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Title: |
Consulting Agreement |
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Entities: |
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Date: |
2003 |
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Preview shows 3KB of 15KB total |
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Price: |
$37 |
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ID: |
#411449 |
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[LOGO] AEROSONIC CORPORATION
CONSULTING AGREEMENT
This Consulting Agreement ("this Agreement") is made this 20th day of
May 2003 by and between Aerosonic Corporation, a Delaware corporation (the
"Company"), and J. Mervyn Nabors (the "Consultant") residing at 271 Bayside Dr.
Clearwater, FL 33767.
WHEREAS, the Company wishes to engage the services of the Consultant
as an independent contractor, and Consultant wishes to be engaged by the Company
as such, all on the terms and conditions hereinafter set forth.
NOW, THEREFORE, for these and other valuable considerations, the receipt and
sufficiency of which are hereby acknowledged, the Company and the Consultant
hereby agree as follows:
1. Duration of Agreement. This Agreement between the Company and the
Consultant shall commence on the date first above written and shall be
for a period of one year from such date, unless earlier terminated
pursuant to the provisions of Section 6 hereof. Upon mutual consent,
this Agreement may be extended at the end of the original term for a
period of one year.
2. Duties of Consultant. The Consultant shall serve the Company well and
faithfully and shall, at all times, use his best efforts to promote
the interest of the Company and it subsidiaries. The Consultant shall
comply with all lawful requests and directions given to him by the
President of the Company (the "President") and shall supply the
President with such information and reports as the President may from
time to time reasonably request. All duties of and undertakings by the
Consultant shall be as specifically assigned by the President.
3. Confidential Information. The Consultant shall not disclose the
confidential information made available to him pursuant to this
Agreement or in his prior relationship with the Company or any
subsidiary or affiliate of the Company, to any person other than such
persons as the Company's Board of Directors or the President may
direct or for the Company's purposes. The Consultant shall not use for
his own purpose or for any purposes other than those of the Company,
its subsidiaries or affiliates any information of a confidential
nature in relation to the business of the Company or any subsidiary or
affiliate that the Company may have or may acquire.
{PAGE}
[LOGO] AEROSONIC CORPORATION
4. Compensation of Consultant. During the term of the Agreement provided
for herein, the Consultant shall be paid a fee of $120,000 per year
plus a car allowance of $18,000 per year, both of which will be paid
on a bi-weekly basis.
5. Benefits. During the term of this Agreement, the Consultant shall be
entitled to participate in and shall receive such health insurance and
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