CONSULTING AGREEMENT
THIS CONSULTING AGREEMENT is made and entered into as of the 1st day of
April, 2000, by and between Tredegar Corporation, a Virginia corporation, 0000
Xxxxxxxx Xxxxxxx, Xxxxxxxx, Xxxxxxxx (hereinafter called "Tredegar"), and
Xxxxxxx X. Xxxxxxx, an individual residing at 00000 Xxxxx Xxxxx Xxxxx,
Xxxxxxxxxx, Xxxxxxxx (hereinafter called "Xxxxxxx").
W I T N E S S E T H:
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WHEREAS, Tredegar and Xxxxxxx entered into a consulting agreement dated
as of March 31, 1996, as amended as of July 1, 1997 (the "1996 Agreement");
WHEREAS, Tredegar and Xxxxxxx desire to terminate the 1996 Agreement
and enter into a new relationship.
NOW THEREFORE, the parties hereto mutually agree as follows:
1. Effective as of the date hereof, the 1996 Agreement is terminated.
2. During the term of this Agreement, Xxxxxxx agrees to serve as a
member of Tredegar's Executive Committee for such period as may be requested by
Tredegar and its Board of Directors.
3. Xxxxxxx agrees to remain generally familiar with the affairs of
Tredegar and its subsidiaries and make himself available for advice, meetings
and consultation (by telephone or in person).
4. Tredegar agrees to provide Xxxxxxx with office space, limited
secretarial assistance and access to business publications and internal
documents so as to enable Xxxxxxx to be effective in performing his duties
hereunder. Xxxxxxx shall be invited to attend, but is not required to be present
at, all Management Committee meetings.
5. For the services rendered hereunder by Xxxxxxx (including his
service as a member of Tredegar's Executive Committee), Tredegar shall pay
Xxxxxxx and Xxxxxxx hereby accepts as full compensation therefor the annual
amount of $20,000, which payment will be made in quarterly installments in
advance and prorated for any partial year.
6. Tredegar will reimburse Xxxxxxx for his reasonable expenses incurred
in the performance of his services hereunder, provided that such expenses shall
be approved by another member of Tredegar's Executive Committee.
7. During the term of this Agreement, Xxxxxxx shall be deemed for all
purposes an independent contractor and not an "employee" of Tredegar.
8. This Agreement shall be in effect so long as Xxxxxxx remains a
member of Tredegar's Executive Committee.
9. This Agreement shall be construed and interpreted under the laws of
Virginia.
IN WITNESS WHEREOF, Tredegar Corporation has caused this instrument to
be signed in its name by its duly authorized officer and Xxxxxxx X. Xxxxxxx has
hereunto set his hand, all as of the day and year first above written.
TREDEGAR CORPORATION
By /s/ Xxxx X. Xxxxxxxx
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Xxxx X. Xxxxxxxx
President
/s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
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