Consulting Fee and Benefits. The Company shall pay to Consultant for the Services an annual amount equal to the sum of:
Consulting Fee and Benefits a. As compensation for the Executive's consulting and advisory services during the Consulting Period, the Company shall pay the Executive as follows:
(i) for each of the first four (4) years of the Consulting Period, an annual consulting fee equal to two-thirds of the Executive's Final Base Compensation, which shall be defined as the lesser of (A) the Executive's highest annual cash compensation (consisting of base salary and annual bonus) during the last three years of his employment with the Company or (B) $2 million;
(ii) for each of the final two (2) years of the Consulting Period, an annual consulting fee equal to one-third of the Final Base Compensation; and
(iii) such consulting fee shall be paid in equal installments in accordance with the normal payroll practices of the Company, but not less frequently than monthly, except that compensation for the first six months of the Consulting Period shall be paid in a lump sum six months and one day following the Effective Date.
b. The Executive shall be entitled to reimbursement for reasonable business and travel expenses incurred in the performance of his duties in accordance with the Company's normal reimbursement practices. To the extent that any right to reimbursement of expenses under this Agreement constitutes nonqualified deferred compensation (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code")), such expense reimbursement shall be made by the Company no later than the last day of the taxable year following the taxable year in which such expense was incurred by the Executive.
c. For each calendar year during the Consulting Period, the Company shall pay the Executive an amount equal to the Executive's cost of obtaining private health insurance coverage having terms, substantially equivalent to the health coverage provided to executive officers of the Company as in effect from time to time during the Consulting Period. Such amounts shall be made on or after January 1 of each calendar year of the Consulting Period, but in no event later than December 31 of each calendar year of the Consulting Period.
Consulting Fee and Benefits. If Employee signs this Agreement, and, on or after the Date of Separation also signs a Consulting Agreement in substantially the form attached hereto as Exhibit 1, and Employee signs and does not revoke the supplemental release in accordance with Paragraph 14(b), Employer agrees to the following:
(a) Employer will retain Employee as a consultant pursuant to the terms of the Consulting Agreement;
(b) No later than the earlier of (i) the date Employer makes payments to employees under its Bonus Plan or (ii) March 15, 2018, Employer will pay Employee the gross amount of $235,290.50, as a discretionary bonus for the 2017 performance year; and
(c) Employer shall waive repayment from Employee any unamortized portion, as of the Date of Separation, of the Employer-paid Initiation Fee for Waialae Country Club; and Employee agrees that Employee has no entitlement to the foregoing benefits except in return for entering into this Agreement, not revoking this Agreement, and entering into a Consulting Agreement in substantially the form attached hereto as Exhibit 1. Employee will continue to be eligible for any earned award under the First Hawaiian, Inc. Long-Term Incentive Plan (“Plan”) for the 2015-2017 cycle ended December 31, 2017, as determined in accordance with Plan provisions.
Consulting Fee and Benefits a. As compensation for Aivalis’ consulting and advisory services during the Consulting Term, the Company shall pay the Consultant at the rate of $12,500 per month by the 10th day of each month during the Consulting Term. Consultant shall be responsible for all income tax withholding, FICA and Medicare payments due Consultant and Aivalis, it being understood that in providing such services Consultant and Aivalis shall be acting as an independent contractor and not as an employee or agent of the Company.
b. Consultant shall be entitled to reimbursement for reasonable business and travel expenses incurred by Aivalis in the performance of his duties in accordance with the Company’s normal reimbursement practices. c. During the Consulting Term, Consultant shall have the option of continuing participation of Aivalis in the Company’s health insurance plan benefits as in effect from time to time during the Consulting Period. The Company shall pay a portion of the costs thereof which shall be considered as additional compensation hereunder.
Consulting Fee and Benefits. 3.1 In consideration of the consulting services rendered by Consultant hereunder, the Company shall pay to Consultant an annual consulting fee (the "Consulting Fee") equal to Euro 100,000. Monthly advances may be agreed upon between the parties. Payment of the Consulting Fee may be effected by the Company and/or by the various affiliated companies to which services shall be rendered by the Consultant.
3.2 The Consultant shall be solely responsible for his good legal standing, social security status and tax status under the laws of applicable jurisdictions. The Consultant acknowledges that the Company shall be paying the Consulting Fees gross of any withholding and the Consultant agrees to indemnify the Company for any liability or loss incurred by the Company in connection with its payment of the Consulting Fee in this manner.
