1 Exhibit 10.6 DESCRIPTION OF 1996 COMPENSATION ARRANGEMENTS WITH LUBIN, DELANO & COMPANY During 1996, 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 (i) a basic fee of $400,000, (ii) an incentive fee based upon the 1996 budgeted operating profit of the Company, and (iii) transaction fees as agreed upon by the Company and Lubin, Delano & Company in connection with acquisitions, divestitures, financings and other similar transactions.