Summary of Officer and Director Compensation for Utah Medical Products, Inc. (2021)

Summary

This document outlines the compensation arrangements for the executive officers and directors of Utah Medical Products, Inc. for 2021. The Chief Executive Officer and Principal Financial Officer receive base salaries, 401(k) and Section 125 plan matching contributions, potential bonuses, health benefits, and travel expense reimbursements. Directors receive base compensation, additional committee fees where applicable, and travel expense reimbursements. All compensation is subject to the terms of the company's employment agreement and company policies.

EX-10.5 2 utmd_ex10z5.htm EXHIBIT 10.5

          Exhibit 10.5

SUMMARY of OFFICER and DIRECTOR COMPENSATION

 

 

The Employment Agreement in Exhibits 7 & 8 of this report is the only written contractual compensation arrangement the Company has with any of its Directors and Executive Officers.  

 

During 2021, the Company’s Chief Executive and Principal Financial Officer (the Company’s “Named Executive Officers”) are scheduled to receive the following compensation from the Company:  

 

Compensation Arrangement

 

 

2021 Scheduled Amount

Base salary

 

$  156,000 (CEO); $113,000 (PFO)

401(k) matching contributions

 

       6,408 (maximum)

Section 125 plan matching contributions (1)

 

          500 (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)

 

      5,000 (CEO); 500 (PFO)

 

 

 

 

 

During 2021, the Company’s Directors are scheduled to receive the following compensation from the Company:

 

Compensation Arrangement

Ernst Hoyer

Barbara Payne

James Beeson

Paul Richins

Base

$  28,000

$  28,000

$  28,000

$28,000

Executive Committee

4,000

-  

-

-

Audit Committee Chairman

4,000

-  

-

-

Travel Expense Reimbursement (2)

250

450

400

50

 

(1)   CEO and PFO participate on the same basis as other eligible employees.

(2)   Estimated 2021 travel expenses on behalf of UTMD business.  The Company reimburses its employees and directors for authorized business expenses.