Consulting Services Payment Clause Samples
Consulting Services Payment. You agree to provide consultative services to the Company for a period of six (6) months from the Separation Date at such dates and times as mutually agreed to by you and the Board of Directors of the Company. You agree that the total consultative services shall not exceed 20 hours per week. In consideration for these services, which services shall be mutually determined, the Company agrees to pay you $300,000, to be paid as a lump sum cash payment (within three (3) business days of the Effective Date). The Company agrees to indemnify you and hold you harmless to the fullest extent permitted by law from and against any and all claims, covenants, warranties, promises, undertakings, actions, suits, causes of action, obligations, debts, accounts, attorneys’ fees, judgments, losses and liabilities, of whatsoever kind or nature, in law, equity or otherwise as set forth in Exhibit A attached hereto.
Consulting Services Payment. Federal-Mogul shall pay ▇▇▇▇▇▇▇▇▇ the total gross amount of Two Hundred Thirty-Seven Thousand Five Hundred USD ($237,500), less applicable tax withholding (the “Consulting Payment”), which will be paid in equal monthly payments over a six-month period beginning in the month on which this Separation Agreement was executed, if ▇▇▇▇▇▇▇▇▇ has not revoked this Separation Agreement as provided in paragraph 11 and has otherwise complied with the terms of this Separation Agreement. Initials Initials