Company Payments. During the Consulting Period, the Company shall pay the Consultant Twenty-Two Thousand Dollars per month (“Consulting Payments). Such Consulting Payments shall be made on or about the first business day of each calendar month during Consulting Period. Notwithstanding the foregoing, if the Effective Date does not occur on the first calendar day of a month, the payment for such month shall be prorated.

In consideration for performing the Consulting Services, the Company shall pay the Consultant as follows: no later than three (3) business days following the 17th day of each calendar month during the Term, the Company shall pay to the Consultant the amount of fifty thousand dollars ($50,000). The first such payment shall be made by the Company to Consultant no later than three (3) business days after the Effective Date. In addition, the Consultant shall be entitled to reimbursement from the Company for reasonable "out-of-pocket" expenses which have been specifically authorized in advance by the Company in writing.