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EXHIBIT 10.9
March 19, 1996
Xx. Xxxxx Xxxxx
00 Xxxxxxx Xxx
Xxxx Xxxxx, XX 00000-0000
Re: Consulting Agreement
Dear Xxxx:
This will confirm that:
1. Effective February 4, 1996, Furon retained you to provide
management consulting services for Furon's fiscal year ending
February 1, 1997. You will be paid $76,800 and will be reimbursed
for business related expenses incurred in the performance of
those services. As part of this arrangement, you are entitled to,
and Furon has purchased, general medical insurance coverage for
your spouse, as well as medical insurance to supplement Medicare
coverage maintained by you, at an aggregate cost to Furon of
approximately $600 per month, and Furon will reimburse you and
your spouse for any uninsured out-of-pocket medical expenses. It
is contemplated that the consulting arrangement will require the
commitment of approximately 50% of your business time.
2. In performing your services as a consultant pursuant to that
arrangement, you have been and will continue to be an independent
contractor, and not an employee of Furon.
3. This consulting arrangement is subject to the annual review and
approval of Furon's Board of Directors.
If the foregoing accurately sets forth the terms of your consulting
agreement with Furon, please so indicate by signing the extra-enclosed copy of
this letter at the place provided for your signature and returning it to me.
Cordially,
/s/ J. XXXXXXX XXXXX
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J. Xxxxxxx Xxxxx
Chairman of the Board
APPROVED AND AGREED
EFFECTIVE AS OF FEBRUARY 4, 1996
/s/ XXXXX XXXXX
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Xxxxx Xxxxx
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