eTrade 2009 Annual Report Download - page 238
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CONSULTING AGREEMENT
December 18, 2009
Donald H. Layton
Dear Don:
This letter agreement sets forth the terms and conditions of your consulting services to E*TRADE Financial Corp. (the
“Company”), effective December 31, 2009 through June 30, 2010 (the “Consulting Period”).
Services. You agree to be available for part-time consultation with the Company’s Chief Executive Officer, whether interim or
permanent, as reasonably requested by the Company in order to facilitate such Chief Executive Officer’s transition.
Compensation. Your compensation hereunder during the Consulting Period will consist of the following:
Independent Contractor Status. You understand that, during the Consulting Period, you will not be an employee of the
Company. To the extent consistent with applicable law, the Company will not withhold any amounts from any consulting fees paid
hereunder as federal income tax withholding or as employee contributions under the Federal Insurance Contributions Act or any other
state or federal laws. You shall be solely responsible for the withholding and/or payment of any federal, state or local income or
payroll taxes.
Confidentiality. You agree to treat as confidential and not to publish, distribute or otherwise disclose in any manner (except to
employees, consultants and advisors of the Company who agree to be bound by these provisions) any information received from the
Company or its representatives in connection herewith, without the prior written approval of the Company (such approval shall not be
unreasonably withheld). Upon termination of your services hereunder, you shall promptly deliver to the Company all copies in
1
Re: Consulting Services Agreement
•
A fee of $1,100 per hour worked at the request of the Company.
•
You shall be reimbursed in accordance with the policies of the Company for necessary and reasonable business and travel
expenses incurred by you in connection with the performance of your duties hereunder.
•
All fees or expense reimbursements due to you shall be paid promptly upon submission of a listing of the time or expenses,
together with supporting documentation reasonably requested by the Company.