Exhibit 10.1
Consulting Agreement
THIS AGREEMENT, is made this ____day of March, 2000,
("Agreement"), by and between NS GROUP, INC. ("Company") and
XXXXXX X. XXXX ("Consultant").
WHEREAS, Consultant has been employed by the Company as
Vice President and as President of Newport Steel Corporation
("Newport"); and
WHEREAS, Consultant is retiring as an officer of the
Company, and as President and an employee of Newport,
effective March 31, 2000; and
WHEREAS, the Company has requested that Consultant remain
available in an advisory capacity after his retirement from
active employment;
NOW, THEREFORE, in consideration of the mutual promises
herein contained, the parties agree as follows:
1. Consultant will be retained by the Company,
effective April 1, 2000, to advise the Company and/or
Newport, as requested by the Company, for a term of twelve
(12) months.
2. Consultant will receive a consulting fee of
$1,500.00 per day for each day that he provides such services,
plus reasonable expenses incurred by Consultant, payable on
the last business day of each month. Consultant will be
available as needed, but will provide such services no more
than fifteen (15) days per month, without his prior agreement
to work a greater number of days. A day in which Consultant
spends four (4) hours or less in performing such service will
count as one-half day and a day in which he spends more that
four (4) hours, but no more than eight (8) hours, will count
as a full day. If Consultant works more that eight (8) hours
in a day, the excess hours will be credited toward another day
of service.
3. In performing such service, Consultant will act as
an independent contractor and will not be an employee of the
Company or Newport. He will report on a regular basis and
when requested to the President and Chief Executive Officer of
the Company, or to another officer as directed by the
President and Chief Executive Officer.
4. Any notice given pursuant to this Agreement is to be
sent via first-class mail or fax as follows:
To the Company: Xx. Xxxx X. Xxxxxxxxx
Fax: (000) 000-0000
President and C.E.O.
NS Group, Inc.
000 X. Xxxxx Xxxxxx
Xxxxxxx, Xxxxxxxx 00000
To the Consultant: Xx. Xxxxxx X. Xxxx
00000 Xxxxx Xxxxx
Xxxxx, Xxxxxxxx 00000
4. This Agreement will be binding upon and inure to the
benefit of the parties and shall not be assigned by either
party without the prior written consent of the other party.
5. This Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Kentucky.
6. This Agreement contains the entire agreement between
the parties with respect to this matter and supersedes any
previous understandings or agreements, written or oral,
regarding such consulting services.
IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed individually and by a duly authorized
representative as of the date first set forth above.
NS GROUP, INC.
By: /s/Xxxx X. Xxxxxxxxx
Xxxx X. Xxxxxxxxx
President and C.E.O.
CONSULTANT
/s/Xxxxxx X. Xxxx
Xxxxxx X. Xxxx
