Summary of Compensation Arrangements with Named Executive Officers and Directors




 Exhibit 10.16 

SUMMARY OF COMPENSATION ARRANGEMENTS 
 WITH NAMED EXECUTIVE OFFICERS AND DIRECTORS 
 (EFFECTIVE MARCH 1, 2011)

 Named Executive Officers 
 The following summarizes the current cash compensation and benefits for the Company’s Chief Executive Officer, its Chief Financial Officer and its next three most highly compensated executive
officers for the fiscal year ended December 31, 2010 (the “Named Executive Officers”), to the extent such Named Executive Officer was employed by the Company on March 1, 2011. The following is intended to be a summary of existing
oral, at will arrangements, and in no way is intended to provide any additional rights to any of the Named Executive Officers. 

None of the Company’s executive officers has a written employment agreement with the Company. The executive officers of the Company
serve at the discretion of the Board of Directors. The Compensation Committee of the Board (the “Committee”) reviews and recommends to the Board the compensation that is paid to the Company’s executive officers, including the salaries
of the Named Executive Officers. The salaries of the Named Executive Officers, as of March 1, 2011 are as follows: 
  

					
	 Name and Position
	  	Salary	 
	 J. Boyd Douglas
	  	$	550,000	  
	 President, CEO and Director
	  			
		
	 David A. Dye
	  	$	400,000	  
	 Vice President – Finance and CFO and Director
	  			
		
	 Victor S. Schneider
	  	$	250,000	(1) 
	 Senior Vice President – Corporate and Business Development
	  			
		
	 Troy D. Rosser
	  	$	255,000	(1) 
	 Vice President – Sales
	  			

  

	(1)	In addition to this base salary, Mr. Schneider and Mr. Rosser are eligible to receive sales commissions. Such commissions are included each year as part of this
individuals’ salary for purposes of determining their status as a Named Executive Officer. 

 The Named
Executive Officers are eligible to receive discretionary bonuses. The Named Executive Officers are also eligible to participate in the Company’s the 2002 Stock Option Plan and the 2005 Restricted Stock Plan, as well as the Company’s
regular benefit plans and programs. All executive benefit plans and forms of agreements are filed as exhibits to the Company’s Exchange Act filings. Information regarding these plans and agreements, as well as compensation earned by the Named
Executive Officers during fiscal 2010, will be included in the Company’s 2011 Proxy Statement. 
 Directors 

Current director compensation arrangements provide that non-employee directors will receive an annual retainer of $30,000. Non-employee
directors who are members of the Audit Committee will receive an additional annual retainer of $5,000. Non-employee directors that are members of the Compensation Committee will receive an additional annual retainer of $4,000 and non-employee
directors who are members of the Nominating and Governance Committee will receive an additional annual retainer of $1,000. Each non-employee director also receives an attendance fee of $2,000 for each regular quarterly meeting of the Board of
Directors. Directors are also reimbursed for their expenses incurred in attending any meeting of directors.