EXHIBIT 10.5

 

SUMMARY OF FISCAL 2005 EXECUTIVE BONUS PLAN

 

On April 26, 2004, the Compensation Committee (the “Committee”) of the Board of
Directors of American Superconductor Corporation (the “Company”) approved an
executive bonus program for fiscal year 2005 for certain executive officers of
the Company. Under the program, the Committee, which is comprised of three
independent non-employee directors, is responsible for determining the
compensation package for each executive officer except the Chief Executive
Officer. The Board of Directors determines the compensation package of the Chief
Executive Officer based on the recommendation it receives from the Committee.
The bonuses will be based on the Company achieving certain targeted revenue and
operating results as well as the individual performance of the executives.

 

The target bonus amount for each eligible executive officer is set forth below:

 

Name

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Title

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Target Incentive

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Gregory J. Yurek   Chief Executive Officer   $202,500 David Paratore   President
and Chief Operating Officer   $120,000 Kevin M. Bisson   Chief Financial Officer
and Treasurer   $84,400 Stuart C. Karon   Vice President, Business Development  
$48,000 Alexis P. Malozemoff   Chief Technical Officer   $73,438 Thomas M. Rosa
  Vice President, Finance and Accounting   $35,659