Summary of SHARPS COMPLIANCE CORP

Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Incentive Compensation Awards

On July 28, 2009, the Compensation Committee of the Board of Directors (the
"Committee") approved the following incentive compensation awards to Company
officers under the Executive Incentive Compensation Plan (the "Plan"). The
awards were related to Company financial performance and achievement of goals as
well as individual performance for the fiscal year ending June 30, 2009:

Officer                                        Cash Bonus Stock Options
Dr. Burton J. Kunik, CEO                        $104,000     60,000
David P. Tusa, Executive V.P. and CFO           $100,000     60,000
Claude A. Dance, Sr. V.P., Sales and Marketing  $50,000      25,000
Al Aladwani, Sr. V.P. Operations                $25,000      20,000

The stock options were granted under the Company's 1993 Stock Plan with an exercise price equal to the fair market value of the Company's common stock at date of grant ($8.50 per share on July 28, 2009) and vest over a three (3) year period (33.3% at each July 28, 2010, 2011 and 2012).

The Plan was approved by the Committee on June 6, 2008, a copy of which was included as an Exhibit to Form 8-K dated June 9, 2008.