COMPENSATION OF THE CONTRACTOR Clause Samples

COMPENSATION OF THE CONTRACTOR. As compensation for the services rendered by the Contractor pursuant to this Agreement, the Company agrees to pay to the Contractor a fee of Forty Thousand (US$40,000) United States Dollars per month payable for each calendar month with the first month's fee due and payable upon execution of this Agreement. Thereafter, the monthly fee of US$40,000 is payable in advance of the month in which services are to be rendered.

COMPENSATION OF THE CONTRACTOR. 3.01 The Contractor shall furnish all labor, materials, supplies, and services in accordance with the conditions of this Agreement necessary to complete the services as defined in Attachment A. 3.02 Payment will be for the amount set forth in Attachment A. No payments will be provided prior to commencement of services, absent a performance bond from Contractor adequate to cover the cost of completing such services. 3.03 Contractor shall submit a properly itemized invoice referencing services performed and/or applicable expenses incurred under this Agreement. Contractor shall cooperate with and provide any other necessary information to Whitestown. Whitestown will pay Contractor within ninety (90) days after receipt of such properly itemized and legitimate claim forms under agreed schedules, and following approval of such claim(s) by the Whitestown Town Council as provided by law. All payments are further subject to appropriations as required by applicable law.

COMPENSATION OF THE CONTRACTOR. As compensation for the services rendered by the Contractor pursuant to this Agreement, the Company shall pay to the Contractor a fee of CAD$12,500 per month payable on the first business day of each of the months during the term of this Agreement. The Contractor shall be granted 350,000 stock options from the Company on the Effective Date at an exercise price equal to higher of: (a) the closing share price of the Company on the TSX on the trading day before the Effective Date of this Agreement, or (b) Cdn$ 0.80. The options will be subject to vesting in accordance with the following schedule: 25% on the Effective Date and an additional 25% each four (4) month period thereafter until Contractor is 100% vested; and shall be exercisable until the earlier of the date which is 30 months from the date of grant and the date which is 30 days following the date of termination of the services of the Contractor under this Agreement or any renewal hereof, provided that, the options shall terminate immediately upon termination of this Agreement by the Company pursuant to paragraphs (b) and (c) of section 4.2 hereof. Following the initial term of the Agreement, the services rendered and monthly cash compensation amount payable is subject to renegotiation, at the request of the Company, such request to be provided in writing with at least 30 days prior notice.

COMPENSATION OF THE CONTRACTOR. 8.1 THE CONTRACTOR shall be compensated every Quarter on the basis of the volume of Hydrocarbons transferred to THE AFFILIATE at the Transfer Points, from and including the Production Date, as set forth in Clause 18. 8.2 The fees for services Of THE CONTRACTOR, including the recovery of operating costs, will be paid as Operating Fees on the basis of the volume of Hydrocarbons transferred to THE AFFILIATE, as set forth in Clause 18. 8.3 The Capital Costs (and Non-Capital Costs incurred prior to the Production Date that are included in the Capital Costs) may be recovered as Capital Fees on the basis of the volume of Hydrocarbons transferred to THE AFFILIATE, as set forth in Clause 18. 8.4 The Incentives for Production Increases will be paid as established in Subclause 18.17. 8.5 The Parties understand that THE AFFILIATE and THE CONTRACTOR are subject to the Law on the Value Added Tax ("IVA") and to the regulations thereunder, as they may be amended from time to time, in relation with the services to be rendered and the compensation and reimbursement to be paid, under this Agreement. In accordance with the regime in force, THE AFFILIATE will pay THE CONTRACTOR, in Bolivars, the IVA amounts that THE CONTRACTOR must pay to the Government in relation to the services rendered and corresponding compensation under this Agreement. THE AFFILIATE shall pay this amount to THE CONTRACTOR within the terms established by Law for the payment of IVA by THE CONTRACTOR to the Government, through deposits in an amount and bank designated by THE CONTRACTOR, unless otherwise agreed. The amount of IVA to be paid by THE AFFILIATE to THE CONTRACTOR in independent from and in addition to the compensation and the reimbursements due for payment to THE CONTRACTOR in accordance with Clauses 8.1 through 8.4 and Clause 18 of this Agreement.

COMPENSATION OF THE CONTRACTOR. 3.01 The Contractor will provide all services to complete the work described in Attachment A. 3.02 The Contractor will bill third party insurance for all billable services rendered (outlined in Attachment A). The board shall not be required to provide compensation to the contractor. 3.03 The Board agrees to provide necessary student records and other information to the contractor to the extent an appropriate release is provided by the student’s parent/guardian for such records.

COMPENSATION OF THE CONTRACTOR. As compensation for the services rendered by the Contractor pursuant to this Agreement, the Company shall pay to the Contractor a fee of CAD$12,500 per month payable on the first business day of each of the months during the term of this Agreement. The Contractor shall be granted 350,000 stock options from the Company within 30 days of the Effective Date at the exercise price of CAD$ 1.95 per share. The options will be subject to vesting in accordance with the policies of the TSX Venture Exchange and shall be exercisable until the earlier of the date which is 2 years from the date of grant and the date which is 30 days following the date of termination of the services of the Contractor under this Agreement or any renewal hereof, provided that, the options shall terminate immediately upon termination of this agreement by the Company pursuant to paragraph (c) of section 4.2 hereof.

COMPENSATION OF THE CONTRACTOR