Stereotaxis
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S-1/A
STEREOTAXIS, INC. filed this Form S-1/A on 06/17/2004
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       Effective following completion of this offering, we intend to provide non-employee directors with cash compensation for their services as board members in addition to being reimbursed for their out-of-pocket expenses incurred in connection with attending board and committee meetings. Each director will receive an $18,000 annual retainer for board membership and a $2,500 annual retainer per committee membership.

       In the past, we also granted directors options to purchase our common stock pursuant to the terms of our 1994 Stock Option Plan. See “— Employee Benefit Plans”.

       We made total payments of $5,000 in 2002 and $25,000 in 2003 to Mr. Kelley, one of our directors, as compensation for consulting services.

Executive Compensation

       The following table sets forth certain information concerning the compensation of our chief executive officer, each of our other three most highly compensated executive officers whose aggregate cash compensation exceeded $100,000 during the year ended December 31, 2003 and one other individual who would have been among the four most highly compensated executive officers except that such individual was not serving as an executive officer at December 31, 2003. We refer to these persons as the “named executive officers” elsewhere in this prospectus.

Summary Compensation Table

                                                 
Long Term
Compensation

Annual Compensation Securities All Other

Other Annual Underlying Compensation
Name and Principal Position Year Salary Bonus(1) Compensation(4) Options(#) ($)







Bevil J. Hogg
    2003     $ 306,000     $ 70,200     $ 1,344       250,000     $  
President and Chief
    2002       297,917       48,750       667       350,000        
Executive Officer
    2001       272,917       40,000       403       500,000        
Michael P. Kaminski
    2003       244,800       56,160       238       50,000        
Chief Operating Officer
    2002       169,231       27,625       152       500,000       3,578 (2)
      2001                                
Douglas Bruce
    2003       243,003       55,598       352       25,000       923 (2)
Senior Vice President,
    2002       236,133       63,610       346       175,000       16,458 (2)
Research & Development
    2001       168,014       27,500       124       300,000       23,547 (2)
Melissa Walker
    2003       165,250       37,913       210       100,000        
Vice President, Regulatory,
    2002       161,000       30,000       198       50,000        
Quality and Clinical Affairs
    2001       123,942       16,667       140       150,000       78  
Nicola J.H. Young(3)
    2003       196,000       45,000       192       150,000       45,630 (5)
Consultant and Former
    2002       209,167       34,125       171       25,000        
Senior Vice President and
    2001       195,597       37,500       104       400,000       3,486 (2)
Chief Financial Officer
                                               


(1)  These amounts represent bonuses earned during the fiscal years ended December 31, 2003, 2002 and 2001, respectively. Annual bonuses earned during a fiscal year are generally paid in the first quarter of the subsequent fiscal year.
 
(2)  Represents non-qualified moving expenses reimbursed by us for the executive officer’s relocation in connection with commencement of employment with us.
 
(3)  Ms. Young resigned as our Senior Vice President and Chief Financial Officer effective December 1, 2003.
 
(4)  Represents compensation related to group term life insurance premiums paid by Stereotaxis.
 
(5)  Represents amounts paid pursuant to a separation agreement, including payout of accrued but unused vacation time, moving expenses and fees for consulting services. For more information

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