CONSULTING AGREEMENTConsulting Services Agreement |
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Briggs & Stratton Corporation | Stephen H. Rugg. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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Exhibit 10.5
CONSULTING AGREEMENT
THIS CONSULTING AGREEMENT (this “Agreement”) is made as of May 1, 2005 by and between Briggs & Stratton Corporation, a Wisconsin corporation having its principal business office at 12301 West Wirth Street, Wauwatosa, Wisconsin 53222 (the “Company”), and Stephen H. Rugg (the “Consultant”).
WHEREAS the Consultant has notified the Company that he plans to retire from the Company effective May 15, 2005, and the parties mutually desire that the Consultant be retained by the Company after his retirement to provide certain consulting services in accordance with the provisions of this Agreement,
NOW, THEREFORE, in consideration of the premises and the mutual promises hereinafter set forth, the parties agree as follows:
1. Scope of Work. The Consultant is hereby retained by the Company for the period from May 16, 2005 through May 15, 2007 to advise and act as a consultant to the Company in connection with the following activities, when and as requested by the Company’s Senior Vice President – Administration, Senior Vice President and President – Briggs & Stratton Power Products Group, LLC, and Vice President – Sales & Marketing:
| (a) | Provide advice to management relating to the Company’s current and future business relationships with original equipment manufacturers and retailers of outdoor power equipment worldwide. |
| (b) | Provide advice to management relating to implementation and optimization of the Company’s strategic plan and pricing strategy as they affect original equipment manufacturers and retailers of outdoor power equipment worldwide. |
| (c) | Assist management in training employees of the Company who are engaged in the sales and marketing functions. |
| (d) | At management’s request, communicate with designated customers of the Company and provide other services as assigned. |
2. Compensation. The Company shall pay the Consultant in consideration of this retainer and for services performed hereunder at a rate of $25,000 per month from May 16, 2005 through May 15, 2006 and $16,667 per month from May 16, 2006 through May 15, 2007, plus reasonable travel and living expenses payable at the end of each month. The Consultant will submit invoices to the Company monthly stating the specific dates on which he incurred such expenses with appropriate documentation of the amount of such expenses.
3. Standard of Performance. Consultant shall perform the services hereunder in compliance with applicable law and with the same degree of skill and care he observed in working as an employee of the Company. All such services shall reflect his best professional knowledge, skill and judgment.
4. Information Rights and Non-Disclosure. The Company shall have full and unrestricted rights to use and publish any information provided by the Consultant in performing services under this A
