Common use of Advisory Agreements Clause in Contracts

Advisory Agreements. Promptly and diligently following the Closing, the Company shall negotiate (i) with Telematica the terms and conditions of a definitive agreement providing for an experienced and skilled person designated by Telematica to act as the Company's advisor with respect to strategic planning, and (ii) with TCW the terms and conditions of a definitive agreement providing for an experienced and skilled person designated by TCW to act as the Company's advisor with respect to technical matters, in each case providing for a term continuing until a Qualified Disposition occurs or until the third anniversary of a Qualified Public Offering (or, if earlier, until the fifth anniversary of the Closing Date), and in the case of Telematica, providing for annual compensation not greater than $135,000 and, in the case of TCW, annual compensation commensurate with the advisor's scope of work.