Consulting Agreement between Eric J. McCracken and Aerosonic Corporation (J. Mervyn Nabors)

Summary

This agreement was between Eric J. McCracken and Aerosonic Corporation, represented by J. Mervyn Nabors, for consulting services. McCracken was to provide financial or production expertise as needed, up to 100 hours per year, either remotely or on-site. Compensation was set at $200 per hour for remote work and $300 per hour for on-site work, plus expenses. A $10,000 retainer was required, and services were billed monthly with payment due in 15 days. The agreement has since been terminated.

EX-10.14 24 dex1014.txt TERMINATED CONSULTING AGREEMENT [THIS AGREEMENT HAS BEEN TERMINATED.] Exhibit 10.14 Consulting Agreement Scope of work To provide financial or production related expertise on an as-needed basis either electronically, by telephone or on-site as mutually agreed upon between J. Mervyn Nabors and Eric J. McCracken on any and all matters as Nabors and McCracken see fit. Time commitment: Maximum of 100 hours per twelve-month period from effective date of agreement Fees and expenses: By phone or electronically: $200.00 per hour with availability during normal business hours plus long-distance telephone charge reimbursement On site: $300.00 per hour during normal business hours plus reasonable travel and lodging Retainer: $10,000.00 retainer will be required to bind this agreement Billing: Consulting time and expenses will be billed on a monthly basis to the attention of J. Mervyn Nabors, and will carry net 15-day payment terms from invoice date Acceptance: By: /s/ ERIC J. MCCRACKEN/ 11/21/02 - ---------------------------- Eric J. McCracken Date Consultant /s/ J. MERVYN NABORS/ 11/21/02 - ---------------------------- J. Mervyn Nabors Date Chairman, CEO Aerosonic Corporation