ELITE’S COMPENSATION Sample Clauses

ELITE’S COMPENSATION a) Until such time as the Company becomes listed on a major U.S. exchange, be it Nasdaq or the American Stock Exchange, Elite will be entitled to receive a monthly retainer fee of $7,500, payable in cash with the first payment due upon execution of this Agreement and subsequent payments due every month thereafter. Upon the Company becoming listed on a major U.S. exchange, be it Nasdaq or the American Stock Exchange, the monthly retainer fee shall increase to $10,000, payable in cash. b) ELITE would also be entitled to receive a warrant to purchase up to 125,000 common shares of the Company’s common stock, exercisable as follows: i) 62,500 shares exercisable at $5.10 per share; and ii) 62,500 shares exercisable at $6.80 per share. The warrants shall vest as follows: — 5,000 shares per month for the first six months of the Agreement; — 10,000 shares per month for months seven through eleven of the Agreement; and — 45,000 shares on the first day of the 12th month of representation under this Agreement. c) The Company shall agree to issue ELITE piggyback registration rights for the common shares underlying the warrants listed above, whereby these shares will be registered for resale by ELITE on the first applicable new Registration Statement filed by the Company with the U.S. Securities & Exchange Commission; said underlying common shares shall be held by the Company until such time as ELITE elects to exercise its warrants to purchase the common shares. The term of the warrants shall expire at the later of: (1) 36 months from the day of grant; (2) 6 months after the underlying shares are effective. In the event the Company elects early termination of this Agreement, pursuant to Section 2 herein, then any warrants that have not yet reached their vesting date will be deemed null and void.
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ELITE’S COMPENSATION a) $4,000 cash, payable per month with the first payment of $4,000 due immediately following execution of this Agreement and subsequent monthly payments due and payable at the end of each month of representation. The Company agrees to make all monthly payments on the applicable due date and in no event beyond five (5) days past the due date. For every five (5) days past the applicable payment due date, the Company shall be assessed a late fee equal to 1% of the outstanding amount until the payment is received by ELITE.
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ELITE’S COMPENSATION a) Upon execution of this Agreement, the Company will pay ELITE $21,000.00 in cash in consideration of services provided pursuant to this Agreement for July 16, 2007 - September 15, 2007.
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ELITE’S COMPENSATION a) Elite will be entitled to receive a monthly retainer fee of $7,000, payable in cash with the first payment due upon execution of this Agreement and subsequent payments due every month thereafter for the term of the Agreement. b) In addition, Elite will be entitled to receive a value of $3,000 per month, payable in cash or restricted shares of the Company’s common stock, payable quarterly with the first payment due 90 days following execution of this Agreement and subsequent quarterly issuances due every 90 days thereafter for the term of the Agreement. The price basis for each quarterly issuance of restricted shares shall be based on the closing price of the Company’s common stock on March 1, 2006, June 1, 2006 and September 1, 2006, December 1, 2006. In order to remove doubt, the Company shall have the sole discretion to decide whether to pay Elite in cash or in restricted shares of its common stock. c) ELITE would also be entitled to receive a warrant to purchase up to 100,000 common shares of the Company’s common stock, exercisable as follows: i) 25,000 at $4.00 per share; ii) 25,000 at $4.50 per share; iii) 25,000 at $5.00 per share; and iv) 25,000 at $5.50 per share. - The warrants shall vest at a rate of 4,000 warrants each month (1,000 of each category) for 25 consecutive months. - Issuance of the warrants shall be subject to the provisions of Section 4.14 of the September 28, 2005 Securities Purchase Agreement by and between the Company and certain investors. d) The Company shall agree to issue ELITE piggyback registration rights for the common shares underlying the warrants listed above, whereby these shares will be registered for resale by ELITE on the first applicable Registration Statement filed by the Company with the U.S. Securities & Exchange Commission; said underlying common shares shall be held by the Company until such time as ELITE elects to exercise its warrants to purchase the common shares. The term of the warrants shall expire at the later of: (1) 36 months from the day of grant; (2) 6 months after the underlying shares are effective. In the event the Company elects early termination of this Agreement, pursuant to Section 2 herein, then any warrants that have not yet reached their vesting date will be deemed null and void.
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ELITE’S COMPENSATION. 4.1 $5,000 cash per month, with the first payment immediately following the execution of this Agreement and subsequent payments due every 30 days thereafter during the Term of this Agreement.
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Related to ELITE’S COMPENSATION

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows: A. If the scope of the Project or site is changed, the Board and the PA/E shall negotiate a reasonable fee based upon the probable estimated construction cost in changing the scope of the work and the approximate percentage of the estimated construction cost which was used to negotiate this Agreement if, and, as such may be applicable. B. If the DOE or Board requires the PA/E to make major or costly changes to the Schematic, Preliminary or Construction Document Phase submittals, which changes are not caused by architectural or engineering error or oversight, the PA/E shall be paid to redesign for additional expenses in an amount agreed to by the parties. Under no circumstances will the principals of the PA/E and the principals of his consultants be paid a fee in excess of $125 per hour.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Employees' Compensation The Consultant shall be solely responsible for the following:

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.