Arcadia Resources, Inc. Director, CFO, and EVP Compensation Arrangements (August 2006)

Summary

Arcadia Resources, Inc. approved changes to compensation for key executives and a director. Effective June 1, 2006, the Chief Financial Officer's annual salary increases to $180,000. The Executive Vice President's annual salary increases to $175,000 effective August 1, 2006. Additionally, Director John T. Thornton's annual retainer for serving as Audit Committee Chairman is increased to $15,000, effective July 1, 2006. These changes were approved by the Board of Directors on August 4, 2006.

EX-10.2 3 k07272exv10w2.txt DESCRIPTION OF DIRECTOR, CFO AND EVP COMPENSATION ARRANGEMENTS Exhibit 10.2 Per approval of the Board of Directors of Arcadia Resources, Inc. on August 4, 2006, the Chief Financial Officer's annual base salary is increased to $180,000 effective June 1, 2006. Per approval of the Board of Directors of Arcadia Resources, Inc. on August 4, 2006, the Executive Vice President's annual base salary is increased to $175,000 effective August 1, 2006. Per approval of the Board of Directors of Arcadia Resources, Inc. on August 4, 2006, the Company increased Director John T. Thornton's annual retainer for service as Audit Committee Chairman to $15,000 annually, effective as of July 1, 2006.