Exhibit 10.7

Summary Sheet for Executive Officer Compensation

Base Salary

Effective April 1, 2009, in an effort to reduce costs during the economic slowdown, the Company effected reductions in the salaries of officers and employees. Mr. Gorder’s salary was reduced by 20%, the salaries of each of our other executive officers were reduced by 15% and the salaries of our employees were reduced by 5-10%. There has been no defined timeline for restoring the employee salaries or directors quarterly retainer installments and meeting fees.

In December 2009 and February 2010, the Compensation Committee considered the base salaries of the executive officers for 2010. The Compensation Committee increased the base salary of Mr. Gruenhagen to $150,000, retroactive to January 1, 2009, but subject to the 15% salary reduction for executive officers. The Compensation Committee determined that due to the economic climate, the base salaries of the other executive officers would not be increased. In February 2010, the Compensation Committee made determinations with respect to the bonuses and stock options to be awarded to the executive officers for services in 2009 as follows:

*Amounts shown do not reflect temporary salary reductions of 20% for Mr. Gorder and 15% for all other executive officers.

The exercise price of the stock options is equal to $3.16 per share, the closing price of the common stock of the Company on the date of the Compensation Committee meeting. The options will vest and become exercisable (which may be in whole or in part as determined by the Committee) on or after December 31, 2011 based on the Company’s satisfaction of certain strategic objectives established by the Committee, except that the options will become immediately exercisable upon a “change in control” as defined in the 2006 Equity Incentive Plan or the death or disability of the recipient, and will expire ten years after the date of grant, unless terminated earlier by the terms of the option. The Committee has the discretion to determine whether the strategic objectives have been satisfied and to adjust the strategic objectives and vesting of the options as circumstances warrant.

2010 Incentive Plan

In February 2010, the Compensation Committee adopted the 2010 Incentive Plan, which is not set forth in a written agreement. Pursuant to the 2010 Incentive Plan, certain executive officers of IntriCon are eligible to receive incentive compensation based on (i) IntriCon achieving a designated level of adjusted income from continuing operations for 2010, referred to as the “plan target” and (ii) achievement of designated strategic objectives. A participant will receive incentive compensation only if both the minimum plan target and some or all of the strategic objectives are achieved. Based on IntriCon achieving from 80% to 150% of the plan target for 2010 and achieving all strategic objectives, Mr. Gorder will be eligible to receive incentive compensation ranging from 25% to 75%, respectively, of his 2010 salary and each of the other executive officers named below will be eligible to receive incentive compensation ranging from 20% to 60%, respectively, of their 2010 salary. Between these points, the amount of the incentive compensation available will increase or decrease proportionately based upon IntriCon achieving more or less than the plan target; however, no incentive compensation will be paid if IntriCon achieves less than 80% of the plan target and the maximum incentive compensation payable is capped at IntriCon achieving 150% of the plan target. The plan target is based on 2010 income from continuing operations, as adjusted to add back stock option expense for 2010; provided, that the plan target will not be achieved unless all 2010 salary reductions to all employees have been paid or accrued (and therefore reflected in 2010 income from continuing operations). Further, the plan target must be achieved after accruing any incentive compensation payable under the 2010 Incentive Plan.

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