CONSULTING AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
THAT, in consideration of the premises and the mutual
agreements contained herein, DEVON ENERGY CORPORATION (the
"Company"), a Delaware corporation of 1500 Mid-America
Tower, Oklahoma City, Oklahoma 73102, has retained XXXXXX X.
XXXXXXXX ("Consultant"), of 00 Xxxxx Xxxxxx, Xxxxxx X0X00X,
Xxxxxxx, as a consultant for the Company under the following
terms and conditions:
1. Consultant shall use his best efforts and shall
devote such time as may be necessary in maintaining the best
possible relations between the Company, the shareholders of
the Company and other Company project investors and
participants in Europe; in assisting in identifying
additional corporate opportunities for the Company involving
European investors or participants; in establishing and
maintaining the best possible relations with such
prospective investors or participants; and in generally
assisting the Company in each of such matters or others
which are agreed upon by the parties from time-to-time.
2. Consultant shall provide the Company reports as often
as may be appropriate
under the circumstances (but no less than quarterly)
describing the services performed hereunder and identifying
the personal contacts made by Consultant, each in sufficient
detail to adequately keep the Company apprised of the
actions of Consultant hereunder.
3. It is recognized by the parties that Consultant's
obligations hereunder are limited, and that Consultant's
services shall be performed on a part-time basis only. The
parties agree that Consultant is not and shall not be
considered to be an employee of the Company, nor shall
Consultant be authorized to take any action on the Company's
behalf nor shall Consultant be authorized to obligate
Company in any manner.
4. The Company shall pay Consultant for his services
hereunder the sum of U.S. $30,000 per year in equal,
quarterly installments. In addition, the Company shall
reimburse all reasonable out of pocket expenses incurred by
you in performing services hereunder. Unless specifically
agreed to by the parties in a separate, written agreement,
no other compensation, benefit or fee shall be due
Consultant by the Company for these or other services
performed by him.
5. This Agreement may be terminated by either party
upon simple, written notice one to the other.
EXECUTED as of the 1st day of June, 1989.
DEVON ENERGY CORPORATION
By: /s/ X. Xxxxx Xxxxxxx
X. Xxxxx Xxxxxxx,
President
By:/s/ Xxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx
