Payment for Consulting Services. During the Consulting Period, the Consultant will be paid compensation for the performance of the covenants under this Agreement at an annual rate equal to the salary (as defined in Section 3.1 of the Employment Agreement) paid to Executive immediately prior to his termination of employment with the Company (the “Consulting Payment”), which shall be paid in equal monthly installments within ten (10) days of the end of each month of the Consulting Period or such earlier time(s) as the Company deems appropriate.
Payment for Consulting Services. Contractor shall submit itemized invoices within one working day following the last day of each calendar month, which shall be due and payable 30 days after the date of the invoice.
Payment for Consulting Services. The Company will pay Consultant each month the agreed upon fee as specified in Section 4 hereof. In addition thereto the Company, upon receipt of statement from Consultant, shall make prompt payment to Consultant such amounts as may be due for travel and other expenses as specified in Section 4 hereof.
Payment for Consulting Services. In consideration of the Consultant’s obligation to be available and to render advisory and consulting services pursuant to the provisions of paragraph 1, the Company shall pay to the Consultant compensation in the amount of $_______ per hour of such service. The Consultant shall provide the Company with reasonable written documentation of any such service on a monthly basis no later than the end of the following month, and the Company shall pay such amounts no later than 30 days after receipt of invoice.
Payment for Consulting Services. 3.1 Crossnet shall pay to Parekh a consultant fee in consideration for the provision of the Consulting Services equal to the sum of $10,000 US per month (the "Consultant Fee"), subject to adjustment for the merit and performance of Parekh, at the sole discretion of the board of directors of the Company.
3.2 The Consulting Fee shall be payable by Crossnet to Parekh on the last business day of each month during the term of this Agreement, with the first payment being due and payable on February 29, 2000.
3.3 Parekh shall deliver to Crossnet at the end of each month, a report detailing all activities and services provided to Crossnet for that month, if requested by Crossnet.
3.4 Crossnet will pay to Parekh, in addition to the Consultant Fee, the reasonable travel and promotional expenses and other specific expenses incurred by Parekh in provision of the Consulting Services, provided Parekh has obtained the prior written approval of Crossnet.
3.5 Parekh may be granted, subject to the approval of Crossnet's board of directors, incentive stock options to purchase shares of Crossnet's common stock in such amounts and at such times as the Board of Directors of Crossnet, in their absolute discretion, may from time to time determine. Such options will be in an amount and of a nature similar to those granted by Crossnet to its other directors and senior officers, with adjustment for the merit and performance of Parekh.
Payment for Consulting Services. The Company will compensate Service Provider for his consulting services at $500,000 per year, payable on a monthly basis.
Payment for Consulting Services. You shall be paid a consulting fee of One Hundred Twenty Thousand Dollars ($120,000.00) for each year of the Term (the “Consulting Fee”), in exchange for your performance of the Consulting Services. The Consulting Fee shall be paid in equal semi-monthly installments of Five Thousand Dollars ($5,000.00). No payroll or employment taxes of any kind (including, but not limited to, FICA, FUTA, federal or state personal income taxes, state disability insurance taxes, and state unemployment taxes) shall be withheld or paid with respect to the Consulting Fee. You shall file your own tax returns on the basis of your status as an independent contractor for the reporting of all income, social security, employment and other taxes due and owing on the Consulting Fee. You shall be solely responsible for, and shall pay, such taxes in accordance with applicable law, and shall indemnify the Company for such taxes, contributions or penalties which the Company may be compelled to pay.
Payment for Consulting Services. In exchange for the Executive providing the consulting services and, if applicable, serving as non-executive Chairman of the Board, the Company agrees to take the following actions during the Consulting Period:
(a) The Company will pay the Executive the amount of $83,333.33 per month, payable once a month in arrears.
(b) The Company will provide the Executive with an appropriate office located in proximity to his current office with appropriate furnishings and secretarial support. The Company will also provide the Executive with information technology (cell phone, blackberry or similar device, computer, etc.), information technology support and any other similar support necessary for the completion of the consulting services. The Company will reimburse the Executive for his actual, reasonable, out-of-pocket expenses incurred in connection with his provision of consulting services under this Agreement. The Executive shall submit accurate and complete supporting documents for reimbursement of such expenses and shall follow any Company policies relating thereto as in effect from time to time.
(c) The Executive will be entitled to use Company aircraft on Company business under the Company’s aircraft policies and will be entitled to personal use of Company aircraft based on the Company policies for personal use by senior executives as in effect from time to time; provided, however, that the Executive will be required to reimburse the Company promptly for the incremental cost to the Company of such personal use.
(d) The Company shall make available to the Executive coverage that is comparable to the coverage provided to Executive under the Company’s health care plan immediately prior to his retirement.
(e) The Executive will be entitled to receive cash incentive awards based on the Executive’s consulting services, if and to the extent that the Board of Directors determines that the Executive’s performance as a consultant merits payment of an incentive award.
(f) To the extent required to avoid any penalties on the Executive under Section 409A of the Code, payments to the Executive under this Agreement, and under any other agreement with the Executive, upon termination of employment shall be distributed on the later of (i) the dates specified in this Agreement or any other agreement, and (ii) six (6) months and one (1) day after the date of termination.
Payment for Consulting Services. As long as Lane is in compliance with the terms of this Agreement, the Company agrees to pay Lane annually beginning on January 3, 2006 and on the first business day of each January thereafter to and including January 2010, an annual consulting fee of $110,000, plus reimburse him, upon submission of receipts and other appropriate written documentation, for reasonable and necessary out-of-pocket expenses actually incurred arising out of providing the consulting services hereunder. Notwithstanding the foregoing, in the event the Company determines that, as a result of recent tax legislation and the rules and regulations related thereto, the payment of the annual consulting fee would or may be treated as a deferred payment subject to a 20% excise tax thereon, the Company shall pay to Lane on August 1, 2005 a one time consulting fee of $500,000; provided, however, if Lane shall continue to fail to provide the consulting services provided for herein after 30 days written notice (the “Notice”) from the Company of such failure, Lane shall be required to remit to the Company an amount equal to $500,000 times a fraction, the denominator of which shall be the number of days from and including August 1, 2005 to and including July 31, 2010 and the numerator of which shall be the number of days from the date on which the Notice was sent to Lane to and including July 31, 2010, adjusted, however, to subtract therefrom the net federal and state income taxes paid by Lane with respect thereto. For purposes hereof the net federal and state income tax paid shall be the actual taxes paid in respect of the prior payment to Lane of such amount less the federal and state income tax benefit allowable to Lane on account of such remittance. It is the intention of the Company and Lane that the amount he is to remit shall be net of all income tax cost and benefits. Lane shall repay such amount when owed upon demand by the Company.
Payment for Consulting Services. Client agrees to pay Consultant the Consulting Fee(s) set forth in the Statement of Work. The Consulting Fee(s) specified in the Statement of Work represents the total fees and charges for the Consulting Services and will not be increased during the term of this Agreement except pursuant to a written Amendment to the Statement of Work.
