Exhibit 10.3
June 8, 2001
Engagement Letter
Mr. Richard K. Brock
4816 25th Street
San Francisco, CA 94114
RE: Consulting Services
Dear Rick:
Thank you for agreeing to provide certain accounting services to PLM
International, Inc. or its affiliates, ("PLM"). These services will include the
review of and hands on assistance necessary to successfully transfer the
accounting functions, including any SEC reporting requirements to Echelon from
PLM and to take an active role on the Equis Transition Team to finalize and
streamline the transfer of accounting activities from the Boston office to St.
Petersburg. You will be required to travel between San Francisco, St.
Petersburg and Boston from time to time.
For your services, PLM will pay you a Consulting Fee, ("Fee") of $5,291.75
per week covering the period of June 11th, 2001 through August 6th, 2001. After
August 6th, 2001, you will be paid a Fee of $3,311.00 per week. Invoices for
payment should be submitted semi-monthly and provide sufficient detail to allow
for project allocation as to the hours worked and project or fund to be charged.
These payments will constitute the only payment to you for all services rendered
in connection with services you provide to PLM. You shall at all times be an
independent contractor to PLM and as such will be responsible for the payment of
all federal, state and local taxes, FICA payments or the like out of the Fee
paid to you for your services. Provided the expenses are pre-approved, PLM
shall reimburse you for any reasonable and documented out-of-pocket expenses
incurred by you in connection with services provided.
Rick - thanks again for providing additional assistance to PLM.
Sincerely,
/ s / Antonia Williams, as Agent for PLM
RECEIVED AND ACKNOWLEDGED:
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_Richard K. Brock
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