Transitional Consulting Agreement. In the event the Company identifies a Chief Executive Officer for the Company and Executive’s employment hereunder is terminated, Executive agrees, at the request of the Company, to enter into a mutually acceptable consulting arrangement for a to-be-agreed-upon period of time to facilitate the transition of Executive’s role to the new Chief Executive Officer of the Company.
Transitional Consulting Agreement. On the Effective Date, MIL and XxXxxxxx shall enter into the Transitional Consulting Agreement in the form attached hereto as Exhibit D. ---------
Transitional Consulting Agreement. The parties agree that for a period of twelve (12) months from the Termination Date (the "Consulting Period"), Company will retain Employee as a consultant to provide services on an "as-needed" basis to assist in transition associated with termination of Employee's employment. For such consulting services, Company will pay Employee a fee of Twenty-Four Thousand and No/100 Dollars ($24,000.00), payable in equal monthly installments. In addition to such fee, Company will reimburse Employee for out-of-pocket expenses she incurs in the performance of her duties under this paragraph 2, subject to Company's standard reimbursement policies. During the Consulting Period, Employee will not be entitled to receive, and will not receive, any benefit provided by the Company or any of its affiliates to employees except as expressly stipulated in paragraphs 1.2 and 1.3 of this Agreement. Additionally, the Company will not be responsible for deducting or withholding any taxes or other assessments from any monies paid to Employee as a consultant under this paragraph 2. The parties acknowledge and agree that Employee is to act as a consultant and advisor to Company and not as an agent or employee in any respect. Accordingly, the Employee will have no right, authority or power to act for or on behalf of Company or its affiliates except as Company may specifically grant.
Transitional Consulting Agreement. The parties agree that for a period of up to twenty-four (24) months from the Termination Date (the "Consulting Period"), Company will retain Employee as a consultant to provide services on an "as-needed" basis to assist in transition associated with termination of Employee's employment. For such consulting services, Company will pay a fee of Twenty-Four Thousand and No/100 Dollars ($24,000.00), payable over the first twelve (12) months of the Consulting Period in equal amounts in accordance with the Company's standard payroll practices. Employee acknowledges and agrees that even though the fees under this paragraph 1.4 will be fully paid one year from the Termination Date, Employee's consulting responsibilities will continue for two (2) years. During the Consulting Period, Employee will not be entitled to receive, and will not receive, any benefit provided by the Company or any of its affiliates to employees except as expressly stipulated in paragraphs 1.2 and 1.3 of this Agreement. The Company hereby acknowledges that Employee may have other commitments during the Consulting Period, including but not limited to full-time employment. Accordingly, the performance of duties under this paragraph 1.4 will not be inconsistent with Employee's ability to be employed on a full-time basis elsewhere. In other words, the Company will not require a prescribed minimum
