Summary of Executive Officer Compensation for SCM Microsystems, Inc.

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Summary

This document outlines the compensation arrangements for executive officers of SCM Microsystems, Inc. It details base salaries, annual bonus opportunities tied to company operating profit or achievement of specific objectives, and additional benefits such as company cars and allowances. Some officers may also receive stock options in exchange for a reduction in base salary. The compensation terms vary by officer and are subject to performance conditions set by the company’s Board of Directors.

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EX-10.28 4 f06600exv10w28.htm EXHIBIT 10.28 exv10w28  

Exhibit 10.28

Summary of Executive Officer Compensation

                 
 
Executive   Base Annual       Annual Compensation   Other
Officer   Salary   Annual Bonus   under MBO Program   Compensation
 
Robert Schneider
   € 350,0001
   2004
50% of base salary, if
Registrant makes an
operating profit for second
half of 2004; and an
additional 50% of base
salary if Registrant makes
an operating profit
exceeding $2,000,000 for
the second half of 2004
   N/A
   Use of Company car, BMW 5 series
 
                
      Post 2004
 50% of base salary, if
Registrant makes an
operating profit for full
year		        
 
Steven Moore
   $200,0001   2004
50% of base salary, if
Registrant makes an
operating profit for second
half of 2004; and an
additional 50% of base
salary if Registrant makes
an operating profit
exceeding $2,000,000 for
the second half of 2004
   N/A    
 
                
      Post 2004
50% of base salary, if
Registrant makes an
operating profit for full
year
        
 
Colas Overkott
   € 200,0001   N/A
   Up to € 40,000 upon
achievement of objectives
in accordance with MBO
Program
   Use of Company car,
BMW 5 series; or
competitive car
allowance
 
               Up to € 2,500 annually
for tax consulting
resulting from European
residency outside
Germany
 
Ingo Zankel
   € 200,000
   Up to € 100,000 upon
achievement of annual
targets established by the
Board of Directors and
CEO. 		  Up to € 50,000 upon
achievement of objectives
in accordance with MBO
Program
   Use of Company car,
BMW 5 series; or up to
€ 1,250 monthly in car
allowance
 

1  This number reflects the officer’s base salary as established by SCM Microsystems’ Board of Directors, prior to the officer’s participation in the executive compensation arrangement described in the Company’s Current Report on Form 8-K filed on September 21, 2004, pursuant to which such officer may opt to receive an option to purchase 50 shares of the Company’s Common Stock for each $100 reduction in annual base salary.