The Company will compensate and pay the President and CEO an annual base salary of eight hundred sixty-five thousand dollars ($865,000) equivalent to seventy two thousand eighty three dollars and thirty three cents ($72,083.33) per month for his services to the Company during the term of this Agreement.
COMPENSATION. Employees compensation shall be paid as follows:
Compensation. As compensation for the Services rendered by GSS to the Company pursuant to this Agreement and in addition to the expense allowance set forth in [Section 4] ("Expenses") below, the Company shall pay to GSS as set forth below: The Company shall issue to GSS and/or its designees 500,001 restricted shares of the Company's common stock, par value $0.0001 (the "Shares"), for aggregate consideration as set forth below: # 150,000 Shares delivered within three (3) business days following the Commencement Date, at a cost of $.01, which shall immediately vest and be deemed fully-paid and non-assessable upon; and # 38,889 Shares delivered on the first (1st) day of every calendar month, at a cost of $.01, starting the fourth (4th) month from the date of execution of this Agreement until the twelfth (12th) month from the date of execution of this Agreement. The foregoing Shares to be issued on a monthly basis shall vest the earlier of: # six (6) months from date the Shares are required to be delivered; or # January 1, 2017, and the Shares shall be deemed fully-paid and non-assessable Shares on the vesting date(s) as defined above. The Parties acknowledge and agree that in the event the Company elects to terminate this Advisory Agreement by timely delivery of the Termination Notice on or before a date three (3) months from the Commencement Date, no monthly installment of 38,889 Shares will be due and payable under this Advisory Agreement. The Shares shall be issued in the name of GSS and/or certain affiliates/employees of GSS pursuant to written instructions delivered to the Company by GSS with respect to each issuance, commencing with the initial issuance of 150,000 Shares within three (3) business days following the Commencement Date and each subsequent issuance, if any, setting forth the names of and the number of Shares to be issued to the designees who are employees and/or affiliates of GSS. The Company shall deliver to GSS and the Company's transfer agent, legal opinion letters for GSS and for each designee, at the time that the Shares are eligible to be sold pursuant to SEC Rule 144, upon GSS's request. However, the Company will also inform its transfer agent that it can rely on an outside legal opinion provided by GSS at the time the Shares are eligible to be sold pursuant to SEC Rule 144, if GSS and/or its employees/affiliates, decide to provide an outside legal opinion and provided that the form of such outside legal opinion is in a form and substance customary for such SEC Rule 144 legal opinions. It is understood that the total value of GSS's compensation pursuant to the Services rendered under this Agreement will not be recognized and can't be valued until after GSS and its designees receive the proceeds from the sale of all of the Shares. Notwithstanding the foregoing, the Parties acknowledge that the Company, as a public reporting company under the Securities Exchange Act of 1934 (the "Exchange Act") may be required to value the Shares issued to GSS and/or its designees during any quarterly period as compensation expense in the Company's reports filed with the SEC under the Exchange Act.
Compensation. The Company shall pay to Employee, for all services to be performed by Employee an annual base salary (Base Salary) at the rate of $463,500 per fiscal year, or such greater amount as may be authorized by the Compensation Committee of the Board of Directors of the Company (the Compensation Committee), in its sole discretion, upon annual review during the Term of employment, payable in periodic installments in accordance with the Companys payroll practice in effect from time to time and prorated for any portion of a fiscal year (the Companys fiscal year currently being the period from June 1 of each year through May 31 of the following year).
Compensation. For each Booking, Expedia will be entitled to the compensation, as set forth on Annex A (the Compensation).
Compensation. The Parties acknowledge and agree that the Compensation agreed for any Booking made under this Agreement adequately covers any marketing, IT and all other costs and expenses incurred by Expedia in the ordinary course of its business in relation to its facilitation of such Bookings in accordance with the provisions of this Agreement. The Parties further acknowledge that Expedia will not be required to incur any exceptional and/or additional expenditure relating to procuring any Bookings for any Propertys rooms. The Parties agree that the Compensation payable to Expedia may be increased at Suppliers discretion whether generally or at the Property level.
Compensation Failure or delay on the part of any Lender or Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver of its right to demand such compensation, but Borrowers shall not be required to compensate a Lender or Issuing Bank for any increased costs incurred or reductions suffered more than nine months prior to the date that the Lender or Issuing Bank notifies Borrower Agent of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or Issuing Bank’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof)
As compensation for the consulting services described above, Vulcan agrees to pay Consultant $20,000 per month for no more than 60 hours of work per month. In addition, at the time such payments are typically made in 2016, Consultant will receive 3/12s of what a full annual payment would have been for his participation in Vulcan’s Management Incentive Plan in 2015.
Compensation. CEO shall be paid compensation for services as provided in this [Section 3]. All compensation paid under this Agreement will be paid to CEO less necessary deductions and withholdings.
The Consultant shall be paid a fee of € 3,125 per month in arrears, which will be paid without deductions (the Consultant will be responsible for any and all taxes and social security payments and may make his own arrangements for benefits such as short term or long term disability coverage and for insurance for accidents or injuries that might occure during the course of performing the services hereunder). The Consultant shall render an invoice for the fee owing at the end of a month which will be accompanied by a summary work report duly approved by the Chairman. The Corporation shall pay the amount of such invoice within 5 business days of receipt.
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