Common use of Consulting Terms Clause in Contracts

Consulting Terms. Consultant is hereby retained to provide business consulting and strategic advisory services as reasonably requested by the Company in connection with the Company’s execution of its business plan and entering into various business arrangements time to time (the “Services”). Without limiting the foregoing, Consultant shall use his reasonable best efforts to render such Services to the Company and further the Company’s interests. The Company and Consultant expect to have regular telephonic conversations and personal meetings on an as-needed basis in connection with Consultant’s providing of the Services, and Company will provide Consultant with updates on latest corporate events and developments. Consultant will not be an employee of the Company, but instead an independent contractor of the Company. The term of this Agreement, and the consulting arrangement described herein, shall be six (6) months commencing as of the date hereof (the “Term”). Consultant will be compensated by the payment by the Company of Ten Thousand Dollars ($10,000). The Company has concurrently herewith paid the aforementioned fee. The Company shall reimburse Consultant, for his reasonable out-of-pocket expenses incurred in connection with providing the Services contemplated herein (but for any air-travel requested by the Company, the Company will book and pay for coach or business-class airfare tickets for Consultant); provided, however, that as a condition to any such reimbursement Consultant will obtain the Company’s prior written approval for (1) any expense individually in excess of $250 or (2) all expenses in excess of an aggregate of $5,000 incurred since the date of this Agreement.