EXHIBIT 10.14
AXCELIS TECHNOLOGIES, INC.
EXECUTIVE OFFICER CASH COMPENSATION AT MARCH 1, 2005
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 10.8 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. The following table sets forth the annual base salary and
annual target bonus opportunity under the 2005 Axcelis Team Incentive Plan as communicated to the executive
officers of the Company as in effect on March 1, 2005:
The Axcelis Team Incentive Plan for Executive Officers adopted by the Compensation Committee of the Board
of Directors on January 26, 2005 is filed as Exhibit 10.12 to this Form 10-K (incorporated by reference to
Exhibit 10.1 to the Company's Report on Form 8-K filed with the Commission on January 31, 2005). A
description of the implementation of such plan for the fiscal year ending December 31, 2005 is described in such
Form 8-K.
OTHER COMPENSATION PLANS. Executives also participate in benefit p