SEC Contract Filing

Filing Date: 2023-08-22

Document Content:
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<TYPE>EX-10.26
<SEQUENCE>4
<FILENAME>elmd230887_ex10-26.htm
<DESCRIPTION>FISCAL YEAR 2024 OFFICER BONUS PLAN
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.26</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fiscal Year 2024 Officer Bonus Plan</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Personnel and Compensation Committee of the Board of Directors
of Electromed, Inc. (the &ldquo;Company&rdquo;) has established the Fiscal Year 2024 Officer Bonus Plan (the &ldquo;Bonus Plan&rdquo;)
for officers of the Company, including its named executive officers. The Bonus Plan is effective for the fiscal year ending June
30, 2024 and provides an opportunity for each participant to earn an annual cash bonus based on Company revenue growth and earnings
before taxes (&ldquo;EBT&rdquo;) versus the fiscal year ended June 30, 2023. The committee has established target payouts of 50%
and 30% of annual base salary for our Chief Executive Officer and Chief Financial Officer, respectively, under the Bonus Plan.
The following summarizes the potential payments under the Bonus Plan:</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Company revenue or EBT growth below minimum performance will not result in any payouts under the Bonus Plan. Revenue growth
will be weighted at 67% and EBT growth weighted at 33%.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Company revenue and EBT growth between minimum and target performance will result in a potential bonus payout starting at 43%
and increasing up to a total of 100% of the participant&rsquo;s respective target payout depending on the growth mix between revenue
and EBT.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Company revenue and EBT growth above target performance will result in a potential bonus payout equal to 100% or more of the
participant&rsquo;s respective target payout up to 250% of target payout.</TD></TR></TABLE>

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