Term and Duties Contract Clauses (126)

Term and Duties. (a) Three Year Contract; Annual Renewal. The term of this Agreement will begin as of the Effective Date and shall continue thereafter for a period of three (3) years. Beginning on the first annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the term of this Agreement shall be extended for a period of one year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in writing at least ninety (90) days prior t...o such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, the disinterested members of the Board have explicitly reviewed and approved the extension and the results thereof shall be included in the minutes of the Board's meeting. On an annual basis prior to the deadline for the notice period referenced above, the Board shall conduct a performance review of the Executive for the purpose of determining whether to provide notice of non-renewal. Reference herein to the term of this Agreement shall refer to both such initial term and such extended terms. Notwithstanding the foregoing, in the event that the Company or the Bank has entered into an agreement to effect a transaction which would be considered a Change in Control as defined below, then the term of this Agreement shall be extended and shall terminate thirty-six (36) months following the date on which the Change in Control occurs. (b) Termination of Employment. Notwithstanding anything contained in this Agreement to the contrary, either Executive or the Bank may terminate Executive's employment with the Bank at any time during the term of this Agreement, subject to the terms and conditions of this Agreement. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; provided, however, that, Executive may serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, on which she currently serves (with the knowledge of the board) or which, in the Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of organizations for which the Executive acts as a director or officer. View More

Term and Duties. (a) Term. The term of Employee's employment hereunder (the "Term") shall begin on November 14, 2011 (the "Start Date") and end on September 2, 2016. Notwithstanding the foregoing, the Term may be earlier terminated by either party in accordance with the terms of Section 4 of this Agreement, and the Term shall automatically expire on the last day of the Term (the "Expiration Date") without notice required by any party to the other. (b) Employment Duties. Employee shall perform such duties as are ...customarily performed by a general counsel of a public company and as assigned from time to time by the Chief Executive Officer of the Company (the "CEO"), and Employee shall report directly to the CEO. (c) Title, Full Time Service and Other Activities. During the Term, Employee shall serve as Senior Vice President, General Counsel of the Company, and, excluding any periods of paid time-off or approved sick leave to which Employee is entitled, Employee shall devote his full working time, energy and attention to the performance of his duties and responsibilities hereunder and shall faithfully and diligently endeavor to promote the business and best interests of the Company. During the Term, Employee may not, without the prior written consent of the CEO, directly or indirectly, operate, participate in the management, operations or control of, or act as an employee, officer, consultant, partner, member, agent or representative of, any type of business or service other than as an employee and member of the Company. It shall not, however, be a violation of the foregoing provisions of this Section 1(c) for Employee to (i) serve as an officer or director or otherwise participate in non-profit, educational, social welfare, religious and civic organizations or (ii) manage his personal, financial and legal affairs, in each case so long as any such activities do not unreasonably interfere with the performance of his duties and responsibilities to the Company. (d) Location. During the Term, Employee shall be based primarily at the Company's headquarters in Fairfield County, Connecticut, with such travel as the performance of his duties to the Company may require. View More

Term and Duties. (a)The term of this Agreement shall commence as of the Effective Date and shall continue until the fifth anniversary of the Effective Date (the "Initial Term"). The Agreement will renew automatically for additional, successive twelve (12) month periods (each, a "Renewal Term", and collectively with the Initial Term, the "Term") unless the Executive, on the one hand, or the Bank and the Holding Company, on the other hand, delivers notice of intent not to renew at least ninety (90) days prior to t...he applicable renewal date. The Term may be terminated in accordance with Sections 4 and 5. (b)During the period of his employment hereunder, except for periods of absence occasioned by illness, vacation periods, and approved leaves of absence, the Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including the operation and management of the Holding Company and the Bank; provided, however, that, from time to time, the Executive may, subject to the Executive's obligations hereunder (including Section 6) and contingent upon the prior written approval of the Board of Directors of the Holding Company, such approval not to be unreasonably withheld or delayed, serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in, companies or organizations, which will not materially affect the performance of the Executive's duties pursuant to this Agreement; provided that the activities set forth on Schedule A shall be deemed to have been approved by the Board of Directors of the Holding Company. The duties of the Executive shall be as directed by the Boards of Directors of the Holding Company and the Bank including, but not limited to, the direction of activities of all other officers and employees of the Holding Company and the Bank. View More

