ContractChairman of the Board Agreement • August 7th, 2001 • Methode Electronics Inc • Electronic connectors • Illinois
EXHIBIT 10.20 AGREEMENT This Agreement ("Agreement") is made and entered as of this 1st day of February, 2001, by and between Methode Electronics, Inc. ("Methode") and W.T. Jensen ("Jensen"). WHEREAS, Jensen has been elected as Chairman of the Board of Directors of Methode and has substantial operational, financial and other knowledge about Methode and its various business operations; WHEREAS, Methode desires to compensate Jensen for his services as Chairman of the Board of Directors; and WHEREAS, the parties intend this Agreement to govern their relationship for the term of this Agreement. NOW, THEREFORE, in consideration of the promise and mutual agreements herein, Methode and Jensen agree as follows: 1. Methode hereby retains Jensen and Jensen hereby agrees to provide services as Chairman of the Board of Directors with such duties and responsibilities as the Board of Directors shall in its reasonable discretion decide upon. Jensen shall perform these services at Methode’s offices at
