1.1  EXHIBIT 10.5

 

Executive Officer Compensation Arrangements (2004 Bonuses and 2005 Salaries and
Bonus Targets)

 

The following summarizes the compensation arrangements established between
NeuroMetrix, Inc. (the “Company”) and the executive officers through verbal
agreements.

 

On March 11, 2005, the Compensation Committee of the Board of Directors of the
Company determined the following compensation information for certain executive
officers of the Company:  (1) cash bonus awards for 2004, (2) base salary levels
for 2005 and (3) target cash bonuses for 2005.  This compensation information is
as follows:

 

Name

 

Title

 

2004 Bonus

 

2005 Salary

 

2005 Target
Bonus(1)

 

Shai N. Gozani, M.D., Ph.D.

 

Chairman, President and Chief Executive Officer

 

$

125,000

 

$

250,000

 

$

125,000

 

Gary Gregory

 

Chief Operating Officer

 

$

105,000

 

$

235,000

 

$

117,500

 

W. Bradford Smith

 

Chief Financial Officer

 

N/A

 

$

220,000

 

$

66,000

 

Nicholas J. Alessi

 

Director of Finance and Treasurer

 

$

10,925

 

$

114,713

 

N/A

(2)

Guy Daniello

 

Senior Vice President of Information Technology

 

$

29,547

 

$

165,375

 

$

33,075

 

Michael Williams

 

Senior Vice President of Engineering

 

$

56,640

 

$

176,400

 

$

35,280

 

 

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(1)              The award of cash bonuses in 2005 will be determined by the
Compensation Committee based on the executive officer’s and the Company’s
achievement of a number of objective and subjective goals specifically
established for each executive officer by the Compensation Committee.

 

(2)     As of March 11, 2005, Nicholas J. Alessi was no longer deemed to be an
executive officer of the Company.

 

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