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EXHIBIT 15

SUMMARY OF OFFICER AND DIRECTOR COMPENSATION

 
Except for the Employment Agreement in Exhibit 6 of this report, the Company
does not have any written contractual compensation arrangements with any of its
employees or directors, including Executive Officers.

During 2006, the Company’s Chief Executive and Chief Financial Officers (the
Company’s “Named Executive Officers”) are scheduled to receive the following
compensation from the Company:

Compensation Arrangement
 
2006 Scheduled Amount
Base salary
 
$ 256,100 (CEO); $87,700 (CFO)
401(k) matching contributions (1)
 
8,000 (maximum)
Section 125 plan matching contributions (2)
 
450 (maximum)
Management bonus
 
will be determined at year-end
Pet health benefits (2)
 
500 (maximum)
Family medical benefits (2)
 
will depend on future events
Travel expense reimbursement (3)
 
8,000 (CEO); 4,000 (CFO)
     

During 2006, the Company’s Directors are scheduled to receive the following
compensation from the Company:

Compensation Arrangement
 
Ernst Hoyer
 
Stephen Bennett
 
Barbara Payne
 
Base
 
$
20,000
 
$
20,000
 
$
20,000
 
Executive Committee
   
4,000
   
4,000
   
-
 
Audit Committee Chairman
   
2,000
   
-
   
-
 
Travel Expense Reimbursement (3)
   
500
   
500
   
700
 

(1) CFO maximum is $6,000 because he is under 50 and therefore does not qualify
for Rule 414(v)(2)(B)(ii) catchup contributions.
(2) CEO and CFO participate on the same basis as other eligible employees.
(3) Estimated 2006 travel expenses on behalf of UTMD business. The Company
reimburses its employees and directors for authorized business expenses.
 
 
 
 
 
 
 

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