Follow-on Term. If the parties enter into another agreement substantially similar to this Agreement for an additional term, the effective date of the follow-on agreement will be the day after the expiration date of this Agreement.
Follow-on Term. During the Follow-On Term as defined at Section 8.2, the Company will pay Consultant $600.00 per hour. During the Term as defined at Section 8.2, payment of the fixed monthly fee for Services shall be paid automatically withing five (5) days of the end of the month in which the Services were performed, irrespective of how many hours the Company actually requests Consultant to work. Payment for time worked over 40 hours in a month and reimbursable expenses shall be made within thirty (30) days after the Company’s receipt of an invoice itemizing all time actually worked over 40 hours in a month (in 30-minute increments). For purposes of calculating and billing hours incurred for travel, against both the Base Monthly Hours and the excess hours, during both the Initial Term and the Follow-On Term, Consultant shall divide the actual travel hours incurred by fifty percent (50%). Reimbursable expenses incurred by Consultant must be approved in advance in writing by the Company Representative and as a condition to receipt of reimbursement of approved expenses, Consultant shall be required to submit to Company reasonable evidence that the amount involved was expended and related to Services provided under this Agreement. Consultant shall submit all invoices directly to the Company, Attn: Accounts Payable via e-mail at xxxxxxxx@xxxxxxx.xxxxxxxxx.xxx with a copy to xxxxxx@xxxxxxx.xxx. Business class air travel is authorized.
Follow-on Term. Following the Initial Term, the Agreement may be renewed on a monthly basis in writing signed by Consultant and an authorized executive of the Company (the “Follow-On Term”). During the Follow-On Term, Consultant shall provide Services on an hourly basis as requested by the Company. The Initial Term and the Follow-On Term shall, together, be the “Term” for purposes of this Agreement.
