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ŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻŻ Calgary, Alberta |
OIL & GAS CONSULTING SERVICES AGREEMENT The oil and gas industry is highly dependent upon the individuals who undertake the work, such that it is extremely important that the contractual arrangements between those individuals and the company need to be clearly defined and established. Such a contract needs to be appropriately negotiated and drafted such that each side is properly protected and capable of realize the most from this particular consulting contract (while having the capacity to resolve problems and settle disputes). What should be noted is that consulting services agreements need to be particularized to the circumstances, given the unique aspects of each consultant business relationship. Particular aspects seen in such contracts have included: "For the period beginning xxxx and ending xxxx, Consultant shall be paid a fee of xxxx Dollars ($xxxx) per month (the "Fee"). If or when the number of days in the twelve month period for which Consultant provides consulting services thereunder exceeds the Consulting Time, then Consultant shall be paid a daily rate of xxxx Dollars ($xxxx) ("Additional Remuneration"); provided however, for the period from xxxx and ending xxxx, such daily Additional Remuneration shall be paid to Consultant if or when the number of such days exceeds ninety (90) days. "During the term of the Agreement, Consultant agrees to provide professional services to xxxx which xxxx may authorize, from time to time, by the execution of Work Orders as described in this Agreement. Consultant SHALL NOT BE OBLIGATED TO PROVIDE SERVICE UNTIL A WORK ORDER OR OTHER WRITTEN AUTHORIZATION HAS BEEN EXECUTED BY BOTH PARTIES IN ACCORDANCE WITH THIS AGREEMENT." "TIME REPORTS. With the exception of Fixed Price Work Orders, for which Time Reports may be waived, Consultant shall prepare and submit to xxxx, monthly, or as otherwise specified in the Work Order, Time Reports showing the total number of hours worked for each of Consultant's employees performing services pursuant to the applicable Work Order. xxxx shall review each Time Report, sign it and return it to the Consultant's designated staff member without undue delay. xxxx's signature shall signify that xxxx approves the accuracy of the itemization of hours and authorizes payment therefor." "A grant of Phantom Stock Appreciation Rights, effective xxxx, and exercisable until xxxx is granted, which shall vest fifty percent (50%) six (6) months after the date of the grant and fifty percent (50%) one (1) year after the date of the grant for a number of shares equal to the number of outstanding Phantom Stock Appreciation Rights exercised by Consultant during the period of xxxx through xxxx up to a maximum of xxxx. This grant shall not be exercisable after xxxx." For more information on the legal services of Neufeld Legal P.C. with respect to employment-related contracts or to schedule an appointment, contact us at Christopher@OilGasLawyer.ca or 403-400-4092. * * * * * Employment-related agreements pertaining to oil and gas sector: Executive Employment Agreement |
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