INTRICON CORPORATION EXHIBIT 10.10.2 TO FORM 10-K FOR FISCAL YEAR ENDED 12-31-2008



Exhibit 10.10.2 


Summary Sheet for Executive Officer
Compensation 


Base
Salary


In December 2008, the Compensation Committee of the Board of Directors
made determinations with respect to the salaries to be paid to executive
officers in 2009 and the bonuses and stock options to be awarded to the
executive officers for services in 2008 as follows: 


	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 


	
Name


	
 

	
2009
 Annual

 Base Salary


	
 

	
2008 Annual

 Bonus


	
 

	
Stock
 Options 

 Awarded


	
 


	
Mark S.
 Gorder,

 President and Chief Executive Officer

	
 

	
$

	
350,000

	
 

	
$

	
—

	
 

	
 

	
20,000

	
 


	
Scott
 Longval,

 Chief Financial Officer and Treasurer

	
 

	
$

	
165,000

	
 

	
$

	
—

	
 

	
 

	
10,000

	
 


	
Steven M.
 Binnix,

 Vice President and General Manager of RTIE

	
 

	
$

	
175,000

	
 

	
$

	
—

	
 

	
 

	
5,000

	
 


	
Christopher
 D. Conger,

 Vice President, Research and Development

	
 

	
$

	
185,000

	
 

	
$

	
—

	
 

	
 

	
10,000

	
 


	
Michael P.
 Geraci,

 Vice President, Sales and Marketing

	
 

	
$

	
200,000

	
 

	
$

	
—

	
 

	
 

	
10,000

	
 


	
Dennis L.
 Gonsior,

 Vice President, Global Operations

	
 

	
$

	
185,000

	
 

	
$

	
—

	
 

	
 

	
10,000

	
 


	
Greg
 Gruenhagen

 Vice President of Corporate Quality

	
 

	
$

	
125,000

	
 

	
$

	
—

	
 

	
 

	
10,000

	
 





The exercise price of the stock options is equal to $4.69 per share,
the closing price of the common stock of the Company on the date of the Compensation
Committee meeting. The options will vest in three equal, annual installments
beginning one year after the date of grant, except that they will become
immediately exercisable upon a “change in control” as defined in the 2006
Equity Incentive Plan or upon the death or disability of the recipient, and
will expire ten years after the date of grant, unless terminated earlier by the
terms of the option.


2009
Incentive Plan 


In February 2009, the Compensation Committee adopted the Annual
Incentive Plan for Executives and Key Employees for Fiscal Year 2009 (the “2009
Incentive Plan”) . Pursuant to the 2009 Incentive Plan, executive officers and
selected key employees of IntriCon are eligible to receive incentive
compensation based on (i) IntriCon exceeding certain net income targets for
2009 and (ii) achievement of designated strategic objectives. A participant
will receive incentive compensation only if both the minimum net income target
and some or all of the strategic objectives are achieved. 


Based on IntriCon achieving 100% of targeted net income for 2009, Mr.
Gorder would be eligible to receive incentive compensation equal to 50% of his
2009 salary and each of the other Named Officers would be eligible to receive
incentive compensation equal to 40% of their 2009 salary. In the event that
IntriCon achieves 80% of targeted net income for 2009, Mr. Gorder would be
eligible to receive incentive compensation equal to 25% of his 2009 salary and
each of the other executive officers would be eligible to receive incentive
compensation equal to 20% of their 2009 salary. In the event that IntriCon
achieves 150% of targeted net income for 2009, Mr. Gorder would be eligible to
receive incentive compensation equal to 75% of his 2009 salary and each of the
other executive officers would be eligible to receive incentive compensation
equal to 60% of their 2009 salary. Between these points, the amount of the
incentive compensation available will increase or decrease proportionately
based upon IntriCon achieving more or less than targeted net income; however,
no incentive compensation will be paid if IntriCon achieves less than 80% of
targeted net income and the maximum incentive compensation payable is capped at
IntriCon achieving 150% of target net income. IntriCon will establish weighted
strategic objectives for the executives and, in all cases, the amount of incentive compensation paid
will depend on the extent to which strategic objectives are satisfied.



Plans
and Other Arrangements


The executive officers are also eligible to participate in the
Company’s broad-based benefit programs generally available to its salaried
employees, including health, disability and life insurance programs, and
qualified 401(k) plan. Under the Non-Employee Director and Executive Officer
Stock Purchase Program, executive officers may purchase common stock directly
from the Corporation at the last reported sale price on the date that the
election to purchase is made.