Back to top

MANAGEMENT CONSULTING AGREEMENT

Consulting Services Agreement

MANAGEMENT CONSULTING AGREEMENT | Document Parties: DATAWATCH CORP | Datawatch Corporation You are currently viewing:
This Consulting Services Agreement involves

DATAWATCH CORP | Datawatch Corporation

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: MANAGEMENT CONSULTING AGREEMENT
Governing Law: Massachusetts     Date: 10/23/2007
Industry: Software and Programming     Sector: Technology

MANAGEMENT CONSULTING AGREEMENT, Parties: datawatch corp , datawatch corporation
50 of the Top 250 law firms use our Products every day
EXHIBIT 10.1
MANAGEMENT CONSULTING AGREEMENT
 
This Management Consulting Agreement (the “Agreement”) is made as of October 22, 2007, by and between Robert W. Hagger (“Hagger”) and Datawatch Corporation (the “Company”).

WHEREAS , Hagger is the President and Chief Executive Officer (the “CEO”) of the Company; and

WHEREAS , the Company and Hagger desire to provide for consulting services relating to the transition from Hagger to the Company’s newly elected President and CEO (the “New CEO”) effective January 1, 2008;
 
NOW, THEREFORE, in consideration of the foregoing and the agreements herein contained, and intending to be legally bound, the parties hereby agree as follows:
 
1.    Continuation as CEO .  Hagger agrees to continue to serve as the CEO of the Company from the date of this Agreement until December 31, 2007 (the “Interim Period”), unless earlier terminated as specified in Section 5.  During this period, Hagger shall devote substantially all of his business time, attention and energies to the Company’s business and shall not engage in any other business activity without the Board of Directors’ approval.  As of January 1, 2008, or earlier, upon either the termination of Hagger’s employment by the Company without Cause (as defined herein) or by Hagger for Good Reason (as defined herein), the Company will reimburse Hagger for relocation expenses in connection with his relocation to Europe in accordance with the Company’s relocation policy, in an amount not to exceed $30,000.  The date of January 1, 2008 is referred to herein as the “Transition Date.”
 
2.    Consulting Services .  Unless the relationship is earlier terminated as provided in Section 6 hereof, for a period of 12 months after the Transition Date (the “Consulting Period”), Hagger or, at his option, a corporation or other entity of which Hagger is an employee or principal (the “Consulting Company”) (Hagger or the Consulting Company, as the case may be, in their role as consultant each are hereinafter referred to as the “Consultant”), will provide consulting services to the Company as provided herein.  Consultant will be available as reasonably requested by the Company, to provide such services and duties as the Company reasonably requests, with respect to training, advice and assistance to the Company and the New CEO in the transition to the position of Chief Executive Officer for the Company.  The issues on which Consultant may be requested to provide training, advice and assistance include SEC rules, regulations, filings and compliance, investor relations, banking facilities, the status of customer contracts and general business advice.  Consultant will determine his own hours and method of performing the consulting services; he may perform the services from any location; he will generally use his own tools and equipment; and he will not be supervised or controlled in the performance of his tasks by the Company.  Consultant agrees to perform his consulting services well and faithfully and to the best of his ability.  Consultant agrees to take no action prejudicial to the interests of the Company during the Consulting Period.
 
3.    Consulting Fee .  As compensation for the provision of consulting services hereunder, the Company shall pay a consulting fee to Consultant during the Consulting Period on a monthly basis at the rate of $25,000 per month.  In addition, Consultant will be reimbursed by the Company for all reasonable and properly documented expenses incurred in connection with providing the consulting services, subject to the approval of the New CEO and in accordance with the Company’s expense reimbursement policies.  Other than as set forth in this Agreement or as otherwise required by law, neither Hagger nor the Consultant will be entitled to any other benefit or compensation in connection with the termination of Hagger’s employment by the Company or the performance of the consulting services hereunder.
 
 
 
 
 
 

 
4.    Independent Contractor Relationship .  The parties expressly understand and agree that, during the Consulting Period, Consultant’s status in relation to the Company will be that of an independent contractor, and that neither this Agreement nor the services to be rendered hereunder by Consultant will for any purpose whatsoever create an employment relationship between the parties.  Consultant will have exclusive responsibility for payment of all federal, state, and local income taxes, as well as all unemployment and disability insurance, social security, and other taxes, applicable to the compensation to be provided to him hereunder by the Company.  Consultant acknowledges that he will not receive any employee benefits from the Company, and that, as an independent contractor, Consultant will have exclusive responsibility to obtain and make payment for health insurance, life insurance, and any other benefits that he wishes to receive.  Further, Consultant agrees that, except as specifically authorized by the Company, he will not seek to bind the Company under any contract or other obligation.
 
5.    Termination of Employment . During the Interim Period, Hagger’s employment may be term

 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more