Attached files

file filename
EX-10.10 - SUMMARY OF NON-EMPLOYEE DIRECTORS - Stereotaxis, Inc.d315040dex1010.htm
EX-10.19F - SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT - Stereotaxis, Inc.d315040dex1019f.htm
EX-10.20E - AMENDED AND RESTATED EXPORT-IMPORT BANK LOAN AND SECURITY AGREEMENT - Stereotaxis, Inc.d315040dex1020e.htm
EX-10.22B - INTERCREDITOR AGREEMENT - Stereotaxis, Inc.d315040dex1022b.htm
EX-10.2G - FORM OF RESTRICTED SHARE UNIT TERMS OF AWARD - Stereotaxis, Inc.d315040dex102g.htm
EX-10.22A - LOAN AGREEMENT - Stereotaxis, Inc.d315040dex1022a.htm
EX-10.5D - AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT - Stereotaxis, Inc.d315040dex105d.htm
EX-10.4C - FORM OF RESTRICTED SHARE UNIT AGREEMENT, DIRECTOR AWARD - Stereotaxis, Inc.d315040dex104c.htm
EX-10.8 - SUMMARY OF MANAGEMENT BONUS PLAN - Stereotaxis, Inc.d315040dex108.htm
EX-10.7B - FORM OF AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT - Stereotaxis, Inc.d315040dex107b.htm
EX-10.7A - FORM OF EXECUTIVE EMPLOYMENT AGREEMENT BETWEEN CERTAIN EXECUTIVE OFFICERS - Stereotaxis, Inc.d315040dex107a.htm
EX-23.1 - CONSENT OF ERNST & YOUNG LLP - Stereotaxis, Inc.d315040dex231.htm
EX-31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION - Stereotaxis, Inc.d315040dex311.htm
EX-31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION - Stereotaxis, Inc.d315040dex312.htm
EX-32.1 - SECTION 1350 CERTIFICATION - Stereotaxis, Inc.d315040dex321.htm
EX-32.2 - SECTION 1350 CERTIFICATION - Stereotaxis, Inc.d315040dex322.htm
EXCEL - IDEA: XBRL DOCUMENT - Stereotaxis, Inc.Financial_Report.xls
10-K - FORM 10-K - Stereotaxis, Inc.d315040d10k.htm
EX-10.13I - SEVENTH AMENDMENT TO THE DEVELOPMENT ALLIANCE AND SUPPLY AGREEMENT - Stereotaxis, Inc.d315040dex1013i.htm

Exhibit 10.9

ANNUAL CASH COMPENSATION OF EXECUTIVE OFFICERS

The named executive officers of Stereotaxis, Inc. (the “Company”) have their base salaries determined yearly by the Compensation Committee (the “Committee”) of the Board of Directors. The executive officers are all “at will” employees, and each has a written employment agreement which is filed, as required, as an exhibit to reports filed by the Company under the Securities Exchange Act of 1934. Messrs. Kaminski, Bruce, Cheng and Ms. Duros proposed and agreed to voluntary base salary reductions for the period from October 1, 2011 through March 31, 2013. Each of said named executive officers entered into an amendment to his or her respective employment agreement on October 10, 2011, providing for the base salary reduction. On February 14, 2012, the Committee considered the base salaries for named executive officers of the Company and made no adjustments. Also, the Committee made no awards to the named executive officers under the Company’s 2011 bonus plan (the “2011 Plan”). The 2011 Plan was designed to reward the accomplishments of these officers on behalf of the Company in 2011 pursuant to and consistent with the objective of the Company’s bonus plan, as determined by the Committee. The 2011 base salaries, 2011 bonuses and 2012 base salaries are summarized in the following table:

 

     2011 Salary as  of
February 15, 2011
     2011 Salary as of
October 1, 2011
     2011 Bonus      2012 Salary  

Douglas M. Bruce

           

Chief Technology/Operations Officer

   $ 325,000       $ 292,500       $ 0       $ 292,500   

Frank J. Cheng

           

Senior Vice President, Marketing and Business

Development, General Manager, Odyssey Business

   $ 285,000       $ 256,500       $ 0       $ 256,500   

Samuel W. Duggan II 1

           

Chief Financial Officer

   $ 270,000       $ 270,000       $ 0       $ 270,000   

Karen W. Duros

           

Senior Vice President, General Counsel & Secretary

   $ 270,000       $ 243,000       $ 0       $ 243,000   

Daniel J. Johnston 2

           

Chief Financial Officer

   $ 325,000         N/A        
 
N/
A
 
  
     N/A   

Michael P. Kaminski

           

President & Chief Executive Officer

   $ 420,000       $ 352,000       $ 0       $ 352,000   

 

The Company intends to provide additional information regarding other compensation awarded to the named executive officers in respect of and during the 2011 fiscal year in the proxy statement for its 2012 annual meeting of stockholders, which is expected to be filed with the Securities and Exchange Commission in April 2012.

As determined by the Committee at the February meeting, the 2012 annual bonus program will be based on management achieving certain objectives established in the committee for the first six months of 2012, the second six months of 2012, and the full year.

 

1 

Mr. Duggan joined the Company on October 1, 2011.

2 

Mr. Johnston resigned from the Company effective August 15, 2011.