Amendment to Consulting Agreement Clause Samples
The Amendment to Consulting Agreement clause allows for changes or modifications to be made to the original consulting agreement between the parties. Typically, this clause outlines the process by which amendments must be documented, such as requiring written consent signed by both parties, and may specify that verbal agreements are not sufficient. Its core practical function is to ensure that any alterations to the terms of the consulting relationship are formally agreed upon and clearly recorded, thereby preventing misunderstandings or disputes about the agreement's terms in the future.
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Amendment to Consulting Agreement. Section 7(a) of the Consulting Agreement is hereby amended by deleting current Section 7(a) and replacing it in its entirety as follows:
(a) Consultant is granted the right and option to purchase 1,000,000 shares (the "Shares") of the Company's Common Stock, exercised at the price of $.10 per Share, which right and option may be exercised from time to time, in whole or in pat, ▇▇ a cumulative basis at any time. Subject to the provisions of this Section 7(a) to the contrary, in the event that Consultant ceases to be an employee, consultant, representative or agent of the Company on or before the dates listed below, Consultant shall be obligated to forfeit to the Company any and all Shares exercised by Consultant in excess of the number of Shares set forth below:
Amendment to Consulting Agreement. The following subsections are added to Section 2 of the Statement of Work:
Amendment to Consulting Agreement. The Consulting Agreement is hereby amended as follows:
(a) Section 2(a) of the Consulting Agreement is amended and restated in its entirety to read as follows:
a. This Contract shall commence on April 1, 2000 and shall terminate on December 31, 2003.
(b) Sections 5(a) and 5(b) of the Consulting Agreement are amended and restated in their entirety to read as follows:
Amendment to Consulting Agreement. The parties hereby agree that Quantum shall have the right, at any time on or after December 31, 2015, to (i) terminate the existing Consulting Agreement between the parties or (ii) convert the existing term of the Consulting Agreement to month-to-month term.
Amendment to Consulting Agreement. ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ shall have executed an amendment to his employment/consulting agreement with the Company in the form attached as Exhibit I.
Amendment to Consulting Agreement. The Consulting Agreement is hereby amended as follows:
(a) Section 5(c) of the Consulting Agreement is amended and restated in its entirety to read as follows:
(c) As of June 29, 2000, Contractor shall be granted the financial equivalent of Duke Energy Corporation ("Duke Energy") stock options ("Duke Tracking Option") and restricted stock ("Duke Tracking Restricted Stock") to compensate Contractor in an aggregate amount of $360,000 (the "Awards"). The Awards shall be divided as follows: $247,500 of the Awards shall be attributable to the Duke Tracking Option, which shall vest in two equal increments on each of May 26, 2001 and May 26, 2002 and which shall be exercisable for thirty-six months after termination of this Contract; and $112,500 of the Awards shall be attributable to the Duke Tracking Restricted Stock, which shall vest in two equal increments on each of May 26, 2001 and May 26, 2002, and which shall accrue quarterly dividends, until vested, in the same amount per share as dividends actually paid on Duke Energy common stock. The Awards shall only track the performance of Duke Energy common stock and shall not entitle Contractor to any of the voting rights of a shareholder of Duke Energy. If Parent Company shall commence an initial public offering of its common stock while the Awards are outstanding, the Awards shall be automatically exchanged for a stock option and restricted stock of the new public company (in the same proportion and with the same vesting as originally granted) that provides Contractor with the economic equivalent in the new public company's common equity.
Amendment to Consulting Agreement. The Board of Directors and --------------------------------- Compensation Committee of the Company have discussed the valuable contribution Consultant has provided to the Company and have ratified an amendment to the Consulting Agreement which extends its terms on a month-to-month basis, terminable by either party on sixty (60) days prior written notice, at a fee of $1,000 per month.
Amendment to Consulting Agreement. (a) Paragraph 4 of the Consulting Agreement is hereby amended and restated in its entirety to read as follows:
Amendment to Consulting Agreement. The Company shall not have executed any additional amendments or side letters, or entered into any oral agreements or understandings, relating to the Consulting Agreement entered into between the Company and Altitude Group, LLC on the 11th day of February, 2004, as amended on March 23, 2004 and April 1, 2004, which latest amendment stated that at Closing, The Altitude Group, LLC shall (i) be paid a cash commission equal to 10% of the gross proceeds received by the Company and (ii) be issued such number of shares of Common Stock equal to 5% of the shares of the Company's Common Stock issued and outstanding immediately before the Closing, calculated on an as-converted, fully-diluted basis.
Amendment to Consulting Agreement. The parties agree that the Consulting Agreement shall be amended as follows:
(a) The text of “Section 3 Compensation” shall be amended to delete the stricken text and add the underlined text as follows: ▇▇▇▇▇ shall be paid at the rate of $70,000 $80,000 per year for his Consulting Services plus expenses. ▇▇▇▇▇ shall be paid at such times as ▇▇▇▇▇ and the Corporation shall agree, but at least monthly. In addition ▇▇▇▇▇ shall be provided with an automobile of his choosing which shall be comparable to the vehicle that has been customarily used by ▇▇▇▇▇ and shall be provided with health insurance at the expense of the Corporation.