EX-10.1 2 utahmedexh10.htm SUMMARY OF OFFICER AND DIRECTOR COMPENSATION utahmedexh10.htm
Exhibit 10.1
EXHIBIT 16

SUMMARY OF OFFICER AND DIRECTOR COMPENSATION


The Employment Agreement in Exhibit 7 of this report is the only written contractual compensation arrangement the Company has with any of its directors and Executive Officers.

During 2015, the Company’s Chief Executive and Principal Financial Officers (the Company’s “Named Executive Officers”) are scheduled to receive the following compensation from the Company:
 
Compensation Arrangement
  
2015 Scheduled Amount
Base salary
  
$ 234,000 (CEO); $112,600 (PFO)
401(k) matching contributions
  
6,360 (maximum)
Section 125 plan matching contributions (1)
  
600 (maximum)
Management bonus
  
will be determined at year-end
Pet health benefits (1)
  
500 (maximum)
Family medical benefits (1)
  
will depend on future events
Travel expense reimbursement (2)
  
30,000 (CEO); 500 (PFO)
 
During 2015, the Company’s Directors are scheduled to receive the following compensation from the Company:

Compensation Arrangement
  
Ernst Hoyer
    
Barbara Payne
    
James Beeson
  
Base
   $ 25,000     $ 25,000     $ 25,000  
Executive Committee
     4,000       -       -  
Audit Committee Chairman
     3,000       -       -  
Travel Expense Reimbursement (2)
     500       700       500  

(1) CEO and PFO participate on the same basis as other eligible employees.
 
(2) Estimated 2015 travel expenses on behalf of UTMD business. The Company reimburses its employees and directors for authorized business expenses.