Common use of Fees and Benefits Clause in Contracts

Fees and Benefits. 4.1 The Consultant shall be remunerated as follows during the Term: (a) the payment of a consulting fee of $95,000 per annum subject to annual adjustment as the Board of Directors (“Board”) in its discretion may determine, one-twelfth of which amount is payable monthly on the last day of each month; and (b) the payment of an annual bonus, if any, at the Board’s discretion based upon performance of the Consultant and the Company during the preceding fiscal year, to be determined and payable as soon as practicable after the Company’s fiscal year. 4.2 The Consultant and/or Kxxx shall be entitled to participate in the Company’s stock option plan on such terms and conditions as would be commensurate with his positions with the Company, recognizing that the terms of option grants are at the sole discretion of the Company’s Compensation Committee and Board of Directors. 4.3 The Consultant and/or Kxxx shall be entitled to participate in any and all benefit plans that the Company provides to its employees generally. 4.4 The Company shall reimburse the Consultant and Kxxx for all reasonable and documented travel, entertainment and other business expenses actually and properly incurred by it or him in relation to the Company’s business as they are incurred, subject to approval by the Lead Director of the Company in the event such expenses fall outside of budgeted amounts. 4.5 The Consultant shall, without any deduction of its fee payable hereunder, be allowed a hiatus from performing its duties hereunder for a period of four weeks during each year of its engagement hereunder at such time or times as may be selected by the Consultant and as are in accordance with the Company’s reasonable policies and operating requirements. 4.6 Kxxx shall, throughout the Term, be the employee of the Consultant and not of the Company, and the Consultant shall pay any and all taxes, unemployment insurance premiums, pension premiums or contributions and any other statutory payments or assessments of any nature or kind whatsoever that are payable by virtue of the relationship of employer and employee existing between the Consultant and Kxxx.

Fees and Benefits. 4.1 The Consultant shall be remunerated as follows during the Term: (a) the payment of a consulting fee of $95,000 170,000 per annum subject to annual adjustment as the Board of Directors (“Board”) in its discretion may determine, one-twelfth of which amount is payable monthly on the last day of each month; and (b) the payment of an annual bonus, if any, at the Board’s discretion based upon performance of the Consultant and the Company during the preceding fiscal year, to be determined and payable as soon as practicable after the Company’s fiscal year. 4.2 The Consultant and/or Kxxx Hxxx shall be entitled to participate in the Company’s stock option plan on such terms and conditions as would be commensurate with his positions with the Company, recognizing that the terms of option grants are at the sole discretion of the Company’s Compensation Committee and Board of Directors. 4.3 The Consultant and/or Kxxx Hxxx shall be entitled to participate in any and all benefit plans that the Company provides to its employees generally. 4.4 The Company shall reimburse the Consultant and Kxxx Hxxx for all reasonable and documented travel, entertainment and other business expenses actually and properly incurred by it or him in relation to the Company’s business as they are incurred, subject to approval by the Lead Director of the Company in the event such expenses fall outside of budgeted amounts. 4.5 The Consultant shall, without any deduction of its fee payable hereunder, be allowed a hiatus from performing its duties hereunder for a period of four weeks during each year of its engagement hereunder at such time or times as may be selected by the Consultant and as are in accordance with the Company’s reasonable policies and operating requirements. 4.6 Kxxx Hxxx shall, throughout the Term, be the employee of the Consultant and not of the Company, and the Consultant shall pay any and all taxes, unemployment insurance premiums, pension premiums or contributions and any other statutory payments or assessments of any nature or kind whatsoever that are payable by virtue of the relationship of employer and employee existing between the Consultant and KxxxHxxx.

Fees and Benefits. 4.1 The Consultant shall be remunerated as follows during the Term: (a) the payment of a consulting fee of $95,000 220,000 per annum subject to annual adjustment as the Board of Directors (“Board”) in its discretion may determine, one-twelfth of which amount is payable monthly on the last day of each month; and (b) the payment of an annual bonus, if any, at the Board’s discretion based upon performance of the Consultant and the Company during the preceding fiscal year, to be determined and payable as soon as practicable after the Company’s fiscal year. 4.2 The Consultant and/or Kxxx shall be entitled to participate in the Company’s stock option plan on such terms and conditions as would be commensurate with his positions with the Company, recognizing that the terms of option grants are at the sole discretion of the Company’s Compensation Committee and Board of Directors. 4.3 The Consultant and/or Kxxx shall be entitled to participate in any and all benefit plans that the Company provides to its employees generally. 4.4 The Company shall reimburse the Consultant and Kxxx for all reasonable and documented travel, entertainment and other business expenses actually and properly incurred by it or him in relation to the Company’s business as they are incurred, subject to approval by the Lead Director of the Company in the event such expenses fall outside of budgeted amounts. 4.5 The Consultant shall, without any deduction of its fee payable hereunder, be allowed a hiatus from performing its duties hereunder for a period of four weeks during each year of its engagement hereunder at such time or times as may be selected by the Consultant and as are in accordance with the Company’s reasonable policies and operating requirements. 4.6 Kxxx shall, throughout the Term, be the employee of the Consultant and not of the Company, and the Consultant shall pay any and all taxes, unemployment insurance premiums, pension premiums or contributions and any other statutory payments or assessments of any nature or kind whatsoever that are payable by virtue of the relationship of employer and employee existing between the Consultant and Kxxx.

Fees and Benefits. 4.1 The Consultant shall be remunerated as follows during the Term: (a) the payment of a consulting fee of $95,000 220,000 per annum subject to annual adjustment as the Board of Directors (“Board”) in its discretion may determine, one-twelfth of which amount is payable monthly on the last day of each month; and (b) the payment of an annual bonus, if any, at the Board’s discretion based upon performance of the Consultant and the Company during the preceding fiscal year, to be determined and payable as soon as practicable after the Company’s fiscal year. 4.2 The Consultant and/or Kxxx shall be entitled to participate in the Company’s stock option plan on such terms and conditions as would be commensurate with his positions with the Company, recognizing that the terms of option grants are at the sole discretion of the Company’s Compensation Committee and Board of Directors. 4.3 The Consultant and/or Kxxx shall be entitled to participate in any and all benefit plans that which the Company provides to its employees generally. 4.4 The Company shall reimburse the Consultant and Kxxx for all reasonable and documented travel, entertainment and other business expenses actually and properly incurred by it or him in relation to the Company’s business as they are incurred, subject to approval by the Lead Director of the Company in the event such expenses fall outside of budgeted amounts. 4.5 The Consultant shall, without any deduction of its fee payable hereunder, be allowed a hiatus from performing its duties hereunder for a period of four weeks during each year of its engagement hereunder at such time or times as may be selected by the Consultant and as are in accordance with the Company’s reasonable policies and operating requirements. 4.6 Kxxx shall, throughout the Term, be the employee of the Consultant and not of the Company, and the Consultant shall pay any and all taxes, unemployment insurance premiums, pension premiums or contributions and any other statutory payments or assessments of any nature or kind whatsoever that are payable by virtue of the relationship of employer and employee existing between the Consultant and Kxxx.