Exhibit 10.02
Agreement Between
Vivid Technologies Inc. and Ambassador L. Xxxx Xxxxxx, IIII
This agreement is entered into, effective from this date,
between Vivid Technologies, Inc. ("Vivid") and Ambassador L. Xxxx
Xxxxxx, III ("Ambassador Xxxxxx"). Under the terms of this
agreement, Vivid engages Ambassador Xxxxxx, and Ambassador Xxxxxx
agrees, to provide Vivid as required with advice ad counsel on
international political, economic, and commercial developments
which may effect Vivid's business interests in various countries
around the world.
In compensation for Ambassador Xxxxxx'x advice and counsel,
Vivid agrees to pay Ambassador Xxxxxx $25,000 per year. Payment
will be made quarterly in advance with the first payment due on
the date of this agreement.
Agreed and accepted:
By: /s/ S. Xxxxx Xxxxxxxxxx By: /s/ L. Xxxx Xxxxxx, III
Vivid Technologies, Inc. L Xxxx Xxxxxx, III
The term of this Agreement (the "Term") shall commence on the
date of Vivid's execution of this Agreement and shall end on the
first anniversary thereof; provided, however, that the Term of
this Agreement shall automatically be extended for additional
periods of twelve (12) months each unless and until either party
shall give written notice of termination to the other party not
less than 90 days prior to the scheduled commencement of any such
extended period. In no event shall the termination of this
Agreement affect or modify Vivid's obligation to pay the Fees as
set forth above.
