A monthly retainer clause stipulates a fixed fee paid to a service provider or consultant on a recurring monthly basis to ensure their availability and commitment to perform specified duties or services. This arrangement is common in professional services, allowing clients to secure consistent access to expertise while providing the service provider with predictable income.
(a) Monthly Retainer. (i) Monthly Retainer Hours. In consideration of the Firm providing legal services to TSI, the Company shall pay the Firm a Monthly Retainer of $21,250 in advance. The Monthly Retainer amount does not include legal services for special matters, which are described below. (ii) Fees for Special Matters. The Monthly Retainer does not include fees for litigation in which the Firm directly represents TSI, transactional work or Special Matters outside of the ordinary course of business of TSI. Fees to be paid for exceptional matters shall be agreed to in advance by the Firm and the Company. TSI shall be under no obligation to engage the Firm, and the Firm shall be under no obligation to accept any engagement with respect to, any Special Matter.
(iv) Payment of Monthly Retainer and Expenses. The Company shall remit payment to the Firm for the Monthly Retainer in advance and for, any Special Matter hours and any expense reimbursement, within fifteen (15) days of the approval by the Company of a Monthly Billing Statement.
(a)Monthly Retainer. Consultant shall be entitled to compensation in the amount of Ten Thousand Dollars ($10,000) per month (for the provision of approximately 40 hours of Services per month) for the performance of Services during the Consulting Term (as defined herein) (“Monthly Retainer”).
Monthly Retainer shall be paid monthly in advance in cash, whether by bank or cashier’s check or wire transfer in immediately available U.S. funds. Additional Compensation and Business Expenses shall be paid within fifteen (15) days after the Consultant provides an invoice including reasonable supporting documentation. On the Termination Date (as defined herein), Corporation shall pay a pro rata amount for the portion of the last month of the Monthly Retainer.
During the Term, Agios will pay Consultant a monthly retainer fee of $18,750. For the avoidance of doubt, the schedule of the monthly retainer fees payable to Consultant is as follows: •A monthly retainer fee of $18,750 for the period from the Effective Date through January 31, 2023; •A monthly retainer fee of $18,750 for the period through February 28, 2023; and •A monthly retainer fee of $18,750 for the period through March 31, 2023. Agios will make each applicable monthly retainer payment within 15 days following the last day of the applicable month. The continued vesting, during the Term, of Consultant’s equity awards granted to Consultant during her former employment with Agios shall also constitute consideration for this Agreement.
As compensation for services as a Consultant rendered pursuant to this Agreement, Company shall pay Consultant a monthly retainer of $50,000 (“Monthly Retainer”)
6. This Monthly Retainer Agreement shall terminate, except as to Section 5, on December 31, 2020 unless terminated earlier by either the Company or the Consultants on at least 60 days prior written notice.
MONTHLY RETAINER AGREEMENT Monthly Retainer Agreement dated as of January 1, 2020 between Scientific Bioprocessing, Inc., a Delaware Corporation (the “Company”), and Joseph G. Cremonese (“JC”) and Laboratory Innovation Company, Ltd., a Pennsylvania sub-chapter S corporation, of which JC is President, director and sole stockholder (“LIC”)
$20,000 per month and prorated for any partial calendar months during the Transition Period. Consultant will no longer receive a Monthly Retainer once this Agreement expires or is otherwise terminated (except as set forth in Section 3(e)(i) of this Amendment).
5.1. KCF is entitled to an agreed monthly retainer in the amount of €27,500 (which already includes the IPO-evaluation) for the IPO-Sub-Phase 1 and IPO-Sub Phase 2. From January 2019 on the retainer will be a monthly retainer of €18,000.
D. Rates: Authorized Days: As required and authorized by AV Task Manager Rate: $4,000.00 per day Monthly Retainer: $4,000.00 Total Not To Exceed Cost: $24,000.00 (excluding expenses)
Bright will pay Consultant a monthly retainer of $50,000 per month (the “Monthly Retainer”). The payment for May shall be made within 5 business days after the execution of this Agreement and shall be paid on the 15th day of each month thereafter. •Upon the closing of the sale of Bright’s CA Medicare Advantage business at any time prior to June 30, 2024, Bright will pay Consultant an amount equal to her base salary minus the aggregate amounts paid by Bright for the Monthly Retainer.
A monthly retainer is a predetermined fee paid to a service provider for a set range of services over a specified period, usually every month. This arrangement benefits various professionals, such as consultants, lawyers, designers, and digital marketers. It ensures steady compensation for the service provider and gives clients predictable monthly costs for ongoing services.
You should consider using a monthly retainer in the following scenarios:
Writing a monthly retainer agreement involves several specific elements:
Example:
Retainer Agreement Between [Service Provider] and [Client]
Effective Date: [Date]
Scope of Services: [Detailed description of services]
Monthly Fee: [Amount]
Payment Terms: [Description of payment schedule and conditions]
Termination: [Conditions for termination]
Confidentiality: [Confidentiality clauses]
Signatures:[Service Provider Signature]
[Client Signature]
Contracts that commonly include a monthly retainer are typically service-oriented. These include but are not limited to:
These contracts serve industries that require ongoing support and assistance, making them an integral part of many businesses’ strategy to maintain effective operations.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
A "most favored customer" clause is a contractual provision ensuring that the customer receives terms as favorable as those granted to any other customer. This clause typically requires the seller to extend the same benefits or prices to the favored customer whenever offering better terms to others.
The "Most Favored Nation" clause is a contractual provision that ensures a party receives terms that are at least as favorable as those given to any other party in similar agreements. This clause is commonly used to prevent discrimination and to maintain competitive equal footing among contracting parties.
A mutual agreement clause specifies that certain actions, changes, or decisions within a contract require the consent of all involved parties before implementation. This clause ensures that all parties have equal input and acknowledge any modifications to the original terms, promoting collaboration and fairness in the contractual relationship.
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