exv10w15



 








Exhibit 10.15




AMERICAN MEDICAL SYSTEMS HOLDINGS, INC.

2007 NAMED EXECUTIVE OFFICER COMPENSATION SUMMARY



2007 Base Salary and Option Grants. For fiscal 2007, the company’s principal executive officer,
principal financial officer and each other named executive officer will receive the base salary set
forth below (effective as of February 1, 2007), and has been granted an option to purchase the
number of shares of company common stock set forth below. All options were granted under the
company’s 2005 Stock Incentive Plan at an exercise price of $20.39 (equal to the “fair market
value” of a share of common stock on the grant date), vest over a period of four years and have a
term of seven years.




	 	 	 	 	 	 	 	 	 	 	 
	Name	 	Title	 	Base Salary	 	Options
	Martin J. Emerson

	 	President and Chief Executive Officer
	 	$	365,000	 	 	 	125,000	 
	 
	 	 	 	 	 	 	 	 	 	 
	Ross A. Longhini

	 	Executive Vice President and Chief Operating Officer
	 	$	310,000	 	 	 	50,000	 
	 
	 	 	 	 	 	 	 	 	 	 
	Mark A.
Heggestad(1)

	 	Executive Vice President and Chief Financial Officer
	 	$	265,000	 	 	 	0	 
	 
	 	 	 	 	 	 	 	 	 	 
	Lawrence W. Getlin

	 	Senior Vice President, Compliance, Quality Systems
and Legal
	 	$	247,000	 	 	 	25,000	 
	 
	 	 	 	 	 	 	 	 	 	 
	John F. Nealon

	 	Senior Vice President, Business Development
	 	$	241,000	 	 	 	25,000	 








 




			
	(1)	 	Mark A. Heggestad joined the company as the Executive Vice President and Chief Financial
Officer on December 18, 2006.




2007 Executive Variable Incentive Plan. Our executive officers participate in our 2007 Executive
Variable Incentive Plan. The Compensation Committee (and the Board of Directors with respect to
executive officers) established a target bonus for each participant in the plan. The plan provides
for payment of a bonus based on achievement of net sales, net income and free cash flow objectives
in the 2007 operating plan approved by the Board. The total bonus is weighted 50 percent for
achieving the net sales objective, 30 percent for achieving the net income objective and 20 percent
for achieving the free cash flow objective. The plan provides for payment beginning at 25 percent
of target bonus for achieving 90 percent of the net sales and net income objectives, and bonuses
for achieving these objectives are paid quarterly. The plan provides for payment beginning at 50
percent of target bonus for achieving 70 percent of the free cash flow objective, and the bonus for
achieving this objective is paid annually. The bonus payable under the plan increases with
percentage achievement relative to the objectives, and 100 percent of the target bonus is paid at
100 percent achievement of the plan objectives. The maximum bonus payable under the plan is 200
percent of the target bonus at 115 percent achievement of the net sales and net income plan
objectives, and 130 percent of the free cash flow objective. The target bonus for 2007 for the
company’s principal executive officer, principal financial officer and each other named executive
officer is set forth in the table below.




	 	 	 	 	 	 	 
	Name	 	Title	 	Target Bonus
	Martin J. Emerson

	 	President and Chief Executive Officer
	 	$	255,500	 
	 
	 	 	 	 	 	 
	Ross A. Longhini

	 	Executive Vice President and Chief Operating Officer
	 	$	155,000	 
	 
	 	 	 	 	 	 
	Mark A. Heggestad

	 	Executive Vice President and Chief Financial Officer
	 	$	132,500	 
	 
	 	 	 	 	 	 
	Lawrence W. Getlin

	 	Senior Vice President, Compliance, Quality Systems
and Legal
	 	$	98,800	 
	 
	 	 	 	 	 	 
	John F. Nealon

	 	Senior Vice President, Business Development
	 	$	108,450