PMT, INC. - Page 6

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          Mr. Penalba's duties included supervising the sales staff,                  
          meeting with both salespeople and purchasers, and handling                  
          product service.                                                            
               Mr. Penalba frequently worked 15 to 18 hours a day, and Mr.            
          Penalba often worked weekends.  Mr. Penalba worked approximately            
          80 to 100 hours per week during the year at issue.  Mr. Penalba's           
          duties and responsibilities did not change dramatically from year           
          to year.                                                                    
               Mrs. Penalba was responsible for the daily operations of               
          petitioner.  Mrs. Penalba secured credit to finance material                
          purchases and operations.  Mrs. Penalba was also responsible for            
          recordkeeping and customer services.  Mrs. Penalba was                      
          responsible for confirming orders and seeing that purchase orders           
          were properly filled.  In general, Mrs. Penalba was second in               
          authority in making policy decisions for petitioner, including              
          decisions with respect to production.                                       
               Although Mrs. Penalba's workload increased steadily from               
          1985 through 1991, the nature of her duties remained                        
          substantially the same.  Mrs. Penalba worked approximately 60 to            
          80 hours per week during the year at issue.                                 
               In 1987, Mr. Penalba developed several fabrics that became             
          very desirable in the industry.  The most popular fabric that Mr.           
          Penalba developed was a cotton fabric with a Spandex polyurethane           
          or Lycra synthetic filament (the cotton/Lycra fabric).  The                 
          cotton/Lycra fabric was desirable because it gave an elastic                




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Last modified: May 25, 2011