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Document Preview Consulting Agreement [Amended and Restated] |
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Title: |
Consulting Agreement [Amended and Restated] |
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Entities: |
Hilb, Rogal & Hobbs Co.; Robert H. Hilb |
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Date: |
2002 |
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Size: |
7KB total |
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Price: |
$37 |
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ID: |
#293157 |
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AMENDED AND RESTATED
CONSULTING AGREEMENT
THIS AMENDED AND RESTATED CONSULTING AGREEMENT is made and entered into
as of July 15, 2002, by and between HILB, ROGAL AND HAMILTON COMPANY, a Virginia
corporation (the "Company"), and ROBERT H. HILB, an Illinois resident
("Consultant").
RECITALS
A. The Company is engaged in the insurance business and prior to the
date hereof, Consultant served as the Chief Executive Officer of the Company.
B. Consultant was initially hired as a consultant on June 1, 1997, for
a term of three (3) years.
C. Consultant's term was extended to May 31, 2003, by amendment on
November 29, 1999.
D. The Company desires to continue to receive the benefit of
Consultant's business expertise, knowledge regarding the insurance industry and
extensive experience with the operations of the Company, and Consultant desires
to assist the Company in its endeavors by providing consulting services to the
Company pursuant to the terms and conditions set forth in this Agreement.
AGREEMENT
In consideration of the mutual covenants and agreements set forth
herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
1. Consulting Services. The Company and Consultant agree that
Consultant shall provide the Company with his personal and unique consulting
services as requested by the Board of Directors and/or the Chief Executive
Officer of the Company. Consultant's consulting services may include advising
members of the Company's management team on matters relating to strategic
planning, mergers and acquisitions opportunities, financing for the Company and
other matters as may be requested from time to time. The services are not
expected to exceed twenty (20) hours per month, on average.
2. Compensation and Reimbursement of Expenses. As the total
consideration for the services provided by Consultant hereunder, the Company
shall pay Seven Thousand Dollars ($7,000.00) per month payable on the first day
of each month through May 2003, thereafter, during the Term of this Agreement
Company shall pay Consultant Nine Thousand Dollars ($9,000.00) per month,
payable on the first day of each month. The Company shall reimburse
{PAGE}
Consultant for all reasonable expenses incurred by him while providing
consulting services to the Company; provided that, all requests submitted by
Consultant for reimbursement by the Company shall be supported by original
receipts and such additional documentation as is reasonably required by the
Company.
3. Term. The term of this Agreement shall continue (unless sooner
terminated by death) until May 31, 2006, after which it will continue, if
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