Payment of Retainer. Atrix will provide written notice to Geneva of the date on which the research and development will commence on each Product (the "R&D Start Date"). Geneva will pay to Atrix the Retainer for each Product within fifteen (15) days of the R&D Start Date. On a monthly basis, Atrix shall offset against the Retainer for each Product, Geneva's proportionate share of the research and development expenses incurred by Atrix in that month for each such Product. Upon notice by Atrix to Geneva that Atrix has exhausted a Retainer, Geneva shall promptly remit to Atrix the sum of [**] to be applied against the on-going research and development expenses incurred or to be incurred by Atrix with respect to each such Product. Such additional payment(s) shall be paid by Geneva to Atrix within ten (10) calendar days after notice by Atrix to Geneva.
Payment of Retainer. Upon execution of this Letter of Intent, Client shall pay Xx. Xxxxxxxx a non-refundable retainer fee of $36,000 to be paid in shares of registered S-8 stock of Client (the “Stock”) calculated at the market value of such Stock at the time the shares are issued and deposited into a broker account designated by and in the name of Xx. Xxxxxxxx. Such Stock shall be registered with the United States Securities and Exchange Commission (“SEC”) and any applicable state securities regulatory authorities pursuant to an effective registration statement on Form S-8 or other available form for registration of securities. Such Stock shall be duly authorized, fully paid and non-assessable, shall possess or contain no restrictive legend, and not subject to any restrictions on sale, transfer or other disposition.
Payment of Retainer. Certain matters, particularly those involving a high demand of KHA’s resources, may require a retainer amount. Such retainer is required to secure KHA’s availability for such matter. Such retainer amount shall be stated in the Engagement letter or a Writing. This retainer will be credited against KHA’s fees, costs and expenses as previously described. If Client terminates its relationship with KHA prior to the completion of the matter for which a retainer is charged, Client agrees that, in addition to fees and expenses accrued as of the termination date, one-half of such retainer was earned on receipt by KHA for KHA’s reasonable administrative and professional services provided and KHA’s foregone opportunities as a result of business KHA did not take in reliance on the commitment of Client.
Payment of Retainer. (i) Subject to Section 3.2(a)(ii), Section 3.2(b) and Article IV of this Plan, the Retainer established by the Administrator from time to time shall be payable in part as Required Retainer Shares payable on January 1 of the following year, and the balance of such Retainer and all other Fees shall be payable in cash quarterly in advance of each Accounting Period.
(ii) If a Director meets the Director Share Ownership Guidelines on December 1 of 2004 or any year thereafter, such Director may elect, by the filing of a Participation Agreement or such other form as may be approved by the Administrator by March 29, 2004 or by December 15 of such year, as applicable, to have up to 100% of such Director's Retainer paid by the Company in cash. Such election shall apply to the Director's Retainer for the Plan Year commencing January 1, 2004 or the Plan Year following such election, as applicable.
