{"id":38683,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/consulting-agreement-metropolitan-life-insurance-co-and-harry.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"consulting-agreement-metropolitan-life-insurance-co-and-harry","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/consulting-agreement-metropolitan-life-insurance-co-and-harry.html","title":{"rendered":"Consulting Agreement &#8211; Metropolitan Life Insurance Co. and Harry P. Kamen"},"content":{"rendered":"<pre>\nMr. Harry P. Kamen\n910 Park Avenue\nNew York, NY 10021\n\nDear Mr. Kamen\n\nMetropolitan Life Insurance Company ('MetLife') wishes to retain you as a\nconsultant for a period of one year beginning July 1, 1998. This letter sets\nforth the terms and conditions upon which we offer to retain you and, if it is\nacceptable by you, shall constitute our agreement with respect to such period.\n\nDuring the period of this retainer, you will act as a consultant and undertake\nspecial assignments with respect to such matters as shall be designated by the\nChief Executive Officer of MetLife ('CEO'). It is expected that your\nassignments will include assisting the CEO in connection with:\n\n-   MetLife's efforts to access the public equity markets (including MetLife's\n    Mutual Holding Company initiative).\n\n-   Promoting the interests of MetLife and the life insurance industry with\n    government and industry entities and officials, including interfacing\n    with officials, maintaining various civic and industry relationships\n    (including serving as Chairman of the 'Mutual Tax Committee') and \n    facilitating the transition of those relationships to the CEO and his\n    designees.\n\n-   Enhancing the value of MetLife's international insurance activities by,\n    among other things, fostering MetLife's relationships with its joint\n    venture partners and pursuing licenses for MetLife in selected countries.\n\n-   Such other assignments as the CEO and you may mutually agree upon.\n\nIt is also understood that you will continue to serve as a director of Banco\nSantander and of the New England Investment Companies (now named Nvest), for as\nlong as you, the CEO and such companies mutually agree.\n\nYour relationship with MetLife will be that of an independent contractor and not\nthat of an employee and you will be free to control your own time and method of\nwork within the framework of your obligation to MetLife to provide in a timely\nmanner the services requested of you by this letter.\n\nIt is understood that you will not be entitled to or be eligible for any\nbenefits or privileges given or extended by Metlife to its employees other than\nthose to which you are entitled by virtue of your prior employment with MetLife.\n\nFor service under this agreement, we will pay you monthly at the annual rate of\n$500,000 for the first twelve months or such shorter period this agreement is\nin effect. This amount shall not be reduced because of any fees you receive as\na director of MetLife or as a director of any publicly-traded affiliate of\nMetLife. The amounts payable hereunder shall be earned in equal monthly\ninstallments during the period of this agreement.\n\nWe will provide you, at no charge to you, with an office and secretarial\nsupport at 200 Park Avenue, as well as a car for use in connection with your\nconsulting assignment, primarily for use within Manhattan and to area airports.\nIn addition, we will reimburse you for your reasonable and necessary\nout-of-pocket expenses incurred on our behalf during the period. You will\nsubmit appropriate documentation with respect to such expenses in accordance\nwith MetLife's customary procedures.\n\nIt is expected that this agreement will require a substantial amount of your\nbusiness time. Nonetheless, this agreement shall not prevent you from\nundertaking consultative or other work for other clients provided that such\nmatters will not interfere with the performance of your services hereunder nor\ninvolve possible conflicts with the interests of MetLife. You will consult with\nthe CEO before undertaking any such other work and will abide by our judgment\nas to whether it would violate the spirit of this agreement. None of your\npresent directorships or other positions (see attached list) now constitute\nsuch a conflict.\n\nThis agreement may be terminated by MetLife or by you at any time upon ten\ndays' notice to the other party and shall be automatically terminated in the\nevent of your death or a disability preventing you from carrying out your\nassignments hereunder for a period of 30 days.\n\n                                      -2-\n\nIf the foregoing terms are agreeable to you, please sign the enclosed copy\nhereof and return it to me.\n\n\nSincerely\n\n\n\/s\/ Robert H. Benmosche            6\/30\/98\n\n    Robert H. Benmosche\n    President and Chief Operating Officer\n\n\nI accept the foregoing offer:\n\n\n\/s\/ Harry P. Kamen                 6\/30\/98\n------------------------------------------\n    Harry P. Kamen\n\n\n\n\n\n                                      -3-\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8205],"corporate_contracts_industries":[9445],"corporate_contracts_types":[9539,9541],"class_list":["post-38683","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-metlife-inc","corporate_contracts_industries-insurance__life","corporate_contracts_types-compensation","corporate_contracts_types-compensation__consulting"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38683"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38683"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38683"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}