Consulting Fee and Benefits. In consideration for and subject to you rendering the Consulting Services during the Consulting Period, the Company will pay and provide you with the following compensation and benefits (collectively, the “Consulting Fee and Benefits”):
Consulting Fee and Benefits. (1) In consideration for Buzogany’s Consulting Services under this Agreement, the Company will pay Buzogany a consulting fee of $27,250 per month paid on the first day of the first month following the Effective Date and ending upon the termination of the Consulting Period. This monthly consulting fee assumes that Buzogany dedicates his work efforts on a full-time basis to the Company, consistent with past practices. To the extent that Buzogany dedicates his work efforts on less than a full-time basis, Buzogany and the Company agree to mutually determine a reasonable pro rata monthly fee amount to account for such less-than full-time schedule. As an independent contractor, Buzogany acknowledges and agrees that he is responsible for all withholding taxes, insurance, and compliance reporting to Government Agencies for compensation paid to Buzogany.
(2) Buzogany agrees to use best efforts to spend any amounts PSI paid for airline tickets or credits that remain unused prior to the Effective Date toward performing work for the Consultancy. The Company will reimburse Buzogany for reasonable expenses incurred by him in the course of performing his duties and responsibilities during the Consulting Period, consistent with the Company policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s reasonable requirements, including submission of an expense report on a monthly basis, with respect to reporting and documentation of such expenses.
(3) The Company will make office space available for Buzogany to work on-site at PSI as necessary during the Consulting Period, along with necessary administrative support services, business systems, telephone use, email and other accommodations.
Consulting Fee and Benefits. (1) In consideration for Xxxxx’x Consulting Services under this Agreement, the Company will pay Xxxxx a consulting fee of $25,000 paid every thirty (30) days during the Consulting Period. During the Consulting Period, Xxxxx agrees to make himself reasonably available to provide the Consulting Services to the Company on a full-time basis. To the extent that Xxxxx fails to make himself reasonably available to provide the Consulting Services on a full-time basis, Xxxxx and the Company agree to mutually determine a reasonable pro rata monthly fee amount to account for such less-than full-time schedule.
(2) The Company will reimburse Xxxxx for reasonable expenses incurred by him in the course of performing his duties and responsibilities during the Consulting Period, consistent with the Company’s generally applicable policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s reasonable requirements, including submission of an expense report on a monthly basis, with respect to reporting and documentation of such expenses.
(3) The Company will make office space available for Xxxxx to work on-site at PSI as necessary during the Consulting Period, along with necessary administrative support services, business systems, telephone use, email and other accommodations.
Consulting Fee and Benefits a. As compensation for the Executive's consulting and advisory services during the Consulting Period, the Company shall pay the Executive as follows: (i) for each of the first four (4) years of the Consulting Period, an annual consulting fee equal to two-thirds of the Executive's Final Base Compensation, which shall be defined as the lesser of (i) the Executive's highest annual cash compensation (consisting of base salary and annual bonus) for the three-year period from 2005 to 2007 or (ii) $2 million; (ii) for each of the final two (2) years of the Consulting Period, an annual consulting fee equal to one-third of the Final Base Compensation; and (iii) such consulting fee shall be paid in equal installments in accordance with the normal payroll practices of the Company, not less frequently than monthly, except that compensation for the first six months of the Consulting Period shall be paid in a lump sum six months and one day following the Effective Date.
b. The Executive shall be entitled to reimbursement for reasonable business and travel expenses incurred in the performance of his duties in accordance with the Company's normal reimbursement practices.
c. For each calendar year during the Consulting Period, the Company shall pay the Executive an amount equal to the Executive's cost of obtaining private health insurance coverage having terms, substantially equivalent to the health coverage provided to executive officers of the Company as in effect from time to time during the Consulting Period. Such amounts shall be made on or after January 1 of each calendar year of the Consulting Period, but in no event later than December 31 of each calendar year of the Consulting Period. 5.
Consulting Fee and Benefits. In consideration of Services provided under this Agreement, during the Consulting Period (as defined below), subject to applicable withholding for taxes, LXL shall issue to Consultant the Consulting Vested RSUs and if any, the Additional Consulting Vested RSUs based on the Daily Rate (as defined in the Separation Agreement) as provided in Section 1.4.2.2 of the Separation Agreement. Other than as provided herein, no other compensation will be provided to Consultant, and the Consultant shall not be entitled to any other compensation, whatsoever hereunder.
