Compensation Payable to Consultant Clause Samples

The "Compensation Payable to Consultant" clause defines the terms under which a consultant will be paid for their services. It typically outlines the payment structure, such as hourly rates, fixed fees, or milestone-based payments, and may specify when and how invoices should be submitted and paid. This clause ensures both parties have a clear understanding of the consultant’s remuneration, helping to prevent disputes over payment and establishing a transparent framework for financial transactions.
Compensation Payable to Consultant. (a) During the Term, the Company shall pay Consultant compensation at the rate of $610,000 per annum. Consultant shall be entitled to such compensation whether or not any service are requested of him and regardless of the number of hours of such service that may be rendered during any particular period. (b) Consultant's annual compensation shall be paid to Consultant in accordance with the Company's regular payroll policy for executives, but not less frequently than once a month. (c) The Company shall not withhold taxes from any payments due to Consultant, except to the extent required by mandatory provisions of applicable law.
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Compensation Payable to Consultant. (a) The Company shall pay to Consultant a sum equal to the rate of $700,000 per annum. (b) Consultant's annual payments shall be paid in accordance with the Company's regular policy but not less frequently than once a month. (c) Of each regular payment, approximately 35.714% shall be deferred (the "monthly deferred amount"), so as to result in the deferral of payment of Consultant's salary at the annual rate of approximately $250,000 per annum. Each such monthly deferred amount shall bear interest, compounded annually, at the rate of 8% per annum, from the first day of the month of deferral to, but not including, the Determination Date. A statement will be furnished to Consultant annually, on or about February 1st of each year, stating the sum of the monthly deferred amounts and the amount of interest accrued thereon as of the preceding December 31st. As used herein, "Determination Date" shall mean the first business day of the first full calendar month following the later of (i) December 31, 2002, and (ii) the date Consultant ceases to be a consultant pursuant to this Agreement.
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Compensation Payable to Consultant. (a) During the Term, the Company shall pay Consultant compensation at the following applicable rates: (i) during the period from January 1, 1996 through December 31, 2000, inclusive, the rate of $475,000 per annum, increased annually by the amount of $25,000 per annum in each successive year of such period commencing January 1, 1997 and (ii) from and
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Compensation Payable to Consultant. (a) From March 11, 1995, through December 31, 1997, the Company shall pay to Consultant a sum equal to the rate of $773,000 per annum. From January 1, 1998, through the Term, the Company shall pay to Consultant a sum equal to the rate of $500,000 per annum. (b) Consultant's annual payments shall be paid in accordance with the Company's regular policy but not less frequently than once a month. (i) The sum of the amounts deferred pursuant to Section 4(b) of the Employment Agreement plus all interest (compounded annually at the rate of 8% per annum) accrued thereon to December 31, 1997 (the "Determination Date") (the "total deferred amount") shall be calculated as of the Determination Date and shall be paid to Consultant in substantially equal monthly payments over a 120-month period commencing on the first business day immediately following the Determination Date and continuing on the first day of each calendar month thereafter until paid in full. Each such payment shall equal $7294.32. Consultant and Company agree to such payment notwithstanding the terms of the Employment Agreement.
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Compensation Payable to Consultant 
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Related to Compensation Payable to Consultant

  • COMPENSATION TO CONSULTANT The Consultant's compensation for the Consulting Services shall be as set forth in Exhibit B attached hereto and incorporated herein by this reference.

  • Compensation to Contractor The terms related to the price of the goods and/or services to be provided under this Agreement and the terms of payment to the Contractor are described in more detail in Attachment “B” to this Agreement: Price and Payment Information.

