EXHIBIT 10.24

 

Compensatory Arrangements with Executive Officers

 

Base Salary

 

The current annual base salaries of each of the executive officers of PLC Systems Inc. (the “Company”) are as follows:

 

Mark R. Tauscher, President and Chief Executive Officer

 

$

310,247

 

 

 

 

 

James G. Thomasch, Senior Vice President of Finance and Administration, Chief Financial Officer and Treasurer

 

$

194,776

 

 

 

 

 

Kenneth J. Luppi, Vice President of Operations

 

$

164,625

 

 

 

 

 

Vincent C. Puglisi, Managing Director, International

 

$

161,537

 

 

Other Compensation

 

Mr. Tauscher and Mr. Thomasch each currently receive an annual car allowance of $12,000.  Mr. Luppi and Mr. Puglisi each currently receive an annual car allowance of $6,000.

 

The Compensation Committee may also, from time to time, award each of the executive officers compensation in the form of stock options granted under the Company’s 2005 Stock Incentive Plan, as amended.