Common use of Consulting Payment Clause in Contracts

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. 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 41 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).