With respect to 2019, Mr. Coolidge was eligible to receive an annual bonus with a
target bonus equal to 35% of his annual base salary, with the amount of such bonus based on the achievement of certain inventory turn, disposable material cost reduction, overhead budget performance, and the chief executive officers assessment
of Mr. Coolidges performance (the 2019 Operations Bonus Criteria) as established by the Compensation Committee. The Compensation Committee determined that 200% of the 2019 Operations Bonus Criteria had been achieved, and
therefore, Mr. Coolidge would receive a bonus in an amount equal to 200% of his target bonus, or $165,500.
Mr. Armys and
Mr. Coolidges bonuses with respect to 2019 were paid in February 2020.
Mr. Ramade and Mr. Blouin were each eligible
for sales commissions according to their respective commission plans. In 2019, Mr. Blouin was eligible to earn target commissions equal to $188,458, with the actual amount of such commissions based on the achievement of U.S. capital revenue
performance and U.S. disposable revenue growth performance goals established by the Compensation Committee. The Compensation Committee determined that Mr. Blouin earned 96.8% of his annual commission, resulting in a total commission payment of
$182,362 for fiscal year 2019. Mr. Blouins commissions for fiscal year 2019 were paid on a monthly basis, with the final commission payment made in January 2020. In 2019, Mr. Ramade was eligible to earn target commissions equal to
79,950, with the actual amount of such commissions based on the achievement of goals related to international capital and disposable revenue performance and international capital unit sales to the Companys distributors as established by
the Compensation Committee. The Compensation Committee determined that Mr. Ramade earned 100.5% of his annual commission, resulting in a total commission payout of 80,311 ($89,948 using the exchange rate conversion described in note
(5) to the Summary Compensation Table above) for fiscal year 2019. Mr. Ramades commissions for fiscal year 2019 were paid on a quarterly basis with the final commission payment made in January 2020.
Agreements with our Named Executive Officers
We are party to an amended and restated employment agreement with Mr. Army, an employment agreement with Mr. Ramade, and an offer
letter with each of Mr. Blouin and Mr. Coolidge. As described below, each of Messrs. Army, Ramade, Coolidge, and Blouin is subject to certain restrictive covenants with us.
On October 17, 2018, in connection with our initial public offering, we amended and restated Mr. Armys employment agreement.
This amended and restated employment agreement provides for at will employment and has no specific term. Under the amended and restated employment agreement, Mr. Army is entitled to receive an annual base salary of $400,000 and he
is eligible to receive an annual target bonus equal to 100% of his base salary as in effect at the beginning of the applicable calendar year, subject to, and payable in accordance with, the terms and conditions of the Companys bonus plan, as
in effect from time to time.
In the event Mr. Armys employment with us is terminated by us other than for cause or he resigns
his employment for good reason (as such terms are defined in the amended and restated employment agreement), provided Mr. Army timely executes a release of claims in favor of us and continues to comply with the restrictive covenants contained
in his employment agreement related to our proprietary information and non-competition, non-solicitation, and non-disparagement,
Mr. Army would be entitled to receive (i) continuing payments of his then-current annual base salary payable over 12 months, (ii) a prorated target bonus for the year of termination, payable over 12 months, and (iii) Company
reimbursements for the difference between the monthly COBRA premium amount paid by Mr. Army for himself and his dependents and the monthly premium amount paid by similarly situated active executives for up to 12 months following termination. In
addition to the above severance payments, in the event Mr. Armys employment with us is terminated by us other than for cause or he resigns for good reason within the period beginning three months prior to and ending 12 months
following a change in control (as defined in the amended and restated employment agreement), all of Mr. Armys equity incentive awards that were outstanding immediately prior to the change in control will become vested and exercisable
(with any outstanding performance-based awards vesting at target) and, if no such termination has occurred
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