Conversion to Consulting Agreement Sample Clauses

Conversion to Consulting Agreement. During the 120-day period following the occurrence of an Extraordinary Event, the Executive shall have the right, in his sole discretion, to elect in writing to convert this Agreement into a consulting agreement, whereupon: (i) the Executive will cease to be an employee of the Company and shall resign all officer and other positions with the Company and its subsidiaries; (ii) the Executive shall be required, through the Expiration Date, to consult with respect to the assets, liabilities and transactions of the Company as they existed immediately before such Extraordinary Event, such consultation to be at the reasonable times convenient to the Executive on no less than five business days' notice, but in no event for more than five days or portions of a day in any calendar month, the parties recognizing that the Executive during the consulting period likely will have significant other business interests; and (iii) the terms of this Agreement (including all rights of the Executive hereunder as to salary, bonus, reimbursements, payments and health and other benefits) shall continue unabridged through the Expiration Date, except that (1) Section 2 hereof will be superseded by this Section 4(c) and (2) references herein to the "employment" of the Executive shall be deemed to be references to the consultancy by the Executive.
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Conversion to Consulting Agreement. The Executive may select to become a consultant to the Company rather than be an employee. The Executive must provide the Company with a 60 day notice after which the Executive will become a consultant to the Company for the remaining term as stated in Item 7 of this Agreement. The Executive will report to the then C.E.O. and will perform agreed upon services on a part-time basis (not to exceed 40 hours per month). The compensation paid will be Ten thousand dollars ($10,000) per month plus all expenses incurred on behalf of the Company. Any required travel in excess of three and one half hours will be business class.
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Conversion to Consulting Agreement. The Executive may select to become a consultant to the Company rather than be an employee. The Executive must provide the Company with a 60 day notice after which the Executive will become a consultant to the Company for the remaining term as stated in Item 7 of this Agreement The Executive will report to the then C.E.O. and will perform agreed upon services on a part-time basis (not to exceed 40 hours per month). The compensation paid on the first of the each and every month thereafter until June 1, 2017 will be ten thousand dollars. The Company will also pay to Executive all expenses incurred on behalf of the Company after receipt and approval of an expense report submitted by Executive. Any required travel in excess of three and one half hours will be business class.
Sample 1
Conversion to Consulting Agreement. If at any point after the Initial Meeting (as defined below) Employee is not satisfied with his duties and responsibilities, Employee shall be entitled, in his sole and absolute discretion, to terminate his employment with Employer and to convert this Agreement to a consulting agreement (the “Conversion”) pursuant to which he shall provide consulting services to Employer for the balance of the Term, by giving written notice to Employer stating his desire to terminate his employment and convert the Agreement in accordance with the provisions of this Sub-Paragraph 4(d) (the “Notice of Conversion”), and such Conversion shall take effect on the date Employer receives the Notice of Conversion (the “Date of Conversion”). The parties’ obligations under Paragraph 2 (other than the Employer’s obligations under Sub-Paragraph 2(b)) of this Agreement shall not in any way be diminished, but rather shall remain in full force and effect after the Date of Conversion, and Employee shall remain subject to the provisions of Paragraph 9 of the Agreement. Employer and Employee shall use their reasonable efforts to agree to the terms and scope of Employee’s consulting services and to amend this Agreement accordingly to reflect the Conversion within thirty (30) days following the Date of Conversion; provided, however, the following Paragraphs of the Agreement shall terminate and no longer be of any force or effect as of 12:01 a.m., Dallas time, on the Date of Conversion: 3(a), 3(b), 3(c), 3(d), 4(c)(i) and (vi), and 5.
Sample 1
Conversion to Consulting Agreement 
Sample 1

Related to Conversion to Consulting Agreement

  • Termination of Consulting Agreement As of the Effective Date, the Consulting Agreement is hereby terminated and is of no further force or effect.

  • Consulting Agreement THIS CONSULTING AGREEMENT entered into as of this 26th day of January, 2004 between DIAMOND DISCOVERIES INTERNATIONAL CORP., a Delaware corporation (the "Company") and Xxxxx Xxxxxxxx ("Consultant").

  • Termination of Merger Agreement Notwithstanding anything to the contrary contained herein, in the event that the Merger Agreement is terminated in accordance with its terms prior to the Closing, this Agreement and all rights and obligations of the parties hereunder shall automatically terminate and be of no further force or effect.

  • Consulting Agreements The Corporation has entered into consulting agreements with the following parties: Party Effective Date

  • ASSIGNMENT TERMINATES THIS AGREEMENT; AMENDMENTS OF THIS AGREEMENT This Agreement shall automatically terminate, without the payment of any penalty, in the event of its assignment or in the event that the Investment Management Agreement between the Manager and the Fund shall have terminated for any reason; and this Agreement shall not be amended unless such amendment is approved at a meeting by the affirmative vote of a majority of the outstanding shares of the Fund, and by the vote, cast in person at a meeting called for the purpose of voting on such approval, of a majority of the Trustees of the Fund who are not interested persons of the Fund or of the Manager or the Portfolio Manager.

  • Amendment to Employment Agreement The Employment Agreement is hereby amended as follows:

  • Examination of the Warrant Agreement A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any such holder to submit such holder’s Warrant for inspection by the Warrant Agent.

  • Term of Agreement Termination of Agreement Amendment of Agreement a. This Agreement is effective with respect to each Fund as of the date of execution of the applicable exhibit and shall continue in effect with respect to each Fund presently set forth on an exhibit and any subsequent Funds added pursuant to an exhibit during the initial term of this Agreement for one year from the date set forth above, and thereafter for successive periods of one year if such continuance is approved at least annually by the Trustees of the Trust including a majority of the members of the Board of Trustees of the Trust who are not interested persons of the Trust and have no direct or indirect financial interest in the operation of any Distribution Plan relating to the Trust or in any related documents to such Plan ("Disinterested Trustees") in the manner required by the Rules and Regulations. If a Fund is added after the first annual approval by the Trustees as described above, this Agreement will be effective as to that Fund upon execution of the applicable exhibit and will continue in effect until the next annual approval of this Agreement by the Trustees and thereafter for successive periods of one year, subject to approval as described above.

  • of the Employment Agreement Section 4.4.3 of the Employment Agreement is hereby amended and restated in its entirety to read as follows:

  • Employment and Consulting Agreements Xxxxxxx X. Xxxx and Xxxx X. Xxxxxx shall have executed and delivered employment agreements with BRI, and Xxxxxx Xxxx shall have executed and delivered a Consulting Agreement with BRI.

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