Summary of Compensation Arrangements with Executive Officer Carrie L. Majeski for 2009 Fiscal Year
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Summary
This document outlines the compensation arrangement between Art’s-Way Manufacturing Co., Inc. and its President, CEO, and Principal Financial Officer, Carrie L. Majeski, for the 2009 fiscal year. Ms. Majeski's annual salary was increased from $100,000 to $120,000 through an oral agreement, and she earned approximately $117,000 during the year. There is no written employment contract, and the employment relationship is at-will.
EX-10.8 4 v175069_ex10-8.htm
Exhibit 10.8
Summary of Compensation Arrangements with Executive Officer
2009 Fiscal Year
Carrie L. Majeski currently serves as the President, Chief Executive Officer and Principal Financial Officer of Art’s-Way Manufacturing Co., Inc. (the “Company”). The “at-will” employment relationship between Ms. Majeski and the Company is not currently governed by a written employment agreement. During the 2009 fiscal year, the Company orally agreed to increase the salary paid to Ms. Majeski from an annual amount of $100,000 to an annual amount of $120,000. As a result of the increase, Ms. Majeski earned a total of approximately $117,000 during the 2009 fiscal year.
