Summary of Officer and Director Compensation for 2017 – Utah Medical Products, Inc.
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Summary
This document outlines the compensation arrangements for the executive officers and directors of Utah Medical Products, Inc. for 2017. 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, and travel reimbursements. All compensation is subject to the terms of the company's employment agreement and standard company policies. Some benefits depend on future events or are provided on the same basis as other employees.
EX-10.5 2 exh10_5.htm SUMMARY OF OFFICER AND DIRECTOR COMPENSATION
Exhibit 10.5
EXHIBIT 11
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 2017, the Company's Chief Executive and Principal Financial Officers (the Company's "Named Executive Officers") are scheduled to receive the following compensation from the Company:
| Compensation Arrangement | 2017 Scheduled Amount |
| Base salary | $ 156,000 (CEO); $117,100 (PFO) |
| 401(k) matching contributions | 6,480 (maximum) |
| Section 125 plan matching contributions (1) | 600 (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) | 30,000 (CEO); 500 (PFO) |
During 2017, the Company's Directors are scheduled to receive the following compensation from the Company:
| Compensation Arrangement | Ernst Hoyer | Barbara Payne | James Beeson | |||||||||
| Base | $ | 25,000 | $ | 25,000 | $ | 25,000 | ||||||
| Executive Committee | 4,000 | - | - | |||||||||
| Audit Committee Chairman | 3,000 | - | - | |||||||||
| Travel Expense Reimbursement (2) | 500 | 700 | 500 | |||||||||
| (1) | CEO and PFO participate on the same basis as other eligible employees. |
| (2) | Estimated 2017 travel expenses on behalf of UTMD business. The Company reimburses its employees and directors for authorized business expenses. |
