Common use of Time Requirement Clause in Contracts

Time Requirement. (a) Employee will reserve twenty-six hours per month to perform consulting services for Company under this Agreement. Company has the right to request that Employee increase this time requirement, based on its business needs, and Employee may, at Employee’s option, perform consulting services in excess of twenty-six hours per month upon mutual agreement. (b) Employee will maintain a running total of the number of consulting hours pre-approved by Company’s Executive Vice President ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and worked by Employee during the twenty-four month period from January 1, 2005 through December 31, 2006 and will submit, on a semi-annual basis, invoices and reconciliations to Company’s Executive Vice President ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ for approval.

Time Requirement. (a) Employee will reserve twenty-six hours per month to perform consulting services for Company under this Agreement. Company has the right to request that Employee increase this time requirement, based on its business needs, and Employee may, at Employee’s option, perform consulting services in excess of twenty-six hours per month upon mutual agreement. (b) Employee will maintain a running total of the number of consulting hours pre-approved by Company’s Executive Vice President ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and worked by Employee during the twenty-four month period from January 1, 2005 through December 31, 2006 and will submit, on a semi-annual basis, invoices and reconciliations to Company’s Executive Vice President ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ for approval.