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CPI CORP | Paul C. Rasmussen. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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EXHIBIT 10.101
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July 25, 2005 |
Mr. Jack Krings
36 Briarcliff
Ladue, MO 63124
RE: Consulting Services
Dear Jack:
This will confirm the terms of your engagement by CPI Corp. (“CPI”) for consulting services:
1. You will be assist with the transition of Paul C. Rasmussen as Chief Executive Officer, oversee field management and carry out other projects consistent with your operational background and experience under the direction of the Chairman of the Board.
2. The term of your engagement shall be for two months, commencing as of the date following your Retirement Date, as defined in that certain Retirement and Release Agreement of even date herewith (the Retirement and Release Agreement”). You will be expected to perform consulting services for a minimum of forty days during the two-month term or at such other times as are mutually agreeable.
3. You will be paid Eighty Thousand Dollars ($80,000.00) for the two-month term of your service, payable in four equal increments of $20,000 each on August 12, 2005, August 26, 20
