Attached files
EXHIBIT
12
SUMMARY
OF OFFICER AND DIRECTOR COMPENSATION
Except
for the Employment Agreement in Exhibit 6 of this report, the Company does not
have any written contractual compensation arrangements with any of its employees
or directors, including Executive Officers.
During
2010, 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
|
2010
Scheduled Amount
|
|
|
Base
salary
|
$ 256,100
(CEO); $101,000 (PFO)
|
|
|
401(k)
matching contributions
|
5,880
(maximum)
|
|
|
Section
125 plan matching contributions (1)
|
450
(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)
|
8,000
(CEO); 2,000 (PFO)
|
During
2010, the Company’s Directors are scheduled to receive the following
compensation from the Company:
|
Compensation
Arrangement
|
Ernst
Hoyer
|
Barbara
Payne
|
James
Beeson
|
|||||||||
|
Base
|
$ | 21,000 | $ | 21,000 | $ | 21,000 | ||||||
|
Executive
Committee
|
4,000 | - | - | |||||||||
|
Audit
Committee Chairman
|
2,000 | - | - | |||||||||
|
Travel
Expense Reimbursement (2)
|
500 | 700 | 500 | |||||||||
(1) CEO
and PFO participate on the same basis as other eligible employees.
(2) Estimated
2010 travel expenses on behalf of UTMD business. The Company
reimburses its employees and directors for authorized business
expenses.