1
EXHIBIT 14
AMERICAN BUSINESS PRODUCTS, INC.
0000 XXXXXXXXX XXXXXXX, XXXXX 0000
XXXXXXX, XXXXXXX 00000
October 15, 1999
Xx. X. Xxxxx Xxxx
000 Xxx Xxxx Xxxxx
Xxxxxx Xxxxxxxx
Xxxxxxxxx, XX 00000-0000
RE: AMERICAN BUSINESS PRODUCTS, INC.
Dear Xxxxx:
This letter is to document the recent arrangement entered into between
you and the Board of Directors of American Business Products, Inc. ("ABP").
Upon the resignation of Xxxxx X. Xxxxxxxxxxx, III as Chairman, Chief Executive
Officer and President of ABP, the Board asked you to serve as of a consultant
to the acting management of ABP with regard to certain executive compensation
and employment issues. You have agreed to assume the responsibilities of this
consulting position until such time as your successor has been elected by the
Board or such earlier time as the Board determines that the position is no
longer needed.
Pursuant to the arrangement, as approved by the Board at its meeting
on September 16, 1999, you will receive compensation in the amount of $400.00
per hour for your services in this consultant capacity. The amount and terms of
your compensation under this arrangement will be reviewed no later than
December 31, 1999.
Please sign this letter as your acknowledgement of the terms of this
arrangement.
Very truly yours,
/s/ C. Xxxxxxx Xxxxxx
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On Behalf of the ABP Board of Directors
AGREED AND ACKNOWLEDGED:
/s/ W. Xxxxx Xxxx
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W. Xxxxx Xxxx
Date: 12/31/99
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[ABP LETTERHEAD]
December 31, 1999
Xx. X. Xxxxx Xxxx
000 Xxx Xxxx Xxxxx
Xxxxxx Xxxxxxxx
Xxxxxxxxx, XX 00000-0000
RE: AMERICAN BUSINESS PRODUCTS, INC.
Dear Xxxxx:
The purpose of this letter is to extend and amend that certain letter
agreement between you and American Business Products, Inc. ("ABP"), dated
October 15, 1999. Upon the resignation of Xxxxx X. Xxxxxxxxxxx, III as
Chairman, Chief Executive Officer and President of ABP, the Board asked you to
serve as of a consultant to the acting management of ABP with regard to certain
executive compensation and employment issues. You have assumed the
responsibilities of this consulting position. This letter is to extend the
period of your service in this role through February 29, 2000.
Pursuant to the previously-agreed to arrangement, you will continue to
receive compensation in the amount of $400.00 per hour for your services in
this consultant capacity.
Please sign this letter as your acknowledgement of the terms of this
arrangement.
Very truly yours,
/s/ C. XXXXXXX XXXXXX
-----------------------------------------
On Behalf of the ABP Board of Directors
AGREED AND ACKNOWLEDGED:
/s/ W. XXXXX XXXX
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W. Xxxxx Xxxx
Date: 12/31/99
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