Consulting Agreement between Icoria and Consultant for Research Triangle Park Services
Icoria has entered into an agreement with a consultant to provide services at Research Triangle Park for two days per week over a period of up to six months. The consultant will be paid $2,000 per eight-hour workday and $1,000 per travel day, plus expenses, when traveling to and from Icoria if not otherwise working. The consultant must submit biweekly invoices detailing time spent, and Icoria will make payments twice monthly, provided invoices are submitted on time.
Exhibit 10.1
ICORIA shall pay a daily consulting rate (“Consulting FEE”) of Two Thousand Dollars ($2,000.00) per eight hour day for working in Research Triangle Park for two (2) days per week for up to six (6) months, Icoria will pay a daily rate (“Travel FEE”) of One Thousand Dollars ($1,000.00) per day plus expenses for travel days when the CONSULTANT is traveling to and from ICORIA and a Consulting Fee is not otherwise applicable. CONSULTANT will prepare and submit a biweekly account of all time spent providing Services in daily increments. Payment of the Consulting FEE and Travel FEE shall be rendered by ICORIA to coincide with its biweekly check runs and upon receipt of an invoice to be submitted on a biweekly basis by CONSULTANT following completing of each two (2) week period. ICORIA will pay CONSULTANT on or about the fifth (5th) and twentieth (20th ) day of the month for the services rendered in the prior two (2) week period, provided that CONSULTANT has submitted an invoice no later than the first (1st) and fifteenth (15th) day of the month for services rendered in the period two week period.
