Consultation Payments Sample Clauses
Consultation Payments. In the event Employee retires from employment on Employee's Retirement Date, Employee shall be paid by Employer the sum of One Thousand Three Hundred Two and 08/100 Dollars ($1,302.08) per month, beginning not later than two (2) months after Employee's Retirement Date, for a period of ten (10) years following Employee's Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee's Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee's Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation. For and in consideration of said monthly Consultation Payments to Employee, Employee will provide support, sponsorship, advisory and Consultation Services as an independent contractor to Employer, as and when Employer may request, which services may be provided with respect to all phases of Employer's business and particularly those phases in which Employee has particular expertise and knowledge. Employee's services shall be limited to those of an independent consultant, shall not be on a day-to-day regularly scheduled operational basis and shall be provided only when Employee is reasonably available and willing. Employer shall make available to Employee such office space and equipment as are reasonably necessary for Employee to carry out the obligations under this Agreement and shall reimburse Employee for any extraordinary expenses incurred in carrying out the obligations hereunder. Effective as of Employee's Retirement Date, Employee and Employer agree that Employee shall be, under the terms of this Agreement, an independent contractor, and Employee agrees that his rights and privileges and his obligations are as provided in this Agreement as to matters covered herein. If Employee should die during said ten (10) year period, payments under this Paragraph shall terminate. Future payments, if any, to Employee's designated beneficiary or Employee's Estate shall be made in accordance with the provisions of Paragraph 5 of this Agreement.
Consultation Payments. Following Executive’s separation from service with Company on or after his Vesting Date (as defined in Section 7), Company shall pay to Executive the sum of NINE THOUSAND EIGHT HUNDRED SEVENTY-TWO and 17/100 Dollars ($9,872.17) per month, beginning six months and one week after Executive’s date of separation for a period of ten (10) years, or until Executive’s death, whichever first occurs (“Consultation Payments”). If Executive should die during the ten-year period during which Consultation Payments are being made under this Paragraph 2, then those payments shall terminate. The monthly Consultation Payments shall be paid for and in consideration of Executive’s support, sponsorship, advisory and other services provided to Company (“Consultation Services”), such sum to be payable to Executive whether or not Executive’s Consultation Services are utilized in said month by Company. Except as set forth below, Consultation Payments hereunder shall be payable each month without deductions and Executive agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation. For and in consideration of said monthly Consultation Payments to Executive, Executive will provide Consultation Services as an independent contractor to Company, as and when Company may request, which services may be provided with respect to all phases of Company’s business and particularly those phases in which Executive has particular expertise and knowledge. Executive’s services shall be limited to those of an independent contractor, shall not be on a day-to-day regularly scheduled operational basis and shall be provided only when Executive is reasonably available and willing, which willingness will not be unreasonably withheld. Effective as of Executive’s date of separation, Executive and Company agree that Executive shall be, under the terms of this Agreement, an independent contractor, and Executive agrees that Executive’s rights and privileges and obligations are only as provided in this Agreement as to matters covered herein. Notwithstanding the foregoing, if Company determines that the Consultation Payments are compensation for other than payments for Consultation Services, and such payments shall be subject to any and all applicable withholding, Social Security, employment, income and other taxes or assessments, if any, under applicable tax law...
Consultation Payments. In the event Employee retires from employment on Employee’s Retirement Date, Employee shall be paid by Employer the sum of Five Thousand Five Hundred Thirty-Eight and 67/100 Dollars ($5,538.67) per month, beginning not later than two (2) months after Employee’s Retirement Date, for a period of ten (10) years following Employee’s Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee’s Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee’s Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation.”
Consultation Payments. In the event Employee retires from employment on Employee's Retirement Date, Employee shall be paid by Employer the sum of One Thousand Three Hundred Ninety-Five and 78/100 Dollars ($1,395.78) per month, beginning not later than two (2) months after Employee's Retirement Date, for a period of ten (10) years following Employee's Retirement Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of Employee's Consultation Services, as provided herein; such sum to be payable to Employee whether or not Employee's Consultation Services have been utilized by Employer. Consultation Payments hereunder shall be payable each month without deductions and Employee agrees to be solely responsible for the payment of all income and other taxes out of said funds and all Social Security, self-employment and any other taxes or assessments, if any, applicable on said compensation."
3. The first paragraph of Paragraph 4 of the Agreement hereby is deleted in its entirety and the following replacement first paragraph of Paragraph 4 is inserted in lieu thereof:
Consultation Payments. In the event Employee retires from employment on Employee's Retirement Date, Employee shall be paid by Employer the sum of Four Hundred Fifty-Four and
Consultation Payments. ▇▇▇▇▇▇▇▇▇ shall be paid by Bank the sum of One Thousand One Hundred Ninety-Four and 58/100 ($1,194.58) per month, beginning the first calendar month following the calendar month of the Effective Date, for a period of ten (10) consecutive years following the Effective Date or until death, whichever first occurs. Such monthly payments shall be paid for and in consideration of
Consultation Payments. For the Consultation Period, provided that the consulting relationship has continued, the Company shall pay Tondera a monthly consulting fee on or before the 10th day of the mo▇▇▇ ▇▇▇lowing the month for which services were rendered in the amount of Fourteen Thousand Four Hundred Twenty Five and No/100 Dollars ($14,425.00). The Company agrees that it will reimburse Tondera for reasonable expenses that he incurs as a result of provid▇▇▇ ▇▇▇sulting services to the Company, such as travel expenses, provided that Tondera obtains the Company's advance approval before incurring such ▇▇▇▇▇▇es and provided that Tondera submits documentation to the Company verifying such expenses, ▇▇▇▇▇ding but not limited to original receipts, within forty-five (45) days of incurring the expense. The Company shall issue a Form 1099 with respect to such consultation payments, and Tondera understands and agrees that he shall be solely responsible f▇▇ ▇▇▇ payment of any taxes, which he may owe with respect to his receipt of such consultation payments. Tondera acknowledges and agrees that he has neither received nor rel▇▇▇ ▇▇▇n any advice or representations of the Company or its legal counsel concerning the taxability of the consulting payments.
Consultation Payments. During the Term of this Agreement, the Bank shall pay to Consultant the sum of TEN THOUSAND and NO/100 Dollars ($10,000.00) per month for the period of March 1, 2011 through December 31, 2011, (“Consultation Payments”). The Consultation Payments under this Agreement shall be independent of, and in addition to, those under any other plan, program or agreement which may be in effect between the parties hereto, or any other compensation payable to Consultant or Consultant’s designee by the Bank.