Exhibit 10.35
May 17, 2000
The Honorable Gabrielle K. McDonald
425 E. 58th Street, # 31D
New York, NY 10022-2300
Dear Judge McDonald:
Supplemental Agreement Providing a Change to the
Consulting Agreement of November 1, 1999
This Supplemental Agreement refers to the consulting agreement of
November 1, 2000 (the "Consulting Agreement"), with the undersigned,
FM Services Company (the "Company"), with respect to your performance
of consulting services for FM Services and its subsidiaries and
affiliates (collectively with FM Services, the "Freeport Entities").
By way of this Supplemental Agreement, the Company would like to
amend your Consulting Agreement, increasing your annual retainer
to $500,000 effective January 1, 2000, and through December 31, 2001.
The annual retainer for the calendar year 2002 will return to $250,000.
Payment representing your increase retroactive to the first of the year
will be sent to you shortly. The third quarter payment (due in July)
will reflect our new Agreement in the amount of $125,000.
By way of this Supplemental Agreement, you and the Company agree that
the consulting services under this Agreement shall be increased from 20%
to not more than 50% of your time on an annual basis through December 31,
2001. The consulting services under this Agreement for the
calendar year 2002 will return to 20% of your time on an annual basis.
All other terms and conditions of the Consulting Agreement shall remain
unchanged.
Please confirm that the foregoing correctly sets forth your understanding
with respect to this matter by signing both originals of this Supplemental
Agreement and returning one to me.
Very truly yours,
Richard C. Adkerson
Chairman
FM Services Company
AGREED TO AND ACCEPTED:
BY: __________________________________ DATE: ______________________________
The Honorable Gabrielle K. McDonald
