AGREEMENT TO CONSULT, COMPENSATION FOR CONSULTING AND SETTLEMENT OF RELEASED CLAIMS Sample Clauses

AGREEMENT TO CONSULT, COMPENSATION FOR CONSULTING AND SETTLEMENT OF RELEASED CLAIMS. As consideration for the mutual obligations of BXXXXXXX and SHAW, all amounts BXXXXXXX may claim to be entitled as a result of his Employment Agreement and employment with SHAW up to the Effective Date, and for release of all claims as set forth in Paragraph 3 and Paragraph 4, SHAW and BXXXXXXX agree as follows: a. XXXXXXXX’x Employment Agreement is terminated as of the close of business on the day prior to the Effective Date. b. Beginning on the Termination Date and until November 18, 2008 (the “Consulting Period”), BXXXXXXX agrees to provide, in a reasonably timely and efficient manner, advice and assistance to SHAW related to its operations about which he has particular and intimate knowledge and familiarity, for which he is reasonably requested from time to time in writing by an executive officer of SHAW (“Consulting Services”) as needed by SHAW, but, unless BXXXXXXX shall otherwise expressly consent in writing, not to exceed the number of hours set forth below for the periods indicated and not to involve travel beyond a 50-mile radius of Baton Rouge, Louisiana without Bxxxxxxx’x consent; which shall not be unreasonably withheld: i) From the Effective Date through May 18, 2007, up to 20 hours per week, ii) From May 19, 2007 through November 18, 2007, up to 10 hours per week, iii) From November 19, 2007 through November 18, 2008, up to10 hours per month. There shall be no carryover of unused hours from any week or month to any subsequent period. BXXXXXXX is permitted to accept full-time or other employment (not otherwise prohibited by his Noncompetition Agreement) during the Consulting Period as long as his employer authorizes him to devote the above number of hours to his Consulting Services for SHAW. c. XXXX shall pay BXXXXXXX during the Consulting Period, as follows: i) for the period November 19, 2006 through November 18, 2007, the amount of $54,166.66 per month; and ii) for the period November 19, 2007 through November 18, 2008, the amount of $27,083.33 per month in each case payable on the first day of each month. Any costs and all reasonable expenses associated with such consulting shall be reimbursed by Shaw and shall include reasonable reimbursement for the costs of office space and for an administrative assistant, not to exceed $1,000 per month, and one personal computer. d. If BXXXXXXX provides Consulting Services to SHAW for more than the applicable number of hours set forth in b (i)—b (iii) during any such period, he shall be entitled to ad...
Sample 1
AutoNDA by SimpleDocs

Related to AGREEMENT TO CONSULT, COMPENSATION FOR CONSULTING AND SETTLEMENT OF RELEASED CLAIMS

  • Amendment to Employment Agreement 2 of the Employment Agreement is amended and restated in its entirety to read as follows:

  • Separation Agreement and General Release The Company’s obligation to make the Severance Payment is conditioned on Executive or Executive’s legal representatives executing a separation agreement and general release of claims related to or arising from Executive’s employment with the Company or the termination of employment against the Company and its affiliates (and their respective officers and directors) in a form reasonably determined by the Company, which shall be provided by the Company to Executive within five days following the Date of Termination; provided that, if Executive should fail to execute (or revokes) such release within 45 days following the Date of Termination, the Company shall not have any obligation to provide the Severance Payment. If Executive executes the release within such 45-day period and does not revoke the release within seven days following the execution of the release, the Severance Payment will be made in accordance with Section 4(a)(ii).

  • COMPENSATION TO CONSULTANT The Consultant's compensation for the Consulting Services shall be as set forth in Exhibit B attached hereto and incorporated herein by this reference.

  • Compensation for Consulting Services For each quarter (i.e., three-month period) that Executive provides consulting services to MediciNova pursuant to the option of MediciNova contained in Section 9 above, MediciNova shall pay Executive a sum equal to fifteen percent (15%) of Executive’s annual Base Compensation which shall be applicable at the time of Executive’s termination of employment with MediciNova (prorated for any period of less than a quarter). The parties expressly agree that when Executive is performing consulting services for MediciNova, Executive is acting as an independent contractor. Therefore, Executive shall be solely liable for Social Security and income taxes that result from Executive’s compensation as a consultant. In addition, Executive shall not be entitled to any other benefits including, without limitation, such group medical, life and disability insurance and other benefits as may be provided to employees and/or executives of MediciNova.

