Common use of Monetary Compensation Clause in Contracts

Monetary Compensation. The Company shall pay Employee compensation based on the level of services provided to the Company on a bi-weekly basis, as set forth in timesheets and written reports, during the Term as compensation in an amount to be determined through the submission of timesheets, work descriptions and pre-approved expenses on a bi-weekly basis (the “Base Compensation”). The Parties agree that the Base Compensation may be increased or decreased by the Company using its sole discretion in determining whether the work product warrants a higher or lower compensation rate. For example, and example only, the Employee might spend five hours working on a specific task, project or initiative that might prove to be more valuable to the Company than the amount of time spent, or vice versa. Under such circumstances, the Parties agree that the Company may exercise its discretion in making the necessary adjustments to compensate the Consultant based on the value added to the Company. Unless this Agreement is extended by the Company, which it may do in its own discretion in a writing signed by the Parties, this compensation shall be terminated at the end of the Term.