Compensation to Advisor. The Corporation shall pay the Advisor for its services hereunder the greater of i) two percent (2%) of Corporation's consolidated gross revenues calculated according to generally accepted accounting principles, or ii) the actual expenses incurred by Advisor as outlined in Paragraph 12 herein. Advisor's compensation shall be payable in monthly installments on the last day of each month, adjusted annually upon completion of audit.
Compensation to Advisor a. The Corporation shall pay the Advisor for its services hereunder an annual base management fee of $2,000,000 (the “Base Fee”), payable in monthly installments of $166,666.66 on the last day of each month.
b. In addition to the Base Fee, the Advisor will be paid additional performance based compensation (the “Incentive Fee”) . The Incentive Fee will be calculated by increasing the Base Fee by a factor of 1.4 times the percentage increase in fully diluted Funds From Operations Per Share for the then current year over fully diluted Funds From Operations Per Share of $2.00 (the “Adjusted Base Fee”). The Incentive Fee shall be the difference in the Base Fee and the Adjusted Base Fee. Provided further, however, in no event shall the total Advisor’s compensation, as so calculated, cause the percentage of i) total expenses excluding interest, depreciation, amortization, and loss reserves to ii) net revenues for the current period to exceed 6.0% of NHI’s net revenues.
c. As used in this Section 10, “Funds from Operations” means the consolidated net income of the Corporation computed in accordance with generally accepted accounting principles, plus depreciation and amortization, less the amount of any gains or plus the amount of any losses derived from the sale of previously written—down assets or write—down of existing assets to the extent that either such gains or losses are included in such net income. Funds from operations for calculation in 10 c. shall exclude the amount of Advisor’s compensation.
Compensation to Advisor. As compensation for providing the services, the Company agrees to issue to Advisor a convertible note in the amount of Fifty Thousand Dollars ($50,000.00) per month in the form attached hereto as Exhibit B (collectively, the ANotes@). The Company agrees and acknowledges that each of the Notes are fully earned as of their respective dates of issuance. The Company hereby agrees to furnish any documentation necessary for the Advisor to deposit the shares underlying the Notes with a FINRA-registered broker-dealer once any applicable holding period has elapsed.
Compensation to Advisor. For the consultation services described above, you agree to pay a feeof: $ for the Planning Beneficiaries listed in Exhibit A payable within 30 days of execution of this Agreement. This financial planning agreement is executed between us,effective (Date) (City/State)
Compensation to Advisor. As full compensation to the Advisor for services to be rendered to the Corporation, pursuant to the terms and conditions of the Corporation's 1999 Advisory Council Stock Option Plan (the " 1999 Plan") and this Agreement, the Corporation hereby grants to the Advisor an option ("Option") to purchase, as provided in Section 5 hereof, all or any part of a total of 10,000 shares of Stock (the "Option Shares"). The Corporation shall reimburse the Advisor for out of pocket expenses reasonably incurred by the Advisor in connection with rendering services to the Corporation hereunder, provided that any expense over $250 shall be subject to prior approval by the Corporation, and, provided further, that the Advisor shall provide reasonable documentation of all reimbursable expenses.
Compensation to Advisor for its financial coaching services varies based on the level of relationship that would best support the client and the complexity of the clients situation. The engagement will be for services described as follows:
Compensation to Advisor. (a) The Corporation shall pay the Advisor for its services hereunder annual compensation of $1,625,000, payable in monthly instalments of $135,417 on the last day of each month, adjusted as set forth in Subsection 10(d) below.
(b) The payment of such compensation to the Advisor shall be conditioned upon the Corporation's having Funds From Operations (as defined in Subsection 10(c) below) in each year equal to at least the product ("Dividend Requirement") of (i) $2.00 times (ii) the average number of shares of the Corporation outstanding on each dividend record date during such year, and upon the Corporation's paying dividends in each year at least equal to such Dividend Requirement. In the event that the lower of (i) Funds From Operations and (ii) the actual dividends paid in any year is less than the Dividend Requirement for any year, the compensation payable to the Advisor in respect of such year shall be reduced by the amount of such shortfall (the "Shortfall Amount") and the Advisor shall repay to the Corporation any portion of the Shortfall Amount previously received for such year. The Advisor shall be entitled to payment of any Shortfall Amount in any subsequent year to the extent that Funds From Operations for such subsequent year exceeds the Dividend Requirement for such subsequent year (and provided that the actual dividends paid by the Corporation in such subsequent year are at least equal to the Dividend Requirement for such year), together with interest thereon, at two percent over the prime lending rate of the Advisor's principal bank in Tennessee, compounded annually, from the time that the same would otherwise have been payable to the Advisor or, as the case may be, was repaid by the Advisor to the Corporation.
(c) As used in this Section 10, "Funds From Operations" means the consolidated net income of the Corporation computed in accordance with generally accepted accounting principles, plus depreciation and amortization, less the amount of any capital gains or plus the amount of any capital losses included in such net income, and before applying the provisions of subsection 10(b) above.
Compensation to Advisor. In consideration for the Services performed and to be performed by the Advisor for the Company, the Company shall pay to the Advisor a one time fee of $6,000 to offset expenses related to the fulfillment of this agreement and a fee equal to a total of 600,000 warrants to purchase 600,000 shares of the Company’s common stock at an exercise price of $0.25 per share exercisable until July 25, 2016, payable by the vesting of 120,000 warrants on the last day of each month for Services provided during such month, commencing on July 25, 2011.
Compensation to Advisor. As compensation for providing the services, the Company agrees to issue to Advisor One Million Two Hundred Thousand (1,200,000) shares of common stock of the Company (the “Shares”). The Company agrees and acknowledges that the Shares are fully earned as of the Effective Date of this Agreement in consideration of Advisor’s execution of this Agreement and concomitant acceptance of his duties as set forth in this Agreement, the full execution of which will limit the advisor’s ability to engage in other potential advisory relationships with other parties. The Company hereby agrees to furnish any documentation necessary for the Advisor to deposit the shares underlying the Shares with a FINRA registered broker/dealer once any applicable holding period has elapsed.
Compensation to Advisor
