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aerospace, behalf, Canadian, Circon, consent, cox, dated, david, donald, duly, engelman, exhibit, good, grossman, home, howard, inapplicable, industrial, jerome, jr, lillard, List, listed, Matsumoto, micro, omitted, parfet, recommendation, Rexnord, ronda, schedule, signature, simpson, thereof, thereto, thereunto, Treasurer, undersigned, voting, william
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EXHIBIT (10)(iii)
DESCRIPTION OF BONUS ARRANGEMENTS
The Company has entered into bonus arrangements with certain executive officers for 2003, including Mr. Brown, Mr. Johnson, Mr. Kemler, Mr. Lawson and Mr. Lipes, based on specific performance criteria including profits, cash flows and asset management. The aggregate amount of such bonuses is not expected to exceed $3,000,000.