Electromed, Inc. Summary of Director Compensation Arrangements (Adopted February 11, 2011)
Electromed, Inc. has established compensation terms for its non-employee directors. Directors receive a cash payment of $1,000 for each board meeting attended and $500 for each committee meeting attended. Audit committee members receive an additional $1,000 retainer in the first fiscal quarter and $500 in each of the remaining quarters. The company also reimburses directors for out-of-pocket expenses related to board duties. These arrangements outline the compensation and reimbursement structure for directors' service to the company.
Exhibit 10.1
Electromed, Inc. (the “Company”)
Summary of Compensation Arrangements with Directors
Adopted February 11, 2011
Each of the Company’s non-employee directors shall receive a cash retainer of $1,000 per board meeting attended and $500 per committee meeting attended. In addition, members of the audit committee will be paid a $1,000 retainer during the first fiscal quarter, reflecting the audit committee’s responsibilities related to fiscal year-end audit, and $500 retainer during the second, third, and fourth fiscal quarters.
The Company shall also reimburse all directors for out-of-pocket expenses related to their attendance at board meetings and performance of other services as Board members.
