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"Initial Term"). Following the Initial Term, and upon the mutual agreement of the parties, Yaklich's employment by each Company may be continued on an at-will basis. 1. Dunes. 2.1 Duties. During the term of this Agteement, Yaklich shall be an employee of such Company and shall be responsible for locating buyers for the Assets and for assisting in negotiating the terms and conditions of the sale of the Assets. 2.2 Performance of Duties. Throughout the term of this Agreement, Yaklich shall use his best efforts to loyally and conscientiously perform all of the duties and obligations required of him by the terms of this Agreement. 1.3. TFme Devoted by Yaklich. During the Term of this Agreement, Yaklich shall devote such time and effort as shall reasonably be necessary to provide the services described in this Agreement. 3. Compensation. 3.1 Base Compensation. The Reorganized CF&I Steel Corporation shall pay to Yaklich a salary of Eight Thousand Dollars ($8,000.00) per month, payable no less frequently than monthly ("Base Compensation"). 3.1 Contingent Compensation. Each Company shall pay to Yaklich an amount equal to two percent (2 °k) of the gross purchase price received by such Company for a sale of its Assets (unreduced by any adjustments for environmental issues or sales tax issues), less any Base Compensation paid by such Company, less a total of One Thousand Five Hundred Dollars ($1,500.00) (the allocation between the Companies of such amount to be decided between them), if and when each of the following conditions have been met: (a) Yaklich produces a buyer ready, willing and able to buy the Assets belonging to such Company upon terms acceptable to the Company in its discretion and approved by the United States Bankruptcy Court for the District of Utah (the "Court7, (b} such buyer enters into a binding contract for the purchase of such Assets upon such terms, and (c) such buyer completes the purchase of such Assets by closing title in accordance with such contract. If the buyer is unable, unwilling or defaults in the purchase, the Company will not be required to pay any contingent compensation to Yaklich. For purposes of calculating the gross purchase price of the Assets of Reorganized CF&I Steel Corporation, "gross purchase price of the Assets" shall include only the purchase price allocated to the plant, property and fixtures and Yaklich shall receive no contingent compensation for the sale of inventory or receivables. For purposes of calculating the gross purchase price of the Assets of Reorga- nized Kansas Metals Company, "gross purchase price of the Assets" shall include the purchase price of all of the assets of Kansas Metals, including, without limitation, the inventory and receivables. -2-