Melvin J. Laney and Carolyn A. Laney - Page 9

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                  In the early 1970's, Laney created a sole proprietorship                            
            known as Melvin J. Laney Associates.  On March 19, 1981, Laney                            
            incorporated Melvin J. Laney Associates, Inc.  These businesses                           
            are hereinafter sometimes referred to as the Laney Proprietorship                         
            and the Laney Corporation, respectively, and as the Laney                                 
            Entities, in the aggregate.  Laney was the sole owner of each of                          
            the Laney Entities.  The Laney Corporation’s only consulting                              
            contract was with Sterling-Winthrop.                                                      
                  Laney did some of his consulting work in his office, which                          
            was located in a building on the same property as his residence.                          
            Laney also traveled to do consulting work.  Laney either was                              
            reimbursed for his travel related to his consulting work, or he                           
            included these costs in his fees; however, Laney was often housed                         
            in a corporate suite or motel room when he traveled.  In or                               
            around 1980 Laney almost completely stopped doing consulting work                         
            that was not related to the information system prototype for R.K.                         
                                    The Rodriguez Key Project                                         
                  In 1977 Laney began to work on R.K.  R.K. involved the                              
            development of a primate breeding and vaccine testing facility.                           
            On June 24, 1978, Laney bought an island, Rodriguez Key                                   
            (hereinafter sometimes referred to as the Island), in Monroe                              
            County, Florida; the Island was to be used as a situs for R.K.                            
            Laney bought the Island for a total of $184,442.20 (purchase                              

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Last modified: May 25, 2011