Common use of Consultant After Termination Clause in Contracts

Consultant After Termination. In the event Executive’s employment is terminated pursuant to subparagraphs 7.1, 7.4 or 7.7, Executive agrees to act as a consultant for Company, if requested to do so by Company. Executive will be paid a fixed monthly fee equal to 25 percent of Executive’s monthly base salary in effect at the time of termination for up to six (6) months following the termination of the employment relationship (“Consultant Payments”). Consultant Payments shall be made in arrears on or before the last business day of each month during which Executive has acted as a consultant. Company may elect, in its sole and absolute discretion, to terminate the Consultant Payments at any time upon 10 days’ advance written notice to Executive.