Summary of Officer and Director Compensation for 2014 – Utah Medical Products, Inc.

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the scheduled compensation for Utah Medical Products, Inc.'s executive officers and directors for 2014. The CEO and Principal Financial Officer will receive base salaries, 401(k) and Section 125 plan matching contributions, potential management bonuses, health benefits, and travel expense reimbursements. Directors will receive base compensation, additional committee fees where applicable, and travel expense reimbursements. All compensation is subject to company policies and may depend on future events or year-end determinations. The only written employment contract is with the CEO, as referenced in another exhibit.

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EX-10.9 2 exhibit15.htm SUMMARY OF OFFICER AND DIRECTOR COMPENSATION exhibit15.htm
EXHIBIT 15

SUMMARY OF OFFICER AND DIRECTOR COMPENSATION


The Employment Agreement in Exhibit 6 of this report is the only written contractual compensation arrangement the Company has with any of its directors and Executive Officers.

During 2014, 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
  
 
2014 Scheduled Amount
Base salary
  
$  234,000 (CEO); $109,300 (PFO)
401(k) matching contributions
  
        6,120 (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)
  
       15,000 (CEO); 500 (PFO)
     


During 2014, 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 2014 travel expenses on behalf of UTMD business.  The Company reimburses its employees and directors for authorized business expenses.