Exhibit 10.62
October 7, 1999
The Xxxxxxxxx Xxxxxxxx X. Xxxxxxxxxxx
Baker, Donelson, Bearman & Xxxxxxxx
000 Xxxxxxxxxxxx Xxxxxx, X.X.
Xxxxx 000
Xxxxxxxxxx, X.X. 00000
ADVISORY SERVICES AGREEMENT
Dear Xx. Xxxxxxxxxxx:
This agreement is made by COMSAT Corporation ("COMSAT") for the purpose of
retaining your advisory services to the Chairman of the Board and the President
and Chief Executive Officer of COMSAT.
As a special advisor, you will be asked to meet with the Chairman and the
Chief Executive Officer at such times as mutually convenient, and from time to
time, to advise in such areas as:
. strategic planning
. corporate governance
. legislative matters
. other issues as identified by the Chairman of the Board or the President
and Chief Executive Officer.
The term of this agreement will commence on October 15, 1999 and remain in
effect through October 14, 2001 or the effective date of the merger between
COMSAT and Lockheed Xxxxxx Corporation, whichever is earlier.
COMSAT agrees to pay you $25,000 per year for your advisory services
during the term of this agreement. The annual advisory fee will be payable on
or about October 15 of each year during the term of the agreement, provided that
if the Lockheed Xxxxxx merger is consummated on or before October 15, 2000, this
agreement will terminate thereupon and the second annual payment will not be
made. Expenses associated with the costs of business travel in connection with
services provided for the Chairman and/or the Chief Executive Officer will be
reimbursable.
The Xxxxxxxxx Xxxxxxxx X. Xxxxxxxxxxx
October 7, 1999
Page 2
Please indicate your concurrence with this agreement by signing below and
returning the signed agreement to me.
Sincerely,
/s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx
/s/ Xxxxxxxx X. Xxxxxxxxxxx 10/12/99
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Xxxxxxxx X. Xxxxxxxxxxx Date
