Compensation Arrangements for Named Executive Officers of First Aviation Services, Inc. (as of February 1, 2007)

Summary

This document outlines the compensation terms for certain executive officers of First Aviation Services, Inc. as of February 1, 2007. It specifies the base salaries, eligibility for discretionary bonuses, and benefits for Michael Culver and Robert Malachowski, and references separate agreements for Aaron Hollander and Bill Reznicek. The arrangements include annual salaries, potential bonuses determined by the Board, and standard company benefits for senior managers or salaried employees.

EX-10.25 5 a5389301ex10_25.txt EXHIBIT 10.25 Exhibit 10.25 COMPENSATION ARRANGEMENTS WITH CERTAIN NAMED EXECUTIVE OFFICERS (AS OF FEBRUARY 1, 2007) The following sets forth the compensation arrangements between First Aviation Services, Inc. (the "Company") and certain of its named executive officers as of February 1, 2007: Michael Culver, the former President and Chief Executive Officer of the Company and currently an employee and Vice Chairman of the Company, receives a base salary of $175,000 per year, is eligible for a bonus at the discretion of the Board and receives benefits consistent with other senior managers of the Company. Aaron Hollander, Chief Executive Officer of the Company, has a compensation arrangement with the Company which is set forth in Exhibit 10.38 to the Company's Annual Report on Form 10-K for the year ended January 31, 2006. Bill Reznicek, Vice President and Chief Financial Officer of the Company, has a compensation arrangement which is set forth in his employment agreement with Aerospace Products, Inc., dated as of January 12, 2007, which is being filed as Exhibit 10.24 to the Company's Annual Report on Form 10-K for the year ended January 31, 2007. Robert Malachowski, who previously served as the Company's principal financial officer, is currently employed at-will at a base salary of $85,000 per year. Mr. Malachowski is also eligible for a bonus at the discretion of the Board and receives benefits consistent with other salaried employees of the Company.