Position and Responsibilities Clause Example with 4 Variations from Business Contracts

Position and Responsibilities. (a) Position. During the period of employment established by Section 2(a) of this Agreement (the "Employment Period"), Executive agrees to serve, if appointed to serve, as the President of the Commercial Real Estate Division of the Bank. (b) Duties and Responsibilities. Executive shall have and exercise the duties, responsibilities, privileges, powers and authority commensurate with such position as the Bank has assigned and may hereafter assign to Executive. (c) Faithful Performance. Except for... periods of paid time off taken in accordance with Section 3(f) hereof or following a Short-Term Disability Determination or a Long-Term Disability Determination made in accordance with Section 4(b) hereof, or for services performed for the Bank's Subsidiaries (as defined below). Executive shall devote substantially all of his business time, attention, skill and efforts during the Employment Period to the faithful performance of his duties hereunder, and shall not engage in any business or activity that interferes with the performance of such duties or conflicts with the business, affairs or interests of the Bank or any Subsidiary; provided that, notwithstanding the foregoing, Executive may: (1) hold directorships, offices or other positions in one or more other organizations to the extent permitted by the Bank's Professional Responsibility Policy, as amended from time to time, or as otherwise approved by the Bank; and (2) engage in the occasional practice of commercial real estate brokerage or management provided that the same does not interfere with Executive's obligation to devote substantially all of his business time, attention, skill and efforts to the faithful performance of his duties under this Agreement. (d) Performance Standards. During the Employment Period, Executive shall perform his duties in accordance with the policies and procedures of the Bank, as amended from time to time, such reasonable performance standards as the Bank has established or may hereafter establish in the exercise of good faith business judgment, including those set forth in the Bank's Personnel Manual, as amended from time to time, and such Business Plans as the Bank has established or may hereafter establish. 1 2. TERM OF EMPLOYMENT. (a) Term. The Employment Period shall commence as of the Effective Date and shall thereafter continue for a period of thirty-six (36) months (the "Term") unless extended as provided herein. Unless the Agreement is terminated by the Executive in accordance with Section 5 of this Agreement, by reason of the Executive's death, or by the Bank in accordance with the provisions of Section 4 of this Agreement, the Term will extend automatically for an additional twelve (12) months on each anniversary of the Effective Date ("the Renewal Date"), so that the Term will be thirty-six (36) months. All references herein to the Employment Period shall mean, for all purposes of this Agreement, Executive's Employment Period as initially established by, and as may subsequently be extended pursuant to, this Section 2(a). (b) Annual Review. Unless terminated by the Executive in accordance with Section 5 of this Agreement, by reason of the Executive's death, or by the Bank in accordance with the provisions of Section 4 of this Agreement, the Board or the Board's Human Resources Committee (the "Human Resources Committee") shall review this Agreement annually prior to each Renewal Date. A decision by or the failure of the Board or the Human Resources Committee to increase Executive's Base Salary shall not constitute a breach of this Agreement or a "Good Reason" under Section 5(b) hereof. All decisions and actions of the Human Resources Committee pursuant to this Section 2(b) shall be subject to ratification by the Board only to the extent, if any, that ratification may be required by applicable laws and regulations. View More