Common use of CONSULTING SERVICES & COMPENSATION Clause in Contracts

CONSULTING SERVICES & COMPENSATION. During the Consulting Period, the Executive shall be paid an annual consulting fee of $680,000, which will be paid bi-monthly in arrears at the rate of $28,333 on the 15th and the last day of each month during the Consulting Period; provided that the first payment hereunder shall be made on the first scheduled payment date after the Effective Date of this Agreement and shall include all amounts that would have been paid had payment commence on the first schedule payment date after the Retirement Date.

CONSULTING SERVICES & COMPENSATION. During the Consulting Period, the Executive shall be paid an annual a monthly consulting fee of $680,00015,000, which will be paid bi-monthly in arrears at the rate of $28,333 on the 15th and the last day of each month during the Consulting Period; provided that , following the first payment hereunder shall be made on submission of a written invoice detailing the first scheduled payment date after work performed during the Effective Date of this Agreement and shall include all amounts that would have been paid had payment commence on the first schedule payment date after the Retirement Datemonth.