name / content / group

name: Consulting Duties

content: 519905

Consulting Duties. McErlain is hereby retained as a consultant to the Corporation for a period of two years commencing on September 1, 1996. Consulting duties shall include such duties as may from time to time be agreed upon by the Corporation's Chief Executive Officer, William E. Dye, or his designee, and McErlain. McErlain agrees to make himself available to the extent required to perform such consulting duties. The means by which McErlain performs such consulting duties shall be determined by McErlain, in his sole discretion. For such consulting services, the Corporation shall pay to McErlain a consultation retainer fee of $4,000 per month, such payments commencing September 15, 1996, which amount shall be fully earned on the first day of the month and payable on the 15th day of each month during the period of consulting and otherwise in accordance with the Corporation's customary payroll practices. No further payment shall be made by the Corporation to McErlain for services rendered to the Corporation, unless otherwise agreed to by both parties. During the term of this consulting arrangement, the Corporation shall reimburse McErlain for all reasonable, out of pocket expenses incurred by him in connection with the performance of consulting services hereunder. Such reimbursement shall be made to McErlain promptly following his submission to the Corporation of receipts and other documentation reasonably satisfactory to the Corporation of such expenses. The Corporation and McErlain agree that McErlain is an independent contractor and not an employee of the Corporation and that the Corporation is not obligated to provide McErlain with any worker's compensation insurance coverage. Any income or other taxes based upon the payments made to McErlain by the Corporation will be the sole responsibility of McErlain.