Common use of Base Consulting Fee Clause in Contracts

Base Consulting Fee. Consultant shall be entitled to receive a base Consulting fee of $50.00 per hour, payable in the common stock of the Company at fair market value per share. Fair market value shall be defined as: (i) if the Company's securities are publicly traded: the greater of the Company's Closing Bid price on the national exchange where it securities are listed for trading; or (ii) if the Company's securities are privately held: the selling price of the Company's common stock in its last sale to an outside party. Said fee shall be paid to Consultant in full at the completion of this Agreement, unless Consultant's engagement is terminated earlier pursuant to Section 9 of this Agreement, in which case Consultant's accrued fees are due and payable upon termination.