Exhibit 10-6


                  DESCRIPTION OF 2001 COMPENSATION ARRANGEMENTS
                          WITH LUBIN, DELANO & COMPANY

         During 2001, 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
$500,000, 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.