NAVARRE CORPORATION
EXHIBIT 10.2
PART TIME AGREEMENT
THIS AGREEMENT is made and entered into this 2nd day of January, 2002, by and
between NAVARRE CORPORATION, a Minnesota corporation ("Company"), and XXXXXXX
X. XXXXXX, the Company's Vice Chairman, Executive Vice President, Secretary and
Treasurer ("Executive").
The Company and Executive mutually desire to enter into this Part Time Agreement
to facilitate the Executive's desire to complete his law degree. The Executive
commits to returning to the Company upon completion of law school. The terms and
conditions are outlined below:
1. Executive will perform Navarre business activity as a consultant being paid
$250 per hour to a maximum annual fee of $135,000.
2. As a consultant, the Executive will have responsibility for treasury,
legal, human resources, and operations functions.
3. Executive remains head of the Finance Committee.
4. Executive will remain the Company's Vice Chairman of the Board.
5. Executive agrees to attend all Board and Board Committee meetings.
6. Executive will retain all current employee benefits to include medical,
dental, life, STD, LTD, and 401K account.
7. The Company agrees to pay for the Executive's law school tuition and books
during the term of this Agreement.
8. The term of this Agreement shall be for one (1) year.
9. The Board of Directors, at its sole discretion, shall determine whether any
bonus shall be paid to Consultant.
The parties below have executed this Consultant Agreement as of the date first
set forth above.
NAVARRE CORPORATION, a Minnesota corporation
By: By:
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Xxxx X. Xxxxxxx Xxxxxxx X. Xxxxxx
Its: President and Chairman Its: Vice Chairman
