Utah Medical Products (UTMD) 10-K2005 FY Annual report

Filed: 16 Mar 06, 12:00am

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EXHIBIT 15

SUMMARY OF OFFICER AND DIRECTOR COMPENSATION

Except for the Employment Agreement in Exhibit 6 of this report, the Company does not have any written contractual compensation arrangements with any of its employees or directors, including Executive Officers.

During 2006, the Company’s Chief Executive and Chief Financial Officers (the Company’s “Named Executive Officers”) are scheduled to receive the following compensation from the Company:

Compensation Arrangement		2006 Scheduled Amount
Base salary		$ 256,100 (CEO); $87,700 (CFO)
401(k) matching contributions (1)		8,000 (maximum)
Section 125 plan matching contributions (2)		450 (maximum)
Management bonus		will be determined at year-end
Pet health benefits (2)		500 (maximum)
Family medical benefits (2)		will depend on future events
Travel expense reimbursement (3)		8,000 (CEO); 4,000 (CFO)

During 2006, the Company’s Directors are scheduled to receive the following compensation from the Company:

Compensation Arrangement	Ernst Hoyer		Stephen Bennett		Barbara Payne
Base	$	20,000	$	20,000	$	20,000
Executive Committee		4,000		4,000		-
Audit Committee Chairman		2,000		-		-
Travel Expense Reimbursement (3)		500		500		700

(1) CFO maximum is $6,000 because he is under 50 and therefore does not qualify for Rule 414(v)(2)(B)(ii) catchup contributions.

(2) CEO and CFO participate on the same basis as other eligible employees.

(3) Estimated 2006 travel expenses on behalf of UTMD business. The Company reimburses its employees and directors for authorized business expenses.