Compensation for Consulting Services Clause Samples

The Compensation for Consulting Services clause defines how and when a consultant will be paid for their work. It typically outlines the payment structure, such as hourly rates, fixed fees, or milestone-based payments, and may specify reimbursement for expenses incurred during the engagement. This clause ensures both parties have a clear understanding of financial expectations, reducing the risk of disputes over payment and providing transparency regarding compensation.

POPULAR SAMPLE Copied 145 times

Compensation for Consulting Services. For each quarter (i.e., three-month period) that Executive provides consulting services to MediciNova pursuant to the option of MediciNova contained in Section 9 above, MediciNova shall pay Executive a sum equal to fifteen percent (15%) of Executive’s annual Base Compensation which shall be applicable at the time of Executive’s termination of employment with MediciNova (prorated for any period of less than a quarter). The parties expressly agree that when Executive is performing consulting services for MediciNova, Executive is acting as an independent contractor. Therefore, Executive shall be solely liable for Social Security and income taxes that result from Executive’s compensation as a consultant. In addition, Executive shall not be entitled to any other benefits including, without limitation, such group medical, life and disability insurance and other benefits as may be provided to employees and/or executives of MediciNova.

Split View

Download

Compensation for Consulting Services a. As compensation for services performed under this agreement, the Company will issue to consultant two million (2,000,000) shares of the Company’s restricted common stock as follows: One million (1,000,000) shares to be issued upon signing of this agreement and one million (1,000,000) shares to be issued on January 1, 2012.

Compensation for Consulting Services. The Company shall pay the Consultant for the Consulting Services, $5,000 US per month (the “Compensation”) during the term of this Agreement. In addition the Company shall grant the Consultant an Option to acquire 300,000 common shares of the Company at the closing price of the common shares traded on the OTC BB on January 1, 2009. Said Option to vest at the rate of 50,000 shares per month, commencing in the month of the Effective Date of this Agreement. The options shall expire on January 1, 2014. In the event of termination of this Agreement prior to the end of the Consulting Period the Consultant shall only be entitled to exercise the vested portion of the options.

Compensation for Consulting Services. As compensation for the Consulting Services, the Company shall, or shall cause one or more of its Affiliates to, on behalf of the Company Group (subject to the provisions of Section 3(e)), pay Manager a fee of $1,000,000 per year (together, the “Consulting Fee”), one quarter of which shall be payable quarterly in advance on the first day of each January, April, July and October (each, a “Consulting Services Payment Date”). The Consulting Fee shall begin accruing immediately following the consummation of the Acquisition, and the amount of the Consulting Fee accrued prior to the next succeeding Consulting Services Payment Date shall be payable on such Consulting Services Payment Date, together with the regular installment of the Consulting Fee payable on such Consulting Services Payment Date. The Consulting Fee may be increased if (and only if) approved by Unanimous Investor Approval in accordance with the Stockholders Agreement, but may not be decreased without the prior written consent of Manager.

Compensation for Consulting Services. The Company shall pay to Consultant and/or assigns as instructed by Consultant for the Consulting Services rendered hereunder, the sum of 1,000,000 shares of restricted common stock of the Company (“Consultant Shares”) which shall be earned in the following manner: 1,000,000 shares will be earned by the Consultant and/or assigns in equal installments of 250,000 shares on December 1, 2007, March 1, 2008, June 1, 2008 and September 1, 2008. Said 1,000,000 shares of restricted common stock of the Company will be tendered to Consultant and/or assigns in one certificate on June 1, 2007; provided, however, that Consultant must return any unearned shares upon termination of this Agreement.

Compensation for Consulting Services. For the Consulting Services performed during the Consulting Period, and contingent upon Executive executing the Retirement Date Separation Agreement and General Release attached to this Agreement as Exhibit A within fifteen (15) days after the Retirement Date and not revoking it as may be permitted by the Retirement Date Separation Agreement and General Release or applicable law and executing the Consulting Period Separation Agreement and General Release attached to this Agreement as Exhibit B within fifteen (15) days after the end of the Consulting Period, a. the Company shall pay Executive as follows: i. forty-three thousand twenty-seven dollars and sixty-three cents ($43,027.63) per month in arrears, less applicable tax withholdings required by law, for each month during Year 1; ii. thirty thousand nine hundred eighty-three dollars and forty-seven cents ($30,983.47) per month in arrears, less applicable tax withholdings required by law, for each month during Year 2; and iii. twenty thousand seven hundred forty-five dollars and ninety-four cents ($20,745.94) per month in arrears, less applicable tax withholdings required by law, for each month during Year 3 (collectively, the “Consulting Fees”); and b. the Company shall provide Executive with a Company-leased automobile and associated automobile insurance and reimburse Executive for gas used for Company purposes. c. The Company shall reimburse Executive for all reasonable travel, lodging and other appropriate expenses, if any, incurred by him in the performance of the Consulting Services during the Consulting Period, in accordance with the expense reimbursement policies of the Company or its subsidiaries, divisions or affiliates as in effect from time-to-time; provided, however, that in all circumstances Executive shall document or substantiate such expenses to the reasonable satisfaction of the Company and all travel and lodging must be booked through the Company’s travel coordinator. During the Consulting Period, the Company will provide Executive with use of an office with a window at Company headquarters and access to administrative and other support for use in the performance of the Consulting Services. The Company intends that the administrative support shall be provided by Executive’s current secretary for so long as she remains a Company employee. This administrative and other support may be used by Executive only for work related to the business of the Company. d. Any payments made or benefits p...

