Commencing on May 1, 2015 (the "Effective Date") and during the Term, as defined below, Employee will serve the Company and perform such executive duties for the Company as are required and consistent with the title of and bear all duties and responsibilities of CEO of the Company. Employee shall report to the Board of Directors of the Company (the “Board”) and shall be subject to the direction of the Board.
Commencing upon the execution of this Agreement, the Escrow Agent shall act as escrow agent and agrees to receive, hold, deal with and disburse the proceeds from the sale ("Proceeds") of Units and any other property at any time held by the Escrow Agent hereunder in accordance with this Agreement. The Managing Owner agrees to notify the Escrow Agent promptly (a) if the proposed offering of Units is extended by the Managing Owner as provided in the Trust's Prospectus dated ___________, 1996 (the "Prospectus") and (b) of the date of the Initial Closing Date (hereinafter defined) and each subsequent closing date.
Commencing on January 1, 2004 (the "Effective Date") and continuing during the Additional Premises Term, Tenant shall pay Minimum Annual Rent for the Additional Premises, at the times and in the manner provided in the Lease, in the amount of $39,075.00 in monthly installments of $3,256.25.
Commencing. July 1, 1995 and continuing for the remainder of the term of the Consulting Agreement, Barnes shall be paid a supplemental monthly fee of $944.44 in addition to his annual fee of $60,000 (payable in monthly installments of $5,000). Payments shall be made on or about the first day of the month.