I'm drawing a blank on the function of the diode, but I'm going to guess it's suppose to help turn the transistor off?
So the open end of R3 has a either a low input, or, +5 via a pullup. VDD is +24 vdc
When the circuit it "on", it provides +24 vdc from VDD through the collector to another circuit.
Help me remember what I've forgotten, or, what I never knew.....lol
Thanks!