In July 1888, Brown and Peck negotiated a licensing deal with George Westinghouse for Tesla's polyphase induction motor and transformer designs for $60,000 in cash and stock and a royalty of $2.50 per AC horsepower produced by each motor. Westinghouse also hired Tesla for one year for the large fee of $2,000 ($52,700 in today's dollars) per month to be a consultant at the Westinghouse Electric & Manufacturing Company's Pittsburgh labs.