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.
Compensation for Consulting Services. The Company shall pay to Consultant and/or assigns as instructed by Consultant for the Consulting Services rendered hereunder, the sum of 1,000,000 shares of restricted common stock of the Company (“Consultant Shares”) which shall be earned in the following manner: 1,000,000 shares will be earned by the Consultant and/or assigns in equal installments of 250,000 shares on December 1, 2007, March 1, 2008, June 1, 2008 and September 1, 2008. Said 1,000,000 shares of restricted common stock of the Company will be tendered to Consultant and/or assigns in one certificate on June 1, 2007; provided, however, that Consultant must return any unearned shares upon termination of this Agreement.
Compensation for Consulting Services. The OWNER shall pay the CONSULTANT the appropriate fee as complete compensation for all services rendered as herein agreed and as stated in the PROFESSIONAL SERVICES AGREEMENT:
Compensation for Consulting Services. As compensation for the consulting services to be performed by the Consultant hereunder, the Company shall pay the Consultant a consulting fee at the rate of $1,500,000 per annum, payable in equal monthly installments. During the Consulting Period, the Company shall provide the Consultant with an office and administrative assistance and shall reimburse the Consultant, in accordance with Section 8 hereof, for all proper expenses incurred by the Consultant in providing consulting services hereunder.
Compensation for Consulting Services. For Services hereunder, CLIENT shall pay to CONSULTANT a fee of $65 per hour. The minimum time to be billed for any one day for work performed at CONSULTANT’ s location will be ½ hour. The minimum time to be billed for any one day for work performed at CLIENT’ S location will be 1 hour.
Compensation for Consulting Services. As compensation for the Consulting Services, MergerCo, on behalf of itself and the other members of the Company Group, shall pay CD&R a fee of $1,500,000 per year (the “Consulting Fee”), one quarter of which shall be payable quarterly in advance on the first day of each January, April, July and October (each, a “Consulting Services Payment Date”). The Consulting Fee shall begin accruing immediately following the consummation of the Acquisition, and the amount of the Consulting Fee accrued prior to the next succeeding Consulting Services Payment Date shall be payable on such Consulting Services Payment Date, together with the regular installment of the Consulting Fee payable on such Consulting Services Payment Date. The Consulting Fee may be increased with the approval of a majority of the members of the Board of Directors of Investors who are not employees of Investors, CD&R or any of their respective subsidiaries and Affiliates (the “Disinterested Directors”), but may not be decreased without the prior written consent of CD&R. If an employee of CD&R or any of its subsidiaries or Affiliates is elected to serve on the Board of Directors of Investors or any of its subsidiaries (a “Designated Director”), CD&R shall cause such Designated Director to waive any and all director's fees to which he or she otherwise would be entitled for any period for which the Consulting Fee (or an installment thereof) is paid and for which such Designated Director continues to be employed by CD&R or any of its subsidiaries or Affiliates. If, on the other hand, an employee of CD&R or any of its subsidiaries or Affiliates is appointed to an executive management position (or a position of comparable responsibility) with Investors or any of its subsidiaries, whether in addition to or other than as a Designated Director, then, for the period of such employee's service in such position, the Consulting Fee shall be increased by an amount to be reasonably determined by CD&R, such amount not to exceed 100% of the Consulting Fee then in effect. For purposes of this Agreement, “Affiliate” shall mean, with respect to any person or entity, any other person or entity directly or indirectly controlling, controlled by or under common control with, such person or entity.
Compensation for Consulting Services. The Company shall pay to Consultant and/or assigns as instructed by Consultant for the Minimum Consulting Services and the Financial Public Relations portion of the Consulting Services rendered hereunder, the sum of two-million-two-hundred thousand (2,200,000) shares of restricted common stock of the Company which shall be payable in the follow manner: One-million (1,000,000) shares will be due and payable to Consultant and/or assigns immediately upon signing of this Agreement, two-hundred thousand (200,000) shares will be due and payable to Consultant and/or assigns on March 31, 2002, and the remaining one-million (1,000,000) shares will be due and payable to Consultant and/or assigns in equal installments of one-hundred thousand (100,000) shares beginning on April 30, 2002 and ending on January 31, 2003. Said two-million two-hundred thousand (2,200,000) shares of restricted common stock of the Company shall be immediately delivered to and will be held in escrow by the Honorable Xxx Xxxxxx, Attorney at Law, 0000 Xxxxxxxx, Xxxxx 000, Xxxxxxx, XX 00000 (“Escrow Agent”). Said amounts of common shares will be tendered to Xxx Xxxxxx in separate certificates as instructed in Exhibit “A”, attached hereto, in the amounts and in the name(s) as described in Exhibit “A”, all of which will be dated as of the date of this Agreement. An Investment letter(s), attached hereto as Exhibit B, prepared by the Company and duly executed by an authorized representative will be attached to each certificate delivered to the Escrow Agent. Xx. Xxxxxx shall deliver each certificate to Consultant on the dates and in the amounts stated in Exhibit “A”. The shares will be earned when delivered by Escrow Agent to Consultant and/or assigns. In addition, subject to paragraph 5 herein below, if Consultant provides Additional Consulting Services to the Company, it shall be compensated for such Additional Consulting Services at the rate of $1,200 for each such additional person/day. Consultant shall be required to keep records indicating service performed under Paragraph 2 and 3 hereinabove. Consultant shall submit monthly invoices to Company indicating nature and extent of said consulting services provided.
Compensation for Consulting Services. 3.1 The Company shall pay to Consultant $200 per hour for services rendered to the Company under this Agreement. Consultant shall submit monthly statements of services performed and hours worked in the previous month. Invoices are due and payable upon receipt but under no circumstances will remain unpaid beyond fourteen days of receipt by the Company.
Compensation for Consulting Services. As compensation for the Consulting Services, the Company shall, or shall cause one or more of its Affiliates to, on behalf of the Company Group (subject to the provisions of Section 3(e)), pay Manager a fee of $1,000,000 per year (together, the “Consulting Fee”), one quarter of which shall be payable quarterly in advance on the first day of each January, April, July and October (each, a “Consulting Services Payment Date”). The Consulting Fee shall begin accruing immediately following the consummation of the Acquisition, and the amount of the Consulting Fee accrued prior to the next succeeding Consulting Services Payment Date shall be payable on such Consulting Services Payment Date, together with the regular installment of the Consulting Fee payable on such Consulting Services Payment Date. The Consulting Fee may be increased if (and only if) approved by Unanimous Investor Approval in accordance with the Stockholders Agreement, but may not be decreased without the prior written consent of Manager.
Compensation for Consulting Services. As consideration for the Consulting Services:
