EXHIBIT 10
SUMMARY OF EMPLOYMENT AGREEMENT BETWEEN THE COMPANY AND STEVEN H.
CARDIN,
EFFECTIVE OCTOBER 1, 2006
Effective October 1, 2006, the Company renewed its Employment Agreement with Mr. Cardin. The Agreement
has an initial term of five years and provides that Mr. Cardin is to receive an annual base salary of $244,000
escalating at no less than 5% per annum, and an annual bonus of no less than 10% of the Company's earnings
before tax, payable, at Mr. Cardin's election, in either cash or Common Stock of the Company at then fair
market value.
The Employment Agreement also provides that, in the event the Company terminates Mr. Cardin's employment
by reason of his permanent disability, the Company shall
(1) pay Mr. Cardin a total sum, payable in 24 equal monthly installments, equal to 50% of the base salary to
which he would have been entitled had he performed his duties for the Company for a period of two years after
his termination, less the amount of any disability insurance benefits he receives under policies maintained by the
Company for his benefit, and (2) continue to provide Mr. Cardin with all fringe benefits provided to him at the
time of his permanent disability for a period of two years following such permanent disability.
The Employment Agreement also provides that, in the event the Company terminates Mr. Cardin's employment in
breach of the agreement, or in the event that Mr. Cardin terminates his employment because his circumstances of
employment shall have changed subsequent to a change in control, then the Company shall pay Mr. Cardin a
lump sum payment equal to the sum of (1) twice Mr. Cardin's base salary during the 12-month period
immediately preceding the termination of his employment, (2) the greater of (a) twice any annual bonus paid to or
accrued with respect to Mr. Cardin by the Company during the fiscal year immediately preceding the fiscal year
in which his employment shall have been terminated or
(b) three times his base salary during the 12-month period