Monthly Retainer. The Company will pay the Contractor a retainer of $85,000 per month for the first six months of operations known as Phase One. Following the execution of this Agreement, the Company shall cause to be placed into an escrow account, designated by the Contractor, the full six-month equivalent retainer value (i.e., $510,000). Starting the seventh month, the Company may deduct up to, but no more than, $20,000 per month for the purpose of the repayment of the Contractor's amortized start-up expenses during Phase One. Such amortization will be applied up to a maximum of $5,000 against sales commissions and $15,000 against installation fees.
Appears in 2 contracts
Sources: Contractor Agreement (Purchase Point Media Corp), Contractor Agreement (Purchase Point Media Corp)