Position Contract Clauses (2,943)

Position. (a) During the Part-Time Employment Term, the Employee shall serve as the Company's Chief Executive Officer and Chief Financial Officer. The Employee shall have such duties and authority, commensurate with such senior executive positions and subject to the supervision of the Company's Board of Managers (as defined in the LLC Agreement) (the "Board") which are described in the LLC Agreement consistent with the Plan, including the authority to administer the Company in the manner contemplated by... the LLC Agreement and the Amended Wind-Down Business Plan approved by the Company's Board of Managers. (b) During the Part-Time Employment Term, the Employee shall devote the necessary amount of business time and efforts on a non-exclusive part-time basis (but not less than thirty hours per week) to the performance of the Employee's duties hereunder; provided, that nothing herein shall preclude the Employee from (i) providing services to other businesses, whether as an employee of such business, as a consultant or otherwise, (ii) accepting appointment to or serving on the governing body of any other business, including any board of directors, managers, or trustees of any business, charitable, educational organization, (iii) engaging in other charitable, civic, and professional activities, or (iv) engaging in passive investment activities with other business ventures, provided, further, that such activities in the aggregate do not conflict or interfere in any material respect with the performance of the Employee's duties hereunder. 2 3. Compensation. (a) During the Part-Time Employment Term, the Company shall pay the Employee a salary of $35,000 per month (prorated, on the basis of a 30-day month, as of the date of termination of this Agreement in the case of any such termination) payable in installments in accordance with the Company's payroll practices as in effect from time to time (not less frequently than twice per month), subject to applicable deductions and withholding. The Employee's monthly salary, as in effect from time to time, is hereinafter referred to as the "Salary." (b) The Parties acknowledge that the Employee is entitled to receipt of the Bonus Payments as provided in the Existing Employment Agreement, which the Parties agree shall be paid to Employee on January 2, 2023 or as soon thereafter as reasonably practicable. Employee acknowledges and agrees that she will not receive any discretionary bonus for the period commencing January 1, 2022 through the date of her termination under the Existing Employment Agreement. View More

Position. Your employment will begin on January 4, 2017 (the "Start Date"). Your primary place of work will be the Company's main offices, currently located at 2 Canal Park, Cambridge, MA, 02141.

Position. (a) As of the Effective Date, you will be employed by the Company, on a full-time basis, as its Interim Chief Executive Officer. You agree to perform the duties of your position and such other duties as may reasonably be assigned to you by the board of directors (the "Board") of The Michaels Companies, Inc. ("Parent") from time to time, which will include working with the Lead Director of the Board over the first thirty (30) days following the Effective Date to develop a 100-day plan for your... services as Interim Chief Executive Officer. While employed by the Company, you will devote your full business time and your best efforts, business judgment, skill and knowledge exclusively to the advancement of the business interests of the Company and its Affiliates and to the discharge of your duties and responsibilities for them. You agree that at least four days per week, on average, you will provide your services hereunder at the Company's headquarters (or will be traveling on Company business). For purposes of this Agreement, "Affiliates" means all persons and entities directly or indirectly controlling, controlled by or under common control with the Company, where control may be by management authority, equity interest or otherwise. (b) In addition, and without further compensation, you will be appointed as a member of the Board and agree to serve as a director and/or officer of Parent, the Company, and any of its Affiliates if so elected or appointed from time to time. If your employment with the Company terminates for any reason, then concurrently with such termination, you will be deemed to have resigned from the Board and any officer, trustee, or other positions you may hold with the Company, its Affiliates, or any of their respective related committees, trusts, foundations, or similar entities, in each case unless otherwise agreed in writing by the Company and the Executive. Notwithstanding the foregoing, in the event your employment with the Company terminates by reason of the appointment of a new Chief Executive Officer and you remain in good standing with the Company at such time, you will continue to serve as a member of the Board following such termination. Your compensation for any post-employment service on the Board will be in accordance with the director compensation policy of Parent then in effect. View More

Position. The position of CFO will report directly to the Company's CEO. Your primary duties will be to direct financial operations and reporting, regulatory activities, and other customary support that a CFO provides. By signing this letter, you confirm that you are under no contractual or other legal obligations that would prohibit you from performing your duties with the Company upon your specified start date as outlined below. The anticipated start date is April 29, 2019 (the "Start Date").

Position. Subject to the terms and provisions of this Agreement, the Director hereby agrees to serve as a member of the Board, provided, however, that the Director's continued service on the Board shall be subject to any necessary approval by the Corporation's stockholders as required by applicable law and the Corporation's governing documents.

Position. You will be employed to serve as Chief Medical Officer of the Company. As Chief Medical Officer, you will have the duties, authorities and responsibilities that are customarily associated with such position, and such other duties, authorities and responsibilities the Chief Executive Officer and the Company's Board of Directors (the "Board") designate from time to time that are not inconsistent with such position. You will perform such duties to the Company primarily at the Company's... headquarters in Cambridge, Massachusetts. You will report directly to the Chief Executive Officer. While an employee of the Company, you will devote substantially all of your professional time and efforts to the business of the Company. Any outside professional or other business activity you engage in must be approved in advance by the Board and must not conflict with your duties to the Company. View More

Position. Your title will be Chief Operating Officer and you will report to the Company's Chief Executive Officer (the "CEO"). This is a full-time position. This position will require such travel as is necessary to fulfill your duties under this Letter Agreement.

Position. Your title will continue to be Chief Executive Officer, President and Chairman of the Board. This is a full-time position. In this position, you will be responsible for setting strategic goals for the Company and leading with the management team toward the successful achievement of such goals, and for overseeing all operations and business activities of the Company. You acknowledge that you are not currently involved in and during the duration of your employment with the Company, will not... become involved in any outside activities, including any consulting or other business activity (whether full-time or part-time), that would create a conflict of interest with the Company. By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that prohibit you from performing your duties for the Company. In addition, for the duration of your employment as Chief Executive Officer, you will serve on the Company's Board of Directors. View More

Position. Your title will be President of Research and Development, and you will report to the Company's Chief Executive Officer. This is a full-time position. You will undertake to perform, to the best of your ability, the work related to the Company's business that is reasonably assigned to you by or on behalf of the Company. You will act in accordance with the instructions to be given to you by or on behalf of the Company, unless you believe that they do not comport with the law or applicable... regulations. While you render services to the Company, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with the Company. By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company. View More

Position. In addition to your continued participation on the Company's Board of Directors (the "Board"), your operating role will be as Chief Executive Officer & President and you will report to the Board. This is a full-time position and will require such travel as is necessary to fulfill your duties under this Letter Agreement.