AGREEMENT FOR MANAGEMENT SERVICES
BETWEEN
XXXXXX TRAVEL CENTERS INCORPORATED
AND
XXXXXX OUTDOOR ADVERTISING & TRAVEL CENTERS INCORPORATED
This document will confirm and constitute the agreement ("Agreement") as of the
August 1, 2000 between Xxxxxx Travel Centers Incorporated ("BTCI") located at
000 Xxxxxxxxx XX, Xxxxxxxxxxx, Xxx Xxxxxx 00000, and Xxxxxx Outdoor Advertising
& Travel Centers Incorporated ("BOATCI"), 000 Xxxxxxxxx XX, Xxxxxxxxxxx, Xxx
Xxxxxx 00000, pursuant to which BTCI will furnish to BOATCI management,
corporate general and administrative services (collectively known as "Management
Services"), and for which BOATCI will reimburse BTCI as provided herein.
1. BTCI agrees to perform services for BOATCI in areas generally considered to
be management, corporate general and administrative services, including but not
limited to, treasury, accounting, tax, human resources, and other support
services, as follows:
ACCOUNTING SERVICES: Accounting Services shall include, but is not limited to,
general ledger and financial statement preparation, various financial analysis,
and accounts payable support.
EXECUTIVE MANAGEMENT SERVICES: Executive Management Services shall include, but
is not limited to, strategic planning and decision making and other customary
and usual top management functions.
HUMAN RESOURCES, WAGES AND BENEFITS SERVICES: Human Resources, Wages and
Benefits Services shall include, but is not limited to, payroll processing,
personnel file maintenance, recruiting, interviewing, hiring, safety training,
counseling and labor law support.
JANITORIAL AND MAINTENANCE SERVICES: Janitorial and Maintenance Services shall
include, but is not limited to, cleaning, general repair, maintenance, and
landscape care.
MANAGEMENT INFORMATION SYSTEM SERVICES: Management Information System Services
shall include, but is not limited to, local area network system services and
support, software services and support, and telephone network and equipment
maintenance.
OUTSIDE PROFESSIONAL SERVICES: Outside Professional Services shall include, but
is not limited to, investor relations, legal and outside accounting services.
RECEPTIONIST SERVICES: Receptionist Services shall include, but is not limited
to, telephone answering and messaging.
SHIPPING, RECEIVING AND OFFICE SUPPLY SERVICES: Shipping, Receiving and Office
Supply Services shall include, but is not limited to, shipping, receiving, FedEx
and UPS tracking and office supply services.
2. BOATCI agrees to reimburse BTCI for the Management Services performed on
behalf of BOATCI. Payment for this service shall be made monthly. The amount due
each month from BOATCI shall be determined by BTCI based on actual amounts
incurred on behalf of BOATC as well as a proportionate amount of the overall
general and administrative expenses based on the level of effort necessary to
provide such services. The payment for this service shall be known as the
Management Fee and shall be payable in full, upon demand by BTCI.
3. The term of this agreement shall be month-to-month effective from the date
first stated herein. Upon thirty (30) days written notice, either party may
terminate this Agreement.
AGREED AND ACCEPTED: The foregoing correctly sets forth our mutual understanding
and is hereby accepted and approved by the signatories shown below.
Xxxxxx Travel Centers Incorporated Xxxxxx Outdoor Advertising & Travel
Centers Incorporated
By: Xxxxxxx X. Xxxxxx By: Xxxxxxx X. Xxxxxx
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Title: Chairman, President and CEO Title: Chairman, President and CEO
Date: Date:
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