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                                                                    Exhibit 10.6

                  DESCRIPTION OF 1998 COMPENSATION ARRANGEMENTS
                          WITH LUBIN, DELANO & COMPANY

        During 1998, 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 $400,000, 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.