Note 10. Related Party Transactions

The Company has incurred debt with related parties through several lending arrangements as further described in Note 6 Credit Agreements and Note 7 Long-Term Debt and Lease Obligations. The terms of each of these related party transactions were approved by a Special Committee of the Board of Directors consisting solely of a disinterested director for each transaction.

In addition, the Company had previously issued preferred stock to related parties as further described in Note 8 Series C 8% Cumulative, Compounding Exchangeable Preferred Stock and Note 9 Series D 8% Cumulative, Compounding Exchangeable Preferred Stock.

In November 2011, Mykonos 6420 LP (“Mykonos”), previous to this time, the sole holder of the Company’s Series C Preferred Stock, re-distributed the ownership of the Series C Preferred Stock to the individual investors in Mykonos 6420 LP. MH Imports was an 85.75% owner of Mykonos and directly owned 85.75% of the Company’s Series C Preferred Stock prior to the transactions described in Note 2.

Crestpark was the sole holder of the Company’s Series D Preferred Stock prior to the transactions described in Note 2.

Crestpark and MH Imports are wholly owned subsidiaries of Consolidated Investment Services, Inc. which is wholly owned by Sammons Enterprises, Inc.