Executive Compensation Arrangements for Michael A. Floyd and Thomas J. Francis

Summary

This agreement outlines the compensation terms for Michael A. Floyd and Thomas J. Francis, who do not have formal employment contracts with the company. Mr. Floyd will receive an annual salary of $180,000, and Mr. Francis will receive $150,000. Both are eligible for bonuses based on the company's 2004 EBITDA performance and have access to standard employee benefits, including health insurance, retirement plans, and paid time off.

EX-10.16 2 g94292exv10w16.txt EX-10.16 EXECUTIVE COMPENSATION ARRANGEMENTS EXHIBIT 10.16 OTHER NAMED EXECUTIVE OFFICER ARRANGEMENTS The named executive officers who do not have employment agreements with the Company are Michael A. Floyd and Thomas J. Francis. The following is a summary of the compensation agreement between the Company and these named executive officers: - Annual salaries for Mr. Floyd and Mr. Francis are $180,000 and $150,000, respectively - Eligibility for bonus based on the Company's EBITDA performance against the 2004 plan approved by the Company's Board of Directors - Eligible for benefits available to Company employees, including: Medical Insurance, Dental Insurance, Vision Insurance, Prescription Drug Benefits, Supplemental Life & AD&D, Long Term Disability, Short Term Disability, Basic Life and Basic AD&D, Employee Assistance Program, 401(k) Plan, Paid Time Off, Wellness Program and Educational Assistance