Exhibit
10.18


 


SUMMARY OF NAMED EXECUTIVE OFFICER COMPENSATION


 


No named executive officer
has an employment contract with the company. 
The named executive officers participate in various compensation plans
and other arrangements as summarized below and described in further detail in
the company’s 2005 Proxy Statement.  With
the exception of the Retirement and Health and Welfare Plans, each of the plans
noted below is on file with the Securities and Exchange Commission.


 


	
   

  	
   

  	
  Chairman,

  CEO

  	
   

  	
  Chief
  Financial Officer, Treasurer

  	
   

  	
  President
  – U.S. Operations

  	
   

  	
  Chief
  Operating Officer

  	
   

  	
  President
  – French Operations

  
	
  Base
  Salary 2004/2005 – approved by the Compensation Committee annually

  	
   

  	
  US$500,000/ US$500,000

  	
   

  	
  US$288,000/ US$305,280

  	
   

  	
  US$255,000/ US$265,200

  	
   

  	
  E362,102/ E376,580

  	
   

  	
  E227,136/ E236,100

  
	
  Retirement,
  Retirement Savings (401-K) and Health and Welfare Plans

  	
   

  	
  Participates on the same basis as all other
  similarly situated salaried employees.

  	
   

  	
  Participates in various French government mandated
  and subsidiary retirement programs on the same basis as other salaried
  employees of the French subsidiaries.

  
	
  Supplemental
  Retirement Plan

  	
   

  	
  An amount is credited to this non-qualified
  supplemental retirement plan on the same terms as the qualified retirement
  plan, but without regard to IRS retirement plan limitations.

  	
   

  	
  Not a participant in the plan.

  
	
  Annual
  Incentive Plan – award objectives established and performance
  against objectives approved by the Compensation Committee annually.

  	
   

  	
  Target cash opportunities range from 35% to 75% of
  base salary with a payout range of 0% to 192.5% of the target incentive
  award.

  
	
  Long-Term
  Incentive Compensation Plan – award objectives established and performance against
  approved objectives determined by the Compensation Committee.

  	
   

  	
  Target cash awards range from 0% up to 200% of the
  performance award opportunity as established at the beginning of each award
  cycle, which is usually three years in duration.

  
	
  Equity
  Participation Plan – option grants approved by the Compensation Committee. 2005 Awards.

  	
   

  	
  Options on 52,100 shares awarded with a strike price
  of $33.55 per share.

  	
   

  	
  Options on 17,700 shares awarded with a strike price
  of $33.55 per share.

  	
   

  	
  Options on 12,300 shares awarded with a strike price
  of $33.55 per share

  	
   

  	
  Options on 35,900 shares awarded with a strike price
  of $33.55 per share.

  	
   

  	
  Options on 10,000 shares awarded with a strike price
  of $33.55 per share.

  



 


 





















 


	
   

  	
   

  	
  Chairman,

  CEO

  	
   

  	
  Chief
  Financial Officer, Treasurer

  	
   

  	
  President
  – U.S. Operations

  	
   

  	
  Chief
  Operating Officer

  	
   

  	
  President
  – French Operations

  
	
  Restricted
  Stock Plan –
  awards approved by the Compensation Committee.

  	
   

  	
  Plan participant. 
  The CEO received an award of 3,500 shares of restricted stock.  No other participant received an award of
  restricted stock in 2004.  No awards of
  restricted stock have been made to date in 2005. 

  	
   

  	
  Not a participant in the plan. 

  
	
  Deferred
  Compensation Plan

  	
   

  	
  Participation is discretionary on the part of the
  named executive officer. With Compensation Committee approval, the company
  can make contributions to the participant’s plan account. Earnings on account
  balances are based on investment elections made by the participant and the
  risk of gain or loss on the investment is for the participant’s account.

  	
   

  	
  Not a participant in the plan.

  
	
  Executive
  Severance Plan

  	
   

  	
  Upon a change of control, a payment of 3 times
  highest Base Salary and Annual Incentive Plan bonus; continuation of medical
  insurance for three years and three years credit to the Retirement Plan and
  Supplemental Retirement Plan.  All
  other terminations, except for cause, provide for a payment of up to 24
  months of base salary.

  
	
  Car
  Allowance

  	
   

  	
  No participation.

  	
   

  	
  Granted a car allowance for a vehicle up to a
  specified value together with maintenance and insurance costs.  Vehicle may be replaced every four years.