Exhibit 10(i)
(XxXxxxxx'x Corporation Letterhead)
March 20, 2001
Xx. Xxxxxx X. Xxxx
Rio Algom Limited
000 Xxxxxxxx Xxxxxx Xxxx
Xxxxx 0000
Xxxxxxx, Xxxxxxx X 0X 0X0
Xxxxxx
Dear Xxxxxx:
This letter will acknowledge your agreement to retire as a member of the
Board of Directors pursuant to the retirement policy for Directors, and to serve
as a Senior Director of XxXxxxxx'x Corporation, effective immediately following
the Company's 2001 Annual Meeting of Shareholders, scheduled to be held on May
17, 2001.
As you know, your service as a Senior Director shall be at the pleasure of
the Board on the following terms and conditions:
. Senior Directors may attend Board meetings and meetings of Committees
upon which they served at the time of their retirement as Directors, but
shall not have the right to vote at any such meeting.
. Senior Directors shall be designated annually for a one-year term, but
may not serve more than two such one-year terms.
. Senior Directors shall be compensated in the same manner as Directors,
except that Senior Directors shall not be compensated for attending
Committee meetings.
. Senior Directors shall be expressly indemnified by resolution of the Board of
Directors under the provisions of the Company's By-Laws.
. On behalf of the Board of Directors, we thank you for your willingness to
continue to share your advise and counsel with the Board and McDonald's
management.
Sincerely,
/s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx
Chairman, Nominating and Corporate
Governance Committee
/s/ Xxxx X. Xxxxxxxxx
Xxxx X. Xxxxxxxxx
Chairman and Chief Executive Officer
Accepted as of March 21, 2001
/s/ Xxxxxx X Xxxx
Xxxxxx X. Xxxx
