Exhibit 10.1
As of August 20, 2004
Xxxx X. Xxxxxx, O.D.
00 Xxxxx Xxxxx
Xxxxxx Xxxx, Xxx Xxxxxx 00000
Re: Consulting Arrangement
Dear Xxxx:
This letter will confirm the agreement we reached on August 20, 2004,
with respect to consulting services you have agreed to perform personally on
behalf of National Vision, Inc. You have agreed to identify and recruit
optometrists on behalf of the Company, particularly with respect to our new
free-standing locations. You will also provide related services that we may
reasonably request, including providing advice and assistance to optometrists
who are relocating their practices adjacent to these new locations. Your
services may involve participation in continuing education and similar programs.
We will of course reimburse you for your reasonable out-of-pocket expenses.
We will pay you annual compensation of $60,000, payable at the rate of
$150 per hour. We therefore expect that you will provide 400 hours of service
during the year. Any shortfall or overage in the number of hours will be
reconciled quarterly. You will document your provision of these services and
provide us the documentation upon our request.
We agree that the compensation payable under this agreement does not
take into account the volume or value of any referrals or business otherwise
generated between the parties for which payment may be made in whole or in part
under Medicare, Medicaid or other federal health care programs.
This agreement will have a one year term expiring on August 20, 2005.
We agree and understand that we will not amend this agreement before August 20,
2005. Either party may, however, terminate this agreement on 30 days notice at
any time, for any or no reason.
This agreement is subject to approval of the Audit Committee of the
Board of Directors of the Company.
Thank you for your cooperation and we look forward to working with you.
Please sign the enclosed copy of this letter and return it to me in the
enclosed envelope to confirm our agreement.
With best regards.
Very truly yours,
Xxxxxx X. Xxxxx
Senior Vice President,
Professional and Managed
Care Development
MG/mkh
Agreed and confirmed:
/s/ Xxxx X. Xxxxx, O.D.
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Xxxx X. Xxxxxx, O.D.
