This excerpt taken from the HWK DEF 14A filed Apr 17, 2009.
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Carl J. Harbert, the son of Norman C. Harbert, one of our directors, is employed by one of our subsidiaries as our director of global marketing. His compensation from Hawk last year totaled $176,133. Carl Harbert does not have an employment agreement with Hawk and is an employee-at-will. We believe his compensation is comparable to compensation for positions in the industry with similar job responsibilities in companies of similar size.
Byron S. Krantz, a partner of Kohrman Jackson & Krantz P.L.L., our legal counsel, is one of our stockholders and directors and is also our secretary. Marc C. Krantz, a son of Byron Krantz and the managing partner of Kohrman Jackson & Krantz, is our assistant secretary and a stockholder.
We paid legal fees to Kohrman Jackson & Krantz in 2008 of $1,260,003 for services in connection with a variety of legal matters.
We believe that the terms of the transactions and the agreements described above are on terms at least as favorable as those which we could have obtained from unrelated parties. Our board of directors requires that on-going and future transactions with related parties will be:
on terms at least as favorable as those that we would be able to obtain from unrelated parties,
for bona fide business purposes, and
reviewed and approved by the audit committee or other independent committee of our board of directors.