CONSULTING AGREEMENT

This Consulting Agreement is entered into this 1^st day of June, 1999, by and between AAR CORP. (Company), a Delaware corporation, and Ira A. Eichner, having his principal place of business at 301 Polmer Park, Palm Beach, Florida 33480 (Consultant).

WHEREAS, Consultant recently retired from active employment as a senior executive officer of the Company, pursuant to the terms of Consultants Employment Agreement having founded the Company and served as its Chairman and Chief Executive Officer for over 40 years, and is presently continuing to serve the Company as a non-executive, elected director and Chairman of the Board; and

WHEREAS, Consultant and the Company mutually desire Consultant to provide consulting services to senior management of the Company on operational and strategic planning issues and other projects, in addition to and beyond Consultants duties as Chairman of the Board.

NOW, THEREFORE, the parties agree as follows:

1.                                       Company hereby retains Consultant to provide consulting services to Company in connection with operational and strategic issues and other projects relating to AARs business activities as may be requested from time to time, at times convenient to Consultant, by Companys Chief Executive Officer, or his designee, subject to the terms and conditions below.

2.                                       This Agreement will commence as of June 1, 1999 and continue thereafter for four years and shall be governed by the laws of the State of Illinois.

3.a.                              AAR will pay Consultant a retainer in the amount of Four Hundred Thousand dollars ($400,000).  The retainer will be payable in 16 quarterly payments of $25,000 each, irrespective of whether any services are requested and provided.

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC