{"id":38474,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/advisory-agreement-waverly-inc-and-david-j-callard.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"advisory-agreement-waverly-inc-and-david-j-callard","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/advisory-agreement-waverly-inc-and-david-j-callard.html","title":{"rendered":"Advisory Agreement &#8211; Waverly Inc. and David J. Callard"},"content":{"rendered":"<pre>              Agreement Between Waverly, Inc. and David J. Callard\n              ----------------------------------------------------\n\nWaverly,  Inc.  ('Waverly')  and David J. Callard  (DJC') have discussed ways in\nwhich DJC will assist Waverly in 1998.  Such  assistance  shall include  working\nwith senior  management in the following  areas:  monthly review of 1998 results\nand  plans  as well as  longer  range  strategic  plan  for  1998-2000;  merger,\nacquisition,   joint  venture,   financing,   recapitalization   and  investment\nopportunities   involving   Waverly   ('Waverly   acquisition   and  development\nopportunities'  or 'Waverly  A&amp;D');  and active  involvement in oversight of the\nWaverly  business  through  continued  service  as  Chairman  of  the  Executive\nCommittee.  Waverly and DJC wish to continue the retainer relationship which has\nbeen renewed annually since 1990.\n\nWaverly  shall  retain  DJC as a  financial  and  business  advisor at an annual\ncompensation  rate of  $50,000;  retainer  payment  shall be made  quarterly  in\nadvance.  Waverly and DJC will review  quarterly the amount of time spent by DJC\non Waverly projects and mutually agree whether adjustment of the retainer amount\nis appropriate for that quarter. Waverly shall reimburse all reasonable expenses\nincurred by DJC in carrying out his duties under the retainer agreement.\n\nWaverly shall,  also, pay DJC for assistance with specific Waverly A&amp;D projects.\nSuch additional payments  (contingent or otherwise) will be determined by mutual\nat the outset of each project and shall reflect the  complexity and size of each\nproject and DJC's role.\n\nWaverly shall have the right to determine whether it wants DJC to have an active\nrole in any Waverly A&amp;D  project.  DJC and Waverly  wish to ensure that  Waverly\ndoes not become obligated to pay double fees in any A&amp;D transaction. The parties\nshall  designate  Waverly  A&amp;D  projects  in  which  DJC  shall  participate  by\nmemorandum  agreement which shall, also,  describe such additional  compensation\narrangements as are mutually acceptable.\n\nThe  retainer  arrangement  set forth  herein shall have a term of one year from\nJanuary  1,  1998.  Should  DJC's  future  employment  result  in his not  being\navailable  to carry out his duties  hereunder,  either party may  terminate  the\nretainer arrangement with retainer  compensation prorated to date of termination\nand with additional compensation paid where DJC has substantially completed work\non a Waverly A&amp;D opportunity which is closed subsequent to termination.\n\nNotwithstanding  any other  provision of this  Agreement,  Waverly and DJC agree\nthat retainer payments for services performed in 1998 pursuant to this Agreement\nshall be deducted  from payment of the $400,000  contingent  fee provided for in\nthe November 4, 1997 letter agreement attached hereto as Exhibit A.\n\nThis amended agreement  represents the renewal provided for in the November 1990\nagreement with certain modifications which are acceptable to both parties.\n\n\/s\/ David J. Callard                          December 12, 1997\n----------------------                        -----------------\n David J. Callard                             Date\n\n\/s\/ William M. Passano, Jr.                   December 12, 1997\n----------------------------                  -----------------\n William M. Passano, Jr.                      Date\n\n\n                                           \n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9299],"corporate_contracts_industries":[9464],"corporate_contracts_types":[9539,9541],"class_list":["post-38474","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-waverly-inc","corporate_contracts_industries-media__books","corporate_contracts_types-compensation","corporate_contracts_types-compensation__consulting"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38474"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38474"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38474"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}