Compensation for Consulting Services. As compensation for the Consulting Services, MergerCo, on behalf of itself and the other members of the Company Group, shall pay CD&R a fee of $1,500,000 per year (the “Consulting Fee”), one quarter of which shall be payable quarterly in advance on the first day of each January, April, July and October (each, a “Consulting Services Payment Date”). The Consulting Fee shall begin accruing immediately following the consummation of the Acquisition, and the amount of the Consulting Fee accrued prior to the next succeeding Consulting Services Payment Date shall be payable on such Consulting Services Payment Date, together with the regular installment of the Consulting Fee payable on such Consulting Services Payment Date. The Consulting Fee may be increased with the approval of a majority of the members of the Board of Directors of Investors who are not employees of Investors, CD&R or any of their respective subsidiaries and Affiliates (the “Disinterested Directors”), but may not be decreased without the prior written consent of CD&R. If an employee of CD&R or any of its subsidiaries or Affiliates is elected to serve on the Board of Directors of Investors or any of its subsidiaries (a “Designated Director”), CD&R shall cause such Designated Director to waive any and all director's fees to which he or she otherwise would be entitled for any period for which the Consulting Fee (or an installment thereof) is paid and for which such Designated Director continues to be employed by CD&R or any of its subsidiaries or Affiliates. If, on the other hand, an employee of CD&R or any of its subsidiaries or Affiliates is appointed to an executive management position (or a position of comparable responsibility) with Investors or any of its subsidiaries, whether in addition to or other than as a Designated Director, then, for the period of such employee's service in such position, the Consulting Fee shall be increased by an amount to be reasonably determined by CD&R, such amount not to exceed 100% of the Consulting Fee then in effect. For purposes of this Agreement, “Affiliate” shall mean, with respect to any person or entity, any other person or entity directly or indirectly controlling, controlled by or under common control with, such person or entity.

Compensation for Consulting Services. The OWNER shall pay the CONSULTANT the appropriate fee as complete compensation for all services rendered as herein agreed and as stated in the ENGINEERING SERVICES AGREEMENT: 1. The OWNER shall pay the CONSULTANT for the ENVIRONMENTAL AND PREDESIGN SERVICES set forth in Exhibit A, attached, according to the labor rates shown in Exhibit B agreement and direct nonsalary expenses at actual cost. The not-to-exceed total cost for these services during FY 2018-19 is FORTY FIVE THOUSAND SEVEN HUNDRED THREE Dollars ($45,703) and a not-to-exceed total cost for services during FY 2019-20 of NINETEEN THOUSAND dollars ($19,000) for a total of SIXTY FOUR THOUSAND SEVEN HUNDRED THREE Dollars ($64,703). 2. Any amount over the maximum estimated cost for the services as set forth in Exhibit A because of scope of work changes will be negotiated and agreed upon between the OWNER and the CONSULTANT in writing prior to beginning of additional work. 3. In the event that the engineering services are required in connection with this project beyond 2018, the Consultant's Hourly Rates shall be adjusted to conform with the CONSULTANT's standard rates as established for the subsequent years. 4. The CONSULTANT's direct nonsalary expenses are defined as the costs incurred on or directly for the PROJECT, other than payroll costs. Such direct nonsalary expenses shall be computed on the basis of actual purchase price for items obtained from commercial sources and on the basis of usual commercial charges for items provided by the CONSULTANT. Direct nonsalary expenses shall include, but not be limited to, necessary transportation costs, including mileage at the current rate per mile allowed by the IRS when automobiles are used and standard rates per passenger mile when aircraft are used, meals and lodging, laboratory tests and analyses, equipment rental, postage, shipping, printing, binding, and copying charges.

Compensation for Consulting Services. The Company shall pay to Consultant for said services rendered hereunder, the sum of One Million (1,000,000) shares of 144 restricted common stock of the Company which shall be due and payable in the follow manner: 83,337 thousand shares will be due and payable immediately upon signing of this Agreement, and the remaining Nine Hundred Sixteen Thousand Six Hundred Six Hundred Sixty-three (916,663) shares will be due and payable in eleven (11) equal installments of 83,333 shares beginning on September 31, 2007 and ending on July 31, 2008. Said installments will be issued on the last day of each month by the Company’s agent, Nevada Agency and Trust Company (NATCO), and mailed directly to Consultant at the address listed herein below. Such arrangement will be subject to a standing order submitted by the Company to NATCO, a copy of which is attached hereto as Exhibit A. Consultant shall send the Company monthly invoices describing services provided, due at the time each certificate is scheduled to be issued, no later than the last day of each month. If the parties mutually agree to the Extended Consulting Period, the Company shall pay to Consultant for said services rendered during the Extended Consulting Period, the sum of Three Hundred Thirty-Three Thousand Three Hundred and Thirty (333,330) shares of restricted common stock of the Company which shall be due and payable in six (6) equal installments of 55,555 shares Cytogenix, Inc. ________ ▇▇▇▇▇▇ ▇▇▇▇▇▇, Inc. ________ beginning on August 31, 2008 and ending on January 31, 2009. In a similar manner as above, said installments will be issued on the last day of each month by the Company’s agent, Nevada Agency and Trust Company (NATCO), and mailed directly to Consultant at the address listed herein below, subject to a new standing order submitted by the Company to NATCO, a copy of which shall be delivered to Consultant at the time of extension.

Compensation for Consulting Services. For Services hereunder, CLIENT shall pay to CONSULTANT a fee of $65 per hour. The minimum time to be billed for any one day for work performed at CONSULTANT’ s location will be ½ hour. The minimum time to be billed for any one day for work performed at CLIENT’ S location will be 1 hour.