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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Sources: Consulting Agreement (Tele Communications Inc /Co/)
Compensation Payable to Consultant. (a) During the Term, the Company shall pay Consultant compensation at the rate of $610,000 325,000 per annum, commencing as of the pay period commencing February 20, 1998. Consultant shall be entitled to such compensation whether or not any service services 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 payments 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 Consultant unless notified in writing by Consultant not to the extent required by mandatory provisions of do so and such non-withholding is allowed under applicable law.
Appears in 1 contract
Compensation Payable to Consultant. (a) During the Term, the Company shall pay Consultant compensation at the rate of $610,000 650,000 per annum. Consultant shall be entitled to such compensation whether or not any service services 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 payments 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 Consultant unless notified in writing by Consultant not to the extent required by mandatory provisions of do so and such non-withholding is allowed under applicable law.
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