{"id":38706,"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-services-agreement-enron-corp-and-john-a-urquhart.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"consulting-services-agreement-enron-corp-and-john-a-urquhart","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/consulting-services-agreement-enron-corp-and-john-a-urquhart.html","title":{"rendered":"Consulting Services Agreement &#8211; Enron Corp. and John A. Urquhart"},"content":{"rendered":"<pre>\n      FIFTH AMENDMENT TO CONSULTING SERVICES AGREEMENT\n                              \n\n     This Agreement, made and entered into and effective as\nof the 8th day of August, 1995 (the 'Effective Date'), by\nand among John A. Urquhart, whose address is 111 Beach Road,\nFairfield, Connecticut 06430 ('Consultant'), Enron Corp., a\nDelaware corporation ('Enron' or 'Company'), and Enron Power\nCorp., a Delaware corporation ('EPC'), is an amendment to\nthat certain Consulting Services Agreement entered into\namong the parties and effective as of the first day of\nAugust, 1991.\n\n     WHEREAS, the parties desire to amend the Consulting\nServices Agreement;\n\n     NOW, THEREFORE, in consideration of the Consultant's\ncontinued engagement with Company and of the covenants\ncontained herein, the parties agree as follows:\n\n     1.   The parties agree that the Term of the Consulting\nServices Agreement is extended through December 31, 1997.\nUpon the mutual consent of both parties, the Term may be\nextended for a period of twelve (12) months beyond December\n31, 1997.\n\n     2.   Effective January 1, 1996, Paragraph (3)A of the\nConsulting Services Agreement is deleted and the following\nis inserted in its place:\n\n     'A.  During the term of this Agreement, Consultant\nshall be paid as follows:\n\n          i.   For the period beginning January 1, 1996 and\n          ending December 31, 1996, Consultant shall be paid\n          a fee of Forty-Two Thousand Dollars ($42,000.00)\n          per month (the 'Fee').  If or when the number of\n          days in the twelve month period for which\n          Consultant provides consulting services thereunder\n          exceeds the Consulting Time, then Consultant shall\n          be paid a daily rate of Four Thousand Two Hundred\n          Dollars ($4,200.00; 'Additional Remuneration');\n\n          ii.  For the period beginning January 1, 1997 and\n          ending December 31, 1997, Consultant shall be paid\n          a fee of Forty-Four Thousand One Hundred Dollars\n          ($44,100.00) per month (the 'Fee').  If or when\n          the number of days in the twelve month period for\n          which Consultant provides consulting services\n          thereunder exceeds the Consulting Time, then\n          Consultant shall be paid a daily rate of Four\n          Thousand Four Hundred Ten Dollars ($4,410.00;\n          'Additional Remuneration').\n\n     The Fee shall be paid by Company to Consultant on a\n     monthly basis, on or before the 10th day of the month\n     following each calendar month in the term of this\n     Agreement.'\n\n     3.   Paragraph 3 of section (3)E of the Consulting\nServices Agreement has been added and provides as follows:\n\n          'A grant of Phantom Stock Appreciation Rights,\n          effective December 29, 1995, and exercisable until\n          December 31, 1998 is granted, which shall vest\n          fifty percent (50%) six (6) months after the date\n          of the grant and fifty percent (50%) one (1) year\n          after the date of the grant for a number of shares\n          equal to the number of outstanding Phantom Stock\n          Appreciation Rights exercised by Consultant during\n          the period of July 15, 1995 through December 31,\n          1995 up to a maximum of 50,000.  This grant shall\n          not be exercisable after December 31, 1998.'\n\n     4.   Paragraph (2)A is amended by adding the following\nlanguage:\n\n          'The Company reserves the right to change\n          Consultant's title from Vice Chairman of the Board\n          of Enron to some other mutually agreed upon title.\n          Consultant's failure to consent to any title\n          change will not trigger the termination provisions\n          of Paragraph (15).'\n\n     5.   This Agreement is the fifth amendment to the\nConsulting Services Agreement as previously amended, and the\nparties agree that all other terms, conditions and\nstipulations contained in said Consulting Services Agreement\nand the previous amendments thereto shall remain in full\nforce and effect and without any change or modification,\nexcept as provided herein.\n\n     IN WITNESS WHEREOF, the parties have duly executed this\nAgreement as of the date first above written.\n\n                              ENRON CORP.\n                                        \n                                        \n                              RICHARD D. KINDER\n                              Name: Richard D. Kinder\n                              Title:\n                              \n                          \n                              \n                              \n                              \n                              ENRON POWER CORP.\n                              \n                              \n                              THOMAS E. WHITE\n                              Name: Thomas E. White\n                              Title:\n                              \n                              \n                             \n                              \n                              JOHN A. URQUHART\n                              \n                              JOHN A. URQUHART\n                              \n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7454],"corporate_contracts_industries":[9535],"corporate_contracts_types":[9539,9541],"class_list":["post-38706","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-enron-corp","corporate_contracts_industries-utilities__gas","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\/38706","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=38706"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38706"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38706"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}