2005 Compensation Agreement Between Lexington Precision Corporation and Lubin, Delano & Company

Summary

Lexington Precision Corporation agreed to compensate Lubin, Delano & Company, an investment banking firm owned by its Chairman and President, with a basic fee of $700,000 for 2005. Additional incentive fees could be paid if the company met certain profit targets, and further transaction fees might be agreed upon for specific business deals such as acquisitions or financings. This arrangement outlines the payment structure and conditions for compensating the firm during the year.

EX-10.6 2 l17952aexv10w6.txt EX-10.6 COMPENSATION ARRANGEMENTS WITH LUBIN DELANO & CO. Exhibit 10-6 DESCRIPTION OF 2005 COMPENSATION ARRANGEMENTS WITH LUBIN, DELANO & COMPANY During 2005, 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.