Common use of Retention as a Consultant Clause in Contracts

Retention as a Consultant. During the Consulting Period (as defined below) (i) the Company shall retain Consultant and Consultant shall serve the Company as an independent consultant on the terms and conditions set forth herein and (ii) Consultant shall provide such consulting services to the Company as the Company may reasonably request under the direction of the Company's Board of Directors consistent with its overall objectives in an amount not to exceed (x) 40 hours per month for the first three months of the "Consulting Period" (as defined below) and (y) 20 hours per month thereafter. Consultant may perform his duties hereunder at such locations as may be agreed upon between Consultant and the Company (PROVIDED, that if requested to perform such duties in any location other than the San Diego, California, area the Company shall reimburse Consultant for his reasonable out-of-pocket expenses incurred in connection therewith in accordance with Section 3(b) hereof) or by telephone consultation, written communication and/or by fax as appropriate. As an independent consultant, Consultant shall not be authorized to act for or enter into any agreement on behalf of the Company without written authorization from the Company's Board of Directors.

Appears in 2 contracts

Sources: Consulting Agreement (Psicor Inc), Consulting Agreement (Psicor Inc)