Axcelis Technologies, Inc.
(the “Company”) has not entered into any written agreements with its executive officers addressing the amount of
base salary or bonus opportunity due to the executive. The Company’s Employment Agreement with Ms. Puma
is filed as Exhibit 10.14 to this Form 10-K (incorporated by reference to Exhibit 10.5 to the Company’s
Registration Statement on Form S-1 (Registration No. 333-36330)). The Company maintains that all executive
officers, other than Ms. Puma, are employees at will and that the Company has no obligation to pay base salary
or bonuses, other than amounts accrued for services rendered prior to termination of employment and other than
in circumstances where the Change of Control Agreements described below are applicable.
In the course of the employment relationship with each executive officer, the Company communicates to
executive officers the amount of base salary and a target bonus opportunity approved by the Compensation
Committee of the Board of Directors, which compensation is subject to change in the discretion of the
Compensation Committee of the Board of Directors. In establishing this cash compensation, the Compensation
Committee applied its compensation philosophy to provide base salaries and target bonus compensation within
the 50 th percentile of such categories of compensation paid by similar companies for comparable positions,
based on market benchmarking data compiled by external consulting firms
The following table sets forth the annual base salary and annual target bonus opportunity under the 2006 Axcelis
Team Incentive Plan as communicated to the executive officers of the Company as in effect on March 1, 2006:
The Axcelis Team Incentive Plan for Executive Officers is filed as Exhibit 10.3 to this Form 10-K (incorporated
by reference to Exhib