Position/Duties. (a) During the Employment Term (as defined in Section 2
below), below) , the Executive shall serve as a Chief
Operating Executive Officer
and President of the
Company. In Company and all of its subsidiaries. lo this capacity the Executive shall have such duties, authorities and responsibilities commensurate with the duties, authorities and responsibilities of persons in similar capacities in similarly sized companies and such other reasonable duties and responsibilities as the Board of Directors
... of the Company (the "Board") shall designate. The Executive shall report directly to Chairman the Board of Directors. Board. The Executive shall obey the lawful directions of the Board, the Company's Chief Executive Officer and any other senior executive of the Company to whom the Executive reports Board and shall use his diligent efforts to promote the interests of the Company and all of its subsidiaries and to maintain and promote the reputation thereof. (b) During the Employment Term, the Executive shall use his best efforts to perform his duties under this Agreement and shall devote all of his business time, energy and skill in the performance of his bis duties with the Company. The Executive shall not during the Employment Term (except as a representative of the Company and all of its subsidiaries or with consent in writing of the Board) be directly or indirectly engaged or concerned in any other business activity. Notwithstanding the foregoing provisions, the Executive is not prohibited from (1) participating in charitable, civic, educational, professional or community affairs or serving on the board of directors or advisory committees of non-profit entities, entities , and (2) managing his and his family's personal investments, in each case, provided that such activities in the aggregate do not materially interfere with his duties hereunder. 1 2. EMPLOYMENT TERM. Except for earlier termination as provided in Section 6, the Executive's employment under this Agreement shall be for a three years term commencing on the Effective Date and ending on January 1, 2014 (the "Initial Term"). Subject to Section 6, at the end of the Initial Term this Agreement may be extended for additional terms by mutual agreement of the parties ("Additional Term"). The amount of compensation payable to the Executive during any extension of the Initial Term shall be discussed and agreed upon by both parties 30 days before the Agreement termination date. The Initial Term and any Additional Term shall be referred to herein as the "Employment Term."
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Position/Duties. (a) During the Employment Term (as defined in Section 2 below), the Executive shall serve as
a Chief
Operating Financial Officer of the Company. In this capacity the Executive shall have such duties, authorities and responsibilities commensurate with the duties, authorities and responsibilities of persons in similar capacities in similarly sized companies and such other reasonable duties and responsibilities as the Board of Directors of the Company (the "Board") shall designate. The Executive sh
...all report directly to Chairman the Board of Directors. The Executive shall obey the lawful directions of the Board, the Company's Chief Executive Officer and any other senior executive Board of the Company Directors to whom the Executive reports and shall use his diligent efforts to promote the interests of the Company and to maintain and promote the reputation thereof. (b) During the Employment Term, the Executive shall use his best efforts to perform his duties under this Agreement and shall devote all a portion of his business time, energy and skill in the performance of his duties with the Company. The Executive shall not may during the Employment Term (except as a representative of the Company or with consent in writing of the Board) be directly or indirectly engaged or concerned in any other business activity. Notwithstanding the foregoing provisions, the Executive is not prohibited from (1) participating in charitable, civic, educational, professional or community affairs or serving on the board of directors or advisory committees of non-profit entities, and (2) managing his and his family's personal investments, in each case, provided that such activities in the aggregate do not materially interfere with his duties hereunder. 1 2. EMPLOYMENT TERM. Except for earlier termination as provided in Section 6, the Executive's employment under this Agreement shall be for a three years term commencing on the Effective Date and ending on January 1, 2014 (the "Initial Term"). Subject to Section 6, at the end of the Initial Term this Agreement may be extended for additional terms by mutual agreement of the parties ("Additional Term"). The amount of compensation payable to the Executive during any extension of the Initial Term shall be discussed and agreed upon by both parties 30 days before the Agreement termination date. The Initial Term and any Additional Term shall be referred to herein as the "Employment Term."
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