Consulting Services Fees. Promptly upon receipt of invoices for the consulting services being subcontracted to Phoenix under the terms of Section 2.2 below, LBS shall invoice the End Users for such Consulting Services at a rate that shall be equal to or greater than PHOENIX then current blended Consulting Rate of One Hundred and Fifty Dollars ($150.00) per man-hour, and such invoices shall be required to be paid to LBS within thirty days from the invoice date. LBS shall be entitled to retain twenty percent (20%) of the Consulting Services Fees invoiced and collected from End Users. LBS shall remit the balance of the Consulting Services Fees to Phoenix within five (5) business days of receipt thereof.
Appears in 2 contracts
Sources: License and Reseller Agreement (London Bridge Software Holdings PLC), License and Reseller Agreement (Phoenix International LTD Inc)