  • Compensation to NCPS (a) Issuer Party shall pay or cause to be paid to NCPS for its services as the facilitator of escrow as outlined in Exhibit B, which may be updated from time to time by NCPS by providing written notice to Issuer Party. Issuer Party’s obligation to pay such fees to NCPS and reimburse NCPS for such expenses is not conditioned upon a successful closing. Upon Issuer Party’s request, NCPS will provide Issuer Party with copies of all relevant invoices, receipts or other evidence of such expenses. The obligations of Issuer Party under this Section 10 shall survive any termination of this Agreement and the resignation or removal of NCPS. (b) All of the compensation and reimbursement obligations shall be payable by Issuer Party upon demand by NCPS and will be charged automatically by NCPS to the credit card or other payment method separately provided or as otherwise agreed by the Parties. Issuer Party consents to NCPS retaining and using Issuer Party’s payment information for future invoices and as provided in this Agreement. Issuer Party agrees and acknowledges that NCPS and its third party vendors may retain and use Issuer Party’s payment information to facilitate the payments provided for in this Agreement. Issuer Party agrees to provide NCPS written notice (which may be via email) of any update or changes to Issuer Party’s payment information. Absent current payment information, Issuer Party shall make, or cause to be made, all payments to NCPS within 10 days of receiving an invoice therefor. All payments made to NCPS shall be in US dollars in immediately available funds. (c) If Issuer Party fails to make any payment when due then, in addition to all other remedies that may be available: (a) NCPS may charge interest on the past due amount at the rate of 1.5% per month, calculated daily and compounded monthly, or if lower, the highest rate permitted under Law, which Issuer Party shall pay; such interest may accrue after as well as before any judgment relating to collection of the amount due; and (b) Issuer Party shall reimburse, or cause to be reimbursed, NCPS for all costs incurred by NCPS in collecting any late payments or interest, including attorneys’ fees, court costs and collection agency fees; provided that cumulative late payments are subject to the overall limits as may be required by Law as set forth in Exhibit B. (d) Only upon the fulfillment of the Minimum Offering, and only when Escrowed Funds are eligible to be released to Issuer in accordance with Section 4(a), and otherwise in compliance with Law, NCPS is authorized to and may disburse from time to time, to itself or to any NCPS Party from the Escrow Funds (but only to the extent of Issuer’s rights thereto), the amount of any compensation and reimbursement of out-of-pocket expenses due and payable hereunder (including any amount to which NCPS or any NCPS Party is entitled to seek indemnification pursuant to Section 9 hereof). NCPS shall notify Issuer Party of any disbursement from the Escrow Funds to itself or to any NCPS Party in respect of any compensation or reimbursement hereunder and shall furnish to Issuer copies of all related invoices and other statements. (e) Only upon the fulfillment of the Minimum Offering, and only when Escrowed Funds are eligible to be released to Issuer in accordance with Section 4(a), and otherwise in compliance with Law, Issuer shall grant to NCPS and the NCPS Parties a security interest in and lien upon such Escrow Funds (but only to the extent of Issuer’s rights thereto) to secure all obligations hereunder, and NCPS and the NCPS Parties shall have the right to offset the amount of any compensation or reimbursement due any of them hereunder (including any claim for indemnification pursuant to Section 9 hereof) against the Escrow Funds (but only to the extent of Issuer’s rights thereto). If for any reason the Escrow Funds available to NCPS and the NCPS Parties pursuant to such security interest or right of offset are insufficient to cover such compensation and reimbursement, Issuer Party shall promptly pay such amounts to NCPS and the NCPS Parties upon receipt of an itemized invoice.

  • Compensation Other Than Severance Payments 4.1 If the Executive’s employment shall be terminated for any reason following a Change in Control, the Company shall pay the Executive’s full salary to the Executive through the Date of Termination at the rate in effect immediately prior to the Date of Termination or, if Section 18(n)(ii) is applicable as an event or circumstance constituting Good Reason, the rate in effect immediately prior to such event or circumstance, together with all compensation and benefits payable to the Executive through the Date of Termination under the terms of the Company’s compensation and benefit plans, programs or arrangements as in effect immediately prior to the Date of Termination (or, if more favorable to the Executive, as in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason). In addition, if the Executive’s employment is terminated for any reason following a Change in Control other than (a) by the Company for Cause and (b) by the Executive without Good Reason, then the Company shall pay a pro-rata portion of the Executive’s annual bonus for the performance year in which such termination occurs to the Executive on the later of (x) the date that annual bonuses are generally paid to other senior executives and (y) the date that is the first business day after the date that is six months after the Date of Termination. This pro-rata bonus shall be determined by multiplying the amount the Executive would have received based upon actual financial performance through such termination, as reasonably determined by the Company, by a fraction, the numerator of which is the number of days during such performance year that the Executive is employed by the Company and the denominator of which is 365. 4.2 If the Executive’s employment shall be terminated for any reason following a Change in Control, the Company shall pay to the Executive the Executive’s normal post-termination compensation and benefits as such payments become due. Such post-termination compensation and benefits shall be determined under, and paid in accordance with, the Company’s retirement, insurance and other compensation or benefit plans, programs and arrangements as in effect immediately prior to the Date of Termination or, if more favorable to the Executive, as in effect immediately prior to the occurrence of the first event or circumstance constituting Good Reason.

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