Common use of Conversion to Consulting Agreement Clause in Contracts

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.

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. 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 ten thousand dollars ($10,000) per month plus dollars. The Company will also pay to Executive all expenses incurred on behalf of the CompanyCompany 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.

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, 2011 will be Ten ten thousand dollars ($10,000) per month plus dollars. The Company will also pay to Executive all expenses incurred on behalf of the CompanyCompany 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.