EXHIBIT 10.1
May 25, 1995
RETAINER AGREEMENT BETWEEN XXXXXXXXX XXX X. XXXXXXXX
AND THE VIGORO CORPORATION
This agreement is made for a three year period beginning June 1, 1995, to
June 1, 1998. The terms of this arrangement would be a retainer fee of $30,000
a year payable on a monthly basis. Because of the long-term nature of the
relationship, the per diem fee would be consistent with long-term assignments
currently undertaken by Xxxxxxxxx Xxxxxxxx at a rate of $3,000 per day. This
means that at least ten days a year will be set aside for consulting
activities appropriate to the needs of the Vigoro Corporation. If for any
reason the need for these services is increased beyond the ten day period,
then each additional day would be compensated at the same rate.
At the same time if Xxxxxxxxx Xxxxxxxx'x services are not needed, or if he
is unable to perform these services, the retainer would be reduced on a
proportional basis. Any monies that are owed for work that has been completed
in the event of Xxxxxxxxx Xxxxxxxx'x death would be made payable to his wife,
Xxxxxx X. Xxxxxxxx.
Xxx X. Xxxxxxxx
Agreed to by ___________________________________
Xxxxxxxxx Xxx X. Xxxxxxxx
5/25/95
Date____________________________________________
Xxxxxx X. Xxxxxxxx
Approved by ____________________________________
Xx. Xxxxxx X. Xxxxxxxx, Chairman
The Vigoro Corporation
6/5/95
Date____________________________________________
