SEC Contract Filing

Filing Date: 2023-03-27

Document Content:
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<TYPE>EX-10.5
<SEQUENCE>2
<FILENAME>utmd_ex10z5.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<DIV><P align=right style='font:10pt Times New Roman;margin:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Exhibit 10.5</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>SUMMARY of OFFICER and DIRECTOR COMPENSATION </B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>The Employment Agreement in Exhibits 7 &amp; 8 of this report is the only written contractual compensation arrangement the Company has with any of its Directors and Executive Officers. &nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>During 2023, the Company&#8217;s Chief Executive and Principal Financial Officer (the Company&#8217;s &#8220;Named Executive Officers&#8221;) are scheduled to receive the following compensation from the Company: &nbsp;</P>
<TABLE style=border-collapse:collapse;width:100%><TR><TD valign=top style=width:216pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>Compensation Arrangement</FONT></P>
</TD><TD valign=top style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:175.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>2023 Scheduled Amount</FONT></P>
</TD></TR>
<TR><TD valign=top bgcolor=#CCEEFF style=width:216pt><P style='font:10pt Times New Roman;margin:0'>Base salary</P>
</TD><TD valign=top bgcolor=#CCEEFF style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top bgcolor=#CCEEFF style=width:175.5pt><P style='font:10pt Times New Roman;margin:0'>$ &nbsp;156,000 (CEO); $130,000 (PFO)</P>
</TD></TR>
<TR><TD valign=top style=width:216pt><P style='font:10pt Times New Roman;margin:0'>401(k) matching contributions</P>
</TD><TD valign=top style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:175.5pt><P style='font:10pt Times New Roman;margin:0'> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,920 (maximum)</P>
</TD></TR>
<TR><TD valign=top bgcolor=#CCEEFF style=width:216pt><P style='font:10pt Times New Roman;margin:0'>Section 125 plan matching contributions (1)</P>
</TD><TD valign=top bgcolor=#CCEEFF style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top bgcolor=#CCEEFF style=width:175.5pt><P style='font:10pt Times New Roman;margin:0'> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 (maximum)</P>
</TD></TR>
<TR><TD valign=top style=width:216pt><P style='font:10pt Times New Roman;margin:0'>Management bonus</P>
</TD><TD valign=top style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:175.5pt><P style='font:10pt Times New Roman;margin:0'>will be determined at year-end</P>
</TD></TR>
<TR><TD valign=top bgcolor=#CCEEFF style=width:216pt><P style='font:10pt Times New Roman;margin:0'>Pet health benefits (1)</P>
</TD><TD valign=top bgcolor=#CCEEFF style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top bgcolor=#CCEEFF style=width:175.5pt><P style='font:10pt Times New Roman;margin:0'> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 (maximum)</P>
</TD></TR>
<TR><TD valign=top style=width:216pt><P style='font:10pt Times New Roman;margin:0'>Family medical benefits (1)</P>
</TD><TD valign=top style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:175.5pt><P style='font:10pt Times New Roman;margin:0'>will depend on future events </P>
</TD></TR>
<TR><TD valign=top bgcolor=#CCEEFF style=width:216pt><P style='font:10pt Times New Roman;margin:0'>Travel expense reimbursement (2)</P>
</TD><TD valign=top bgcolor=#CCEEFF style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top bgcolor=#CCEEFF style=width:175.5pt><P style='font:10pt Times New Roman;margin:0'> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,000 (CEO); 500 (PFO)</P>
</TD></TR>
<TR><TD valign=top style=width:216pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:175.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
</TABLE>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>During 2023, the Company&#8217;s Directors are scheduled to receive the following compensation from the Company:</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE style=border-collapse:collapse;width:100%><TR><TD valign=top style=width:166.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>Compensation Arrangement</FONT></P>
</TD><TD valign=top style=width:58.5pt><P align=right style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>Ernst Hoyer</FONT></P>
</TD><TD valign=top style=width:63pt><P align=right style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>Barbara Payne</FONT></P>
</TD><TD valign=top style=width:58.5pt><P align=right style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>James Beeson</FONT></P>
</TD><TD valign=top style=width:58.5pt><P align=right style='font:10pt Times New Roman;margi