Years Ended December 31
EX-10.6 2 l24260bexv10w6.htm EX-10.6 EX-10.6
Exhibit 10-6
DESCRIPTION OF 2006 COMPENSATION ARRANGEMENTS
WITH LUBIN, DELANO & COMPANY
WITH LUBIN, DELANO & COMPANY
During 2006, Lexington Precision Corporation (the “Company”) compensated Michael A. Lubin, its Chairman of the Board, and Warren Delano, its President, indirectly through payments to Lubin, Delano & Company, an investment banking firm of which they are the only partners. These compensation arrangements provided for payment to Lubin, Delano & Company of a basic fee of $700,000, and provided for a possible incentive fee based upon attaining an operating profit target for the Company and possible transaction fees as might be agreed upon by the Company and Lubin, Delano & Company in connection with acquisitions, divestitures, financings and other similar transactions.