Term and Duties. (a) Three Year Contract. The term of this Agreement shall begin as of the Effective Date and shall continue thereafter for a period of three years ("Employment Period"). This Agreement may be extended further at the discretion of the Board of Directors of the Employer (the "Board"). Notwithstanding anything herein to the contrary, in the event that the Company or Bank enters into a definitive agreement ("Change in Control Agreement") to engage in a transaction that would be considered a Change i...n Control (as defined herein) or a Change in Control otherwise occurs, this Agreement shall automatically renew and shall remain in effect for a period of three (3) years following the effective time of the Change in Control; except in the event that the Change in Control Agreement is terminated or the Change in Control does not occur, the term of this Agreement will not so renew. (b) Continued Employment Following Termination of Employment Period. Nothing in this Agreement shall mandate or prohibit a continuation of Executive's employment following the expiration of the Employment Period upon such terms and conditions as the Employer and Executive may mutually agree. (c) Duties; Membership on Other Boards. During the Employment Period, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence approved by the President and Chief Executive Officer ("CEO"), Executive shall devote substantially all his business time, attention, skill, and efforts to the faithful performance of his duties hereunder including activities and services related to the organization, operation and management of the Employer; provided, however, that, with the approval of the CEO, Executive may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in, business companies or business organizations, which, in the CEO's judgment, will not present any conflict of interest with the Employer, or materially affect the performance of Executive's duties pursuant to this Agreement it being understood that membership in and service on boards or committees of social, religious, charitable or similar organizations does not require CEO approval pursuant to this Section 2(c). For purposes of this Section 2(c), CEO approval shall be deemed to have been granted as to service with any such business company or organization that Executive was serving as of the date of this Agreement. View More

Term and Duties. The parties agree that this Agreement shall be for a term of thirty-six (36) months ("Termination Date"), subject to any severance payment as set forth in Section 7, hereunder. After the Termination Date, either party may terminate this Agreement by providing the other with thirty (30) days written notice of such termination. The Company hereby employs the Executive as President and Chief Executive Officer as of the Effective Date and he agrees to enter into and remain in the employ of the Compa...ny until this Agreement is terminated. The Executive shall faithfully and diligently perform all professional duties and acts as President and Chief Executive Officer as may be reasonably requested of him by the Company or its officers with the function of a President and Chief Executive Officer of a similar biomedical company. View More

Term and Duties. The Employer hereby shall employ Employee as its Vice President and General Counsel continuing from the Effective Date until June 30, 2015, unless sooner terminated as herein provided or extended by mutual agreement of the parties (the "Employment Term"), with such duties customary to such position as Employer may reasonably designate during the Employment Term. The Employee shall also serve as an officer of those other subsidiaries of Rhino Resource Partners LP (NYSE: RNO) that Employer designa...tes. The Employee agrees to devote all of her business time and her best efforts to the business of Employer as may be necessary to perform her duties in accordance with the policies and budgets established from time to time by Employer. During the Employment Term, the Employee will not have any other paid employment. Employee shall be bound by, and agree to comply with, all policies, procedures, and employment conditions of Employer in effect from time to time applicable to its employees. View More

Term and Duties. (a) Term of Employment. The term of this Agreement shall be for a period of thirty-six (36) months from the Effective Date and include any extensions thereto. During each calendar year after the Effective Date, the Board shall review the performance of Executive to determine whether or not any adjustments need to be made to the level of compensation being paid to Executive or the term of this Agreement. (b) Duties. During the period of his employment hereunder and except for illnesses, reasonabl...e vacation periods and reasonable leaves of absence, Executive shall devote his business time, attention, skill and efforts to the faithful performance of his duties hereunder; provided, however, that with the approval of the Board, from time to time, Executive may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in companies or organizations which, in the Board's judgment, will not present any material conflict of interest with the Bank or any of its subsidiaries or affiliates or divisions, unfavorably affect the performance of Executive's duties pursuant to this Agreement, or violate any applicable statute or regulation. View More