QuickLinks -- Click here to rapidly navigate through this document

Exhibit 10.53

Boston Scientific Executive Allowance Plan:

Plan Description

--------------------------------------------------------------------------------

Purpose   The Boston Scientific Corporation ("Boston Scientific") Executive
Allowance Plan ("Plan") is an executive benefit designed to provide a cash
allowance for eligible individuals in lieu of perquisites typically provided by
other companies such as a company car, health care costs not otherwise covered
by Boston Scientific or Tax Planning Services.

--------------------------------------------------------------------------------

Eligibility   Boston Scientific employees who are on the U.S. payroll and who
are members of Boston Scientific's Executive Committee (as designated by the
Board of Directors of Boston Scientific) or are Division Presidents are eligible
to receive an executive allowance.

--------------------------------------------------------------------------------

Annual Allowance Amount (Pre-tax)   •   Executive Committee Members   $25,000
per year     •   Division Presidents   $15,000 per year

--------------------------------------------------------------------------------

Accruals and Payments   Payments under this Plan are made two times per year,
and are subject to applicable withholdings, but are not "grossed up." Payments
are made during the final payroll cycles in June and December respectively, at a
rate of one-half the annual amount. Benefits accrue monthly, are paid in arrears
and are prorated to the nearest full month of service for participants who
become eligible or lose eligibility for the Plan during the Plan (calendar)
year. Partial months of eligibility will be treated as full months for the
purposes of this policy. Final prorated payments for terminated employees are
made in the June or December following the employee's termination.

--------------------------------------------------------------------------------

Administration   Roles and Responsibilities:     It is the responsibility of the
Director of the Global Benefits, as the Plan Administrator to:     •   oversee
the administration of the Plan according to its terms;     •   audit the
payments made under the Plan (e.g., the amount and the timeliness of payments);
    •   determine whether amendments or updates to the Plan are necessary;     •
  communicate Plan amendments and updates to Plan participants and the Payroll
Department; and     •   maintain the Plan and make it available upon request to
participants.
 
 
In addition, the Payroll Department is responsible for making payments to Plan
participants according to the Plan.
 
 
Plan Changes and Modifications:     Subject to any required approval of the
Board of Directors of Boston Scientific, Plan changes require the approval of
the Executive Vice President of Human Resources and the Executive Vice President
and General Counsel who may interpret this Plan within their sole discretion.
This Plan may be modified, amended or terminated without advance notice. This
Plan does not create a contract of employment.
Questions?
 
Human Resources and Plan participants should consult with the Global Benefits
Department concerning any questions they may have.

--------------------------------------------------------------------------------

QuickLinks

Exhibit 10.53

Boston Scientific Executive Allowance Plan