[Dresser Letterhead]
October 31, 1996
Mr. Xxxx Xxxxx
00000 Xxxxxxx Xxxxx Xxxxx
Xxx Xxxxxxx, XX 00000-0000
Dear Ambassador Xxxxx:
The purpose of this letter is to extend the agreement we previously reached
under which you will continue to chair the Dresser Industries de Mexico
Advisory Board.
1. The term of this extension is November 1, 1996 through January 31, 1997
and may be renewed for successive yearly periods by mutual written
consent. However, this agreement may be terminated at the close of any
month by written notice at least ten days prior to the end of the month.
2. During the term of this agreement and any extension, you agree to perform
such services for the benefit of Dresser Industries, Inc. as we shall
mutually determine from time to time. Pursuant to our prior discussions,
these services would generally cover certain areas of the Mexican economy,
its business environment, and your expertise regarding business
opportunities in Mexico.
3. Your fee will be US $10,000 per quarter paid quarterly in advance.
4. Reimbursement of your travel, lodging and other costs incurred in
connection with your services under this agreement shall be made upon
presentation of your invoice or statement setting forth such costs.
5. You understand and agree that you are not an agent or employee of Dresser
by virtue of this agreement, and accordingly are not eligible for regular
group or travel insurance or any other employee benefits.
Page 2 of 2
Mr. Xxxx Xxxxx
6. Finally, it is recognized that some of the work you will be called upon to
perform hereunder, as well as information furnished you by us in
connection therewith, is highly confidential. The Company asks and you
agree that any and all such information developed or secured during the
performance of services under this agreement shall be considered by you to
be confidential and the exclusive property of Xxxxxxx and shall not now or
at any time hereafter be published, stated, or used by you for any purpose
without Xxxxxxx's prior written consent.
If you agree to perform services as outlined above, please so indicate by
signing and returning to me the copy of this letter provided for that purpose.
Sincerely,
DRESSER INDUSTRIES, INC.
By: /s/ W. E. BRADFORD
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Xxxxxxx X. Xxxxxxxx
President and Chief Executive Officer
Date: 10-31-96
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ACCEPTED:
/s/ XXXX XXXXX
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Xxxx Xxxxx
Date: 11-5-96
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