Agreement
This agreement is between Xxxxxx X. Xxxxxxx and Snap-on Incorporated. Xxxxxx is
currently a member of the Snap-on Incorporated Board of Directors and receives
fees according to the adopted fee schedule.
Xxxxxx is also an active member of the following boards:
o Snap-on Credit LLC
x Xxxxxxxx Repair Information Company - Chairman
o Cartec - Chairman
o A.S.E. on Snap-on's behalf - Past Chair
Xxxxxx provides consultation to the following:
o Transportation Group
o Xxxx Xxxxx and the GPC Initiative
o Any other activity or project as needed
This agreement covers the annual periods of January 1, 2000 - December 31, 2000
and January 1, 2001 - December 31, 2001. The annual fee for each period is
$75,000.00. The fees paid as a member of Snap-on's Board of Directors are to be
subtracted from the $75,000.00 with the exception of the Board Committee fees
earned. The fee for 2001 would be paid if the Snap-on Board responsibility were
eliminated.
/s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
Dated: January 19, 2001
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/s/Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
Dated: January 11, 2001
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