ORAL AGREEMENTS

EX-10.17 2 v216008_ex10-17.htm Unassociated Document

EXHIBIT 10.17

ORAL AGREEMENTS

Compensation

1.	Pursuant to an oral arrangement, directors (other Emmanuel Gill) who are not affiliated with Titanium Asset Management Corp. receive an annual cash retainer of $30,000, which is paid in quarterly installments.

2.	Pursuant to an oral arrangement, Mr. Gill receives an annual cash retainer of $100,000, which is paid in quarterly installments, for his services as a director and his consulting services to the Company. This arrangement was approved by the full board of directors, the independent directors and the executive directors.