COMPENSATION TO XXXXXXX. A. Compensation to XXXXXXX for services described in this Agreement shall be on a Lump Sum basis, Percentage of Construction, and/or Hourly Rate basis as designated in the Letter Agreement and as hereinafter described.
COMPENSATION TO XXXXXXX. (a) Based upon his performance as a member and Chairman of the Board of Directors and as CEO, and in accordance with paragraph 4 of the CEO Agreement, SMI agrees to pay Xxxxxxx a bonus of $129,000.00, payable within ten (10) business days following Xxxxxxx'x execution of this Agreement; provided, he has not revoked his execution by that time.
COMPENSATION TO XXXXXXX. Compensation payable to Xxxxxx Xxxxxxx shall be limited to the amount set forth on Schedule 8.32 attached hereto.
COMPENSATION TO XXXXXXX. The Company shall pay to Xxxxxxx a “Consulting Fee” of 130,000 shares of the Company’s common stock. The Consulting Fee shall be deemed earned and payable upon the execution of this Agreement.
COMPENSATION TO XXXXXXX. Unless and until the Xxxxxxx Guaranty and Xxxxxxx Security are forever and unconditionally terminated, discharged and released including upon any termination of the Swap Agreement by the Company, the Company shall pay Xxxxxxx a monthly fee (the “Guaranty Fee”) equal to one twelfth (1/12) of one percent (1%) of the notional amount of the Swap calculated as of such date. The notional amount of the Swap on the date hereof is $49,250,000 and such notional amount is scheduled to be reduced in accordance with Schedule A attached hereto. The Guaranty Fee shall be paid on the 23rd day of each month (or if such day is not a business day, on the next following business day) without notice or demand beginning with the first payment on the date hereof. The Guaranty Fee for such month shall be deemed fully earned upon receipt and will not be subject to any recapture or reimbursement due to any future event or occurrence including a subsequent termination of the Swap Agreement or release of the Xxxxxxx Guaranty or Xxxxxxx Security.