  • A-E Compensation and Extra Work 1.5.1. For the PROJECTS/SERVICES authorized under this CONTRACT, A-E shall be compensated in accordance with the following: 1.5.2. For completion and approval of all PROJECTS/SERVICES where “Extra Work” (defined as changes in approved portions of the PROJECT/SERVICES required by and ordered in writing by DIRECTOR which changes constitute a change in or departure from said approved portions of PROJECTS/SERVICES) is not authorized, compensation including reimbursables shall be described and payable as stipulated in Fee Schedule, herein after referred to as “Attachment B”, attached hereto and incorporated herein by reference. 1.5.3. Where extra work is authorized for PROJECTS/SERVICES: a. The amount for Extra Work shall be determined using Attachment B. Extra Work shall be required by and ordered in writing by DIRECTOR. If this CONTRACT is not approved by the Board of Supervisors, any change that increases the cumulative CONTRACT price beyond $100,000 must be approved by the Board. Increases in the CONTRACT amount for services within the existing scope of work may be granted by the DIRECTOR where the amount does not exceed 25 percent of the existing CONTRACT price or $100,000, whichever is less. b. A-E's billing for the Extra Work shall include but not be limited to names of A- E's staff employed in the Extra Work, classification of employees and number of hours worked. 1.5.4. For partial completion of work of PROJECTS/SERVICES followed by default on part of A-E: a. For failure to complete and secure approval of the first required submittal, there shall be no compensation. b. For failure to complete and secure approval of other authorized phases, A-E shall, upon completion of PROJECTS/SERVICES by others, be entitled to receive compensation based on approved work of PROJECTS/SERVICES not to exceed the amounts specified in Attachment A for that particular submittal, plus the reasonable value as determined by COUNTY of the non-approved work; provided, however, that if the cost to COUNTY to complete the contract exceeds the amount specified herein, A-E shall be liable to COUNTY for such excess costs attributable to A-E's breach of the CONTRACT.

  • Release of Employment Claims Executive agrees, as a condition to receipt of the termination payments and benefits provided hereunder, that he will execute a release agreement, in a form satisfactory to the Company, releasing any and all claims arising out of Executive's employment (other than claims made pursuant to any indemnities provided under the articles or by-laws of the Company, under any directors or officers liability insurance policies maintained by the Company or enforcement of this Termination Agreement).

  • Right to Severance Benefits The Executive shall be entitled to receive from the Company Severance Benefits, as described in Section 3.3 herein, if there has been a Change in Control of the Company and if, within twenty-four (24) calendar months following the Change in Control, a Qualifying Termination of the Executive has occurred. The Executive shall not be entitled to receive Severance Benefits if he/she is terminated for Cause, or if his/her employment with the Company ends due to death, Disability, or Retirement or due to a voluntary termination of employment by the Executive without Good Reason.

  • Separation Agreement and Release of Claims The Executive’s receipt of any severance payments or benefits upon the Executive’s Qualifying Termination under Section 3 is subject to the Executive signing and not revoking the Company’s then-standard separation agreement and release of claims (which may include an agreement not to disparage any member of the Company Group, non-solicit provisions, an agreement to assist in any litigation matters, and other standard terms and conditions) (the “Release” and that requirement, the “Release Requirement”), which must become effective and irrevocable no later than the sixtieth (60th) day following the Executive’s Qualifying Termination (the “Release Deadline”). If the Release does not become effective and irrevocable by the Release Deadline, the Executive will forfeit any right to severance payments or benefits under Section 3.

  • Payment of Salary and Receipt of All Benefits Employee acknowledges and represents that, other than the consideration set forth in this Agreement, the Company has paid or provided all salary, wages, bonuses, accrued vacation/paid time off, premiums, leaves, housing allowances, relocation costs, interest, severance, outplacement costs, fees, reimbursable expenses, commissions, stock, stock options, vesting, and any and all other benefits and compensation due to Employee.

  • Amendments to Employment Agreement Effective as of the date hereof, the Employment Agreement shall be amended as provided in this Section 1.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!