Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 3, 2009, Yuval Wasserman was appointed as Executive Vice President and Chief Operating Officer of Advanced Energy Industries, Inc. (the "Company"), effective immediately. Mr. Wasserman, age 54, joined the Company in August 2007 as Senior Vice President, Sales, Marketing and Service, and was later promoted in October 2007 to Executive Vice President, Sales, Marketing and Service. Prior to joining Advanced Energy, Mr. Wasserman served as the President and CEO of Tevet Process Control Technologies, Inc. from May 2002 until July 2007, where he led the development and growth of the company. Prior to that, he held senior executive and general management positions at Boxer Cross (metrology company:
acquired by Applied Materials, Inc.), Fusion Systems (a division of Axcelis Technologies, Inc.), AG Associates (RTP), and National Semiconductor. In connection with his appointment, the Compensation Committee of the Board of Directors of the Company approved an increase in Mr. Wasserman's annual base salary to $340,000; such increase to be delayed, however, subject to reversal of the salary freeze and reductions currently applicable to executive officers and other employees of the Company. All other elements of Mr. Wasserman's compensation, including his target cash incentive percentage of 60% of annual base salary under the Company's 2009 variable compensation plan, remain at current levels.
Mr. Wasserman does not have an employment agreement with the Company, but is party to an Executive Change in Control Agreement (the "CIC Agreement"), which provides Mr. Wasserman with severance payments and certain benefits in the event of his termination without Cause or other Involuntary Termination (such capitalized terms being defined in the CIC Agreement) following an actual or during a pending change in control. The CIC Agreement is filed as an exhibit to the Company's annual report on Form 10-K for the year ended December 31, 2008. Item 9.01 Financial Statements and Exhibits.
(d) The following exhibit is furnished pursuant to Item 5.02:

99.1 Press release dated April 7, 2009 by Advanced Energy Industries, Inc.

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