CONSULTING EMPLOYMENT AGREEMENT
THIS CONSULTING EMPLOYMENT AGREEMENT (the "AGREEMENT") is made and
entered into as of the 1st day of January, 2000, by and between FINTUBE
TECHNOLOGIES, INC., an Oklahoma corporation, with its principal place of
business located at 15660 N. Dallas Parkway, Suite 500, Dallas, Texas 75248
(the "COMPANY"), Jerry E. Ryan, an individual residing at 3201 East 65th
Street, Tulsa, Oklahoma 74136 (the "EMPLOYEE"), and LONE STAR TECHNOLOGIES,
INC., a Delaware corporation with its principal place of business located at
15660 N. Dallas Parkway, Suite 500, Dallas, Texas 75248 (the "GUARANTOR").
A. The Company has acquired substantially all of the assets of
Fintube Limited Partnership, and has determined that it is in the best
interest of the Company for the Company to employ the Employee to render
advice to the Company for the term of this Agreement.
B. The Employee has considerable knowledge and experience relating
to the business of the Company, as a result of the Employees past service as
the founder and the Chief Executive Officer of Fintube Limited Partnership,
the predecessor of the Company.
C. The Employee is willing to be employed by the Company to render
advice to the Company, pursuant to the terms of this Agreement.
NOW, THEREFORE, in consideration of the foregoing, of the mutual
promises set forth herein, and of other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties agrees
1. EMPLOYMENT. For the term of this Agreement, the Company
hereby employs the Employee and agrees to pay to or for
the benefit of the Employee, the consideration set forth
herein for the Employee's services hereunder. For the
term of this Agreement, the Employee hereby accepts his
employment by the Company for the consideration to be
paid by the Company hereunder.
2. ACTIVITIES OF EMPLOYEE. For the term of this Agreement,
the Employee agrees to provide services to the Company
with regard to the Company's business and operations, as
mutually agreed by the Employee and the Company, at
mutually acceptable times, in Tulsa, Oklahoma or at any
other mutually satisfactory location.
The Employee shall advise the Company in connection with the
maintenance and furtherance of satisfactory relationships
between the Company and its existing and prospective customers
and others having business relationships with the Company, and
in connection with representing the Company to trade groups
and other organizations generally. In addition, Employee will
lead the development of major Company expansion strategies for
international markets, including but not limited to Mexico and
South America. Employee will assist in the preparation and
evaluation of the Company's annual business and capital plan.
Employee will also support the enhancement of the Company's
customer, supplier and other industry relationships to expand
markets and increase profitability. Employee will participate
in the formulation of management development plans and key
employee evaluations. Employee shall contribute to technology
development and product enhancements for all product segments.
Employee will assist Guarantor with corporate and investor
relations, as needed.
3. REPRESENTATIONS. WARRANTIES AND COVENANTS OF EMPLOYEE.
The Employee represents and warrants that he has not
committed to any employment or consulting duties, and
will not, for the term of this Agreement, assume any
such duties which would interfere with his provision of
services to the Company hereunder.
4. OFFICE/SECRETARIAL ASSISTANCE. For the term of this Agreement,
the Company will pay the expense of the Employee's current
office space and secretarial assistance in Tulsa, Oklahoma, to
allow the Employee to provide the services required hereunder.
5. CONSIDERATION. The Company shall pay to the Employee,
for the Employee's services hereunder, the following
a) BASE CONSIDERATION. The Company shall pay to the
Employee, commencing on January 1, 2000, and
continuing on the 15th and the last day of each
month thereafter until December 31, 2002, the
amount of ELEVEN THOUSAND FOUR HUNDRED AND
SEVENTEEN DOLLARS ($11,417) on the 15th and the
last day of each month, as the Employee's "BASE