Consulting Payment. In the event of the Executive’s Involuntary Termination, if (i) the Executive reconfirms and agrees to abide by the covenants described in Section 14(a) and (c) above, (ii) the Release Requirements are satisfied by the Payment Date, and (iii) the Executive agrees to provide the consulting services described in Section 14(f) below, then in consideration for such covenants and consulting services, the Company shall pay the Executive, in one (1) cash lump sum, an amount (the “Consulting Payment”) in cash equal to the sum of (X) the Executive’s Annual Base Salary as in effect on the Date of Termination, plus (Y) the greater of the Executive’s Average Annual Bonus or the Executive’s Target Bonus on the Date of Termination. If the requirements of this Section 14(e) are satisfied, the Consulting Payment shall be paid during the thirty (30) day period commencing on the earlier of (i) the expiration of the six (6) month period measured from the date of the Executive’s Separation from Service or (ii) the date of the Executive’s death.
Consulting Payment. At Closing, and in consideration for his agreement to serve CCC on a consulting basis after the Closing, Xxxx XxXxxxxx will receive from CCC, by company check, $250,000 plus options to purchase 50,000 shares of CCC Common Stock, at a purchase price equal to the fair market value of the underlying shares of CCC Common Stock on the Closing Date and exercisable immediately for 25,000 shares and exercisable with respect to the remaining 25,000 shares at the end of the one year period after the Closing Date (it being agreed that such options shall be issued in accordance with CCC's 1997 Long-Term Incentive Plan and will have the vesting provisions established by the Compensation Committee of the Board of Directors of CCC).
Consulting Payment. In the event of the Executive’s Involuntary Termination, if (i) the Executive reconfirms and agrees to abide by the covenants described in Section 14(a) and (c) above, (ii) the Release Requirements are satisfied by the Payment Date, and (iii) the Executive agrees to provide the consulting services described in Section 14(f) below, then in consideration for such covenants and consulting services, the Company shall pay the Executive, in one (1) cash lump sum, an amount (the “Consulting Payment”) in cash equal to one-half (0.5) times the sum of (X) the Executive’s Annual Base Salary as in effect on the Date of Termination, plus (Y) the greater of the Executive’s Average Annual Bonus or the Executive’s Target Bonus on the Date of Termination. If the requirements of this Section 14(e) are satisfied, the Consulting Payment shall be paid during the thirty (30) day period commencing on the earlier of (i) the expiration of the six (6) month period measured from the date of the Executive’s Separation from Service or (ii) the date of the Executive’s death.
Consulting Payment. HPB shall enter into an agreement, in a form to be agreed upon by the Parties acting reasonably, to repay the $45,000 plus HST owing to Westhampton Professional Services Inc., with such payment to occur on the Effective Date (the “Consulting Payment”).
Consulting Payment. For the consultation rendered by Executive for the period from March 22, 2005 through April 15, 2005, the Company shall provide Executive with a one-time grant of S-8 stock in a share total equal to $22,000, valued on the basis of the stock price as of April 15, 2005.
Consulting Payment. The Board of the Company has determined that in the best interest of its shareholders it will issue 225,000 restricted shares of its restricted common stock to the Board Member for his continued aforementioned Services to the Company. The restricted common stock issuances are considered appropriate additional annual compensation for active board duties. All share grants will be subject to Rule 144 and will have a six-month holding period. If the director voluntarily leaves the Board during this 6-month holding period then the share grants will be rescinded. Relevant value of these unregistered shares shall be deemed for tax and accounting purposes to be $0.08 per share, due to the illiquid nature of the common shares and the financial condition of the Company. It is understood that the Company will issue a Form 1099 for the tax year ending 2023 for the relevant value of each share allocation of $0.08 per share of common stock once the 6-month holding period has lapsed.
Consulting Payment. At Closing, and in consideration for his agreement to serve CCC on a consulting basis after the Closing, Xxxx XxXxxxxx will receive from CCC, by company check, $250,000 plus options to purchase 50,000 shares of CCC Common Stock, at a purchase price equal to the fair market value of the underlying shares of CCC Common Stock on the Closing Date and exercisable immediately for 25,000 shares and exercisable with respect to the remaining 25,000 shares at the end of the one year period after the Closing Date (it being agreed that such options shall be issued in accordance with CCC's 1997 Long-Term Incentive Plan and will have the vesting provisions established by the Compensation Committee of the Board of Directors of CCC). Prior to the Closing Date, Xxxxxxx X. Xxxxx will assume the agreement dated November 21, 1997 between Mid-Atlantic Companies and the Company, as detailed on Schedule 13.6, and thus assume full responsibility for the finders fee due to Mid-Atlantic Companies in connection with this Agreement.
Consulting Payment. The Company agrees to pay you an aggregate amount of three hundred eighty thousand dollars ($380,000) in equal monthly installments during the Consulting Period.
Consulting Payment. The Company shall pay the Executive the sum of $32,465.82 per month for the thirty consecutive months (the "Payout Period") commencing on July 15, 1998 and ending on December 15, 2000 (the "Monthly Payment"). The Monthly Payment shall be payable on the fifteenth day of each calendar month (or, if any such date is not a business day, on the next business day following such date) during the Payout Period. The Company may deduct the amounts payable by the Executive to the Company in repayment of certain loans referred to in Section 4(b) of this Agreement from the corresponding Monthly Payments.
Consulting Payment. Xxx agrees to provide consulting services to CBL from July 1, 1999, through June 30, 2000. As consideration for these services, CBL shall pay Xxx $122,500, payable in 12 equal monthly installments of $10,208, beginning on July 1, 1999, and continuing on the first day of each month thereafter through June 1, 2000, regardless of the death or disability of Xxx. Xxx shall make himself available to consult with CBL, as reasonably requested by CBL, during normal business hours during this period, provided that Xxx shall not be required to provide more than 10 hours of consulting services per month and, in any event, not more than a total of 120 hours during such 12 month period.
