Employment and Duties Clause Example from Business Contracts

Employment and Duties. (a) Employment. Subject to the terms and conditions set forth in this Agreement, the Company hereby agrees to continue to employ the Executive, and the Executive hereby accepts continued employment, to serve as the Company's President, Chief Executive Officer, and Chief Financial Officer, and will serve in such other positions, and perform and execute such duties and responsibilities assigned to the Executive from time to time by the Company's Board of Directors (the "Board of Directors"). Addit...ionally, the Executive shall continue to serve, during the term of this Agreement, as a member of the Company's Board of Directors. (b) Performance of Duties. In performance of the Executive's duties, the Executive shall be subject to the direction of, and be reporting directly to, the Company's Board of Directors; anything herein to the contrary notwithstanding, if requested by the Board, the Executive will immediately resign from any Executive Positions in which the Executive may be serving at such time. The Executive's execution of this Agreement constitutes the Executive's acceptance of his continuing appointment as the Company's President Chief Executive Officer, and Chief Financial Officer. The Executive agrees to perform his duties and discharge his responsibilities in a faithful manner and to the best of his ability and to use all reasonable efforts to promote the interests of the Company. It is understood and agreed by the Executive that the Executive's title and scope of duties and responsibilities may, from time to time, change, but that any such changes shall not constitute a basis for the termination of this Agreement by the Executive. (c) Full Time Efforts. The Executive may not accept other gainful employment except with the prior consent of the Board of Directors of the Company. With the prior consent of the Board of Directors of the Company, the Executive may become a director, trustee or other fiduciary of other corporations, trusts or entities. Except during vacations, holidays and other leave time, the Executive agrees to devote the Executive's full time efforts, professional attention, knowledge, and experience as may be necessary to carry on the Executive's duties pursuant to this agreement and the fulfillment of the Executive's responsibilities in accordance with the Executive Positions. For purposes of clarity, except with respect to subsidiaries of the Company, the Executive may not render executive services to, or serve as a director or officer of any other Company without the prior approval of the Board of Directors. However, nothing in this Section 1 shall be construed as preventing the Executive from pursuing any of the following: (i) investing and managing the Executive's personal assets and investments, so long as such assets and investments are not in businesses which are in direct competition with the Company or otherwise present a conflict of interest with the Company; and (ii) participating in civic, charitable, religious, industry and professional organizations and functions so long as they do not materially interfere with the performance of the Executive's duties hereunder. 1 (d) Travel. The Executive shall be available to travel as the needs of the Company's Business require. (e) Code of Ethics. During the term of this Agreement and at any time during which the Executive is serving in the Executive Positions with the Company the Executive agrees to adhere to the Company's Code of Ethics and Business Conduct, as may be amended from time to time, which the Executive previously signed and provided to the Company. View More