Document:

Exhibit 10.6
      

    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 2020, the Company’s Chief Executive and Principal Financial Officer (the Company’s “Named Executive Officers”) are
      scheduled to receive the following compensation from the Company:

     

    

    	
            Compensation Arrangement

          	
            2020 Scheduled Amount

          
	 	 
	
            Base salary

          	
            $  156,000 (CEO); $111,000 (PFO)

          
	
            401(k) matching contributions

          	
            6,408 (maximum)

          
	
            Section 125 plan matching contributions (1)

          	
            500 (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)

          	
            20,000 (CEO); 500 (PFO)

          

    

    

    

    

    During 2020, the Company’s Directors are scheduled to receive the following compensation from the Company:

    

    

    	
            Compensation Arrangement

          	 	
            Ernst Hoyer

          	 	 	
            Barbara Payne

          	 	 	
            James Beeson

          	 	 	
            Paul Richins

          	 
	
            Base

          	 	
            $

          	
            26,000

          	 	 	
            $

          	
            26,000

          	 	 	
            $

          	
            26,000

          	 	 	
            $

          	
            26,000

          	 
	
            Executive Committee

          	 	 	
            4,000

          	 	 	 	
            -

          	 	 	 	
            -

          	 	 	 	
            -

          	 
	
            Audit Committee Chairman

          	 	 	
            3,000

          	 	 	 	
            -

          	 	 	 	
            -

          	 	 	 	
            -

          	 
	
            Travel Expense Reimbursement (2)

          	 	 	
            500

          	 	 	 	
            500

          	 	 	 	
            500

          	 	 	 	
            50

          	 

    

    

    	
            (1)

          	
              CEO and PFO participate on the same basis as other eligible employees.

          
	 	 
	
            (2)

          	
              Estimated 2020 travel expenses on behalf of UTMD business.  The Company reimburses its employees and directors for authorized
              business expenses.Exhibit
4.7

 

Anti-Takeover
Provisions of Delaware Law and Charter Provisions

 

Interested
Stockholder Transactions. We are subject to Section 203 of the Delaware General Corporation Law, which prohibits a Delaware
corporation from engaging in any “business combination” with any “interested stockholder” for a period
of three years after the date that such stockholder became an interested stockholder, with the following exceptions:

 

	 	●	before
    such date, the board of directors of the corporation approved either the business combination or the transaction that resulted
    in the stockholder becoming an interested stockholder;
	 	 	 
	 	●	upon
    consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder
    owned at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes
    of determining the number of shares outstanding those shares owned by persons who are directors and also officers and by employee
    stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to
    the plan will be tendered in a tender or exchange offer; or
	 	 	 
	 	●	on
    or after such date, the business combination is approved by the board of directors and authorized at an annual or special
    meeting of the stockholders, and not by written consent, by the affirmative vote of at least 66-2/3% of the outstanding voting
    stock that is not owned by the interested stockholder.

 

Section
203 defines “business combination” to include the following:

 

	 	●	any
    merger or consolidation involving the corporation and the interested stockholder;
	 	 	 
	 	●	any
    sale, transfer, pledge or other disposition involving the interested stockholder of assets with a value of 10% or more of
    either the total assets or all outstanding stock of the corporation;
	 	 	 
	 	●	subject
    to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation
    to the interested stockholder;
	 	 	 
	 	●	any
    transaction involving the corporation that has the effect of increasing the proportionate share of the stock or any class
    or series of the corporation beneficially owned by the interested stockholder; or
	 	 	 
	 	●	the
    receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits
    by or through the corporation.

 

In
general, Section 203 defines “interested stockholder” as an entity or person beneficially owning 15% or more of the
outstanding voting stock of the corporation or any entity or person affiliated with or controlling or controlled by such entity
or person.

 

In
addition, some provisions of our Certificate of Incorporation and Bylaws may be deemed to have an anti-takeover effect and may
delay or prevent a tender offer or takeover attempt that a stockholder might consider in its best interest, including those attempts
that might result in a premium over the market price for the shares held by stockholders.

 

Cumulative
Voting. Our amended and restated certificate of incorporation expressly denies stockholders the right to cumulative voting
in the election of directors.

 

Classified
Board of Directors. Our board of directors is divided into three classes of directors serving staggered three-year terms.
As a result, approximately one-third of the board of directors is elected each year, which has the effect of requiring at least
two annual stockholder meetings, instead of one, to replace a majority of the members of the board. These provisions, when coupled
with the provision of our Certificate of Incorporation authorizing only the board of directors to fill vacant directorships or
increase the size of the board of directors, may deter a stockholder from removing incumbent directors and simultaneously gaining
control of the board of directors by filling the vacancies created by such removal with its own nominees. The certificate of incorporation
also provides that directors may be removed by stockholders only for cause. Since the board of directors has the power to retain
and discharge our officers, these provisions could also make it more difficult for existing stockholders or another party to effect
a change in management.

 

    	 

     

    

 

Stockholder
Action; Special Meeting of Stockholders. Our Certificate of Incorporation and Bylaws do not permit stockholders to act by
written consent. They provide that special meetings of our stockholders may be called only by the chairman of our board of directors,
our chief executive officer or a majority of our directors. Further, our Certificate of Incorporation provides that the stockholders
may amend bylaws adopted by the board of directors or specified provisions of the certificate of incorporation by the affirmative
vote of at least 66-2/3% of our capital stock.

 

Advance
Notice Requirements for Stockholder Proposals and Directors Nominations. Our Bylaws provide that stockholders seeking
to bring business before an annual meeting of stockholders, or to nominate candidates for election as directors at an annual meeting
of stockholders, must provide timely notice in writing. To be timely, a stockholder’s notice must be delivered to or mailed
and received at our principal executive offices not more than 120 days or less than 90 days prior to the anniversary date of the
immediately preceding annual meeting of stockholders. However, in the event that the annual meeting is called for a date that
is not within 30 days before or after such anniversary date, notice by the stockholder in order to be timely must be received
not later than the close of business on the 10th day following the date on which notice of the date of the annual meeting was
mailed to stockholders or made public, whichever first occurs. Our Bylaws also specify requirements as to the form and content
of a stockholder’s notice. These provisions may preclude stockholders from bringing matters before an annual meeting of
stockholders or from nominating directors at an annual meeting of stockholders.

 

Authorized
But Unissued Shares. Our authorized but unissued shares of common stock and preferred stock are available for future issuance
without stockholder approval. These additional shares may be utilized for a variety of corporate purposes, including future public
offerings to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued
shares of common stock and preferred stock could render more difficult or discourage an attempt to obtain control of Stereotaxis
by means of a proxy contest, tender offer, merger or otherwise.

 

Amendments;
Supermajority Vote Requirements. The Delaware General Corporation Law provides generally that the affirmative vote of a majority
of the shares entitled to vote on any matter is required to amend a corporation’s certificate of incorporation or bylaws,
unless either a corporation’s certificate of incorporation or bylaws require a greater percentage. Our Certificate of Incorporation
imposes supermajority vote requirements of 66-2/3% of the voting power of our capital stock in connection with the amendment of
certain provisions of our Certificate of Incorporation and Bylaws, including those provisions relating to the classified board
of directors, action by written consent and the ability of stockholders to call special meetings.

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