Term of Employment Contract Clauses (2,086)

Term of Employment. During the Term, you agree to be a full-time employee of the Company serving in the position of Vice President-Chief Financial Officer, to devote substantially all of your working time and attention to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities associated with your position, to use your best efforts to perform faithfully and efficiently such responsibilities. In addition, you agree to serve in such other capacities or offices to which y...ou may be assigned, appointed or elected from time to time by the Board. Nothing herein shall prohibit you from devoting your time to civic and community activities or managing personal investments, as long as the foregoing do not interfere with the performance of your duties hereunder. View More

Term of Employment. Corporation agrees to employ Employee and Employee agrees to be employed in the capacity of Chief Financial Officer for a term of three (3) years effective January 1, 2019 and terminating December 31, 2021. Thereafter, the term of this Employment Agreement shall be automatically renewed and extended for successive one-year periods except that either party may, at least ninety (90) days prior to such expiration date or any anniversary thereof, give written notice to the other party electing that ...this Employment Agreement not be renewed or extended, in which event this Employment Agreement shall expire as of the expiration date or anniversary date, respectively. In the event of a merger of the Corporation, sale or change of control, defined as voting control (under any such circumstance referred to as a "Change of Control"), Employee shall have the right to extend and renew this Employment Agreement so that the expiration date will be three years from the date of the Change of Control. Alternatively, Employee shall have the right to terminate this Agreement and shall be entitled to receive one year's base salary in accordance with paragraph 1c below. Any combination of MONMOUTH REAL ESTATE INVESTMENT CORPORATION and UMH PROPERTIES, INC. shall not be considered a Change of Control. If there is a termination of employment by the Corporation for any reason, either involuntary or voluntary, including the death of the Employee, other than a termination for cause as defined herein, Employee shall be entitled to the greater of the base salary due under the remaining term of this Agreement or one year's base salary at the date of termination, paid monthly over the remaining term or life of this Agreement. Provided, however, that in the event of a termination in connection with a Change of Control, said termination shall not be considered for cause. If employment is terminated or not renewed by the Corporation, and Employee is a Director of the Corporation, Employee will be presumed to have resigned the directorship. Provided, however, that the terms of this paragraph shall not apply in the event of a termination in connection with a Change of Control. In addition to any other compensation afforded herein, provided that Employee is actively employed by the Corporation as of the consummation of a Change of Control, Employee shall be entitled to a transaction bonus consistent with the terms of the Corporation's Executive Management Transaction Bonus Plan, which Plan shall be approved by the Corporation's Compensation Committee. View More

Term of Employment. The Company agrees to continue Employee's employment, and Employee agrees to remain in the employ of the Company, pursuant to the terms of this Agreement from the Effective Date through February 29, 2016 (the "Initial Term"), unless Employee's employment is earlier terminated or modified pursuant to the provisions of this Agreement. Upon expiration of the Initial Term, this Agreement will be automatically extended for additional one-year terms unless Employee or the Company shall, upon 30 days w...ritten notice to the other, elect not to extend this Agreement for an additional one-year term. If this agreement is terminated pursuant to this Section 4, no matter which Party sends the written notice, it shall be considered to be a Voluntary Termination, as defined in Section 5. View More

Term of Employment. Unless the Executive's employment shall sooner terminate pursuant to Section 4 of this Agreement, the Employers shall employ the Executive on a month-to-month basis, commencing on June 9, 2019, (the "Effective Date") and continuing on the first day of each successive month, unless the Executive or either of the Employers, as the case may be, at least fifteen (15) calendar days prior to the end of the applicable month, provides written notice to the other of its or his intention not to renew such... employment. The period during which the Executive is employed pursuant to this Agreement shall be referred to as the "Employment Period." View More

Term of Employment. The Company hereby agrees to employ Executive, and Executive hereby accepts employment with the Company, upon the terms set forth in this Agreement, for the period commencing on February 13th, 2018 or such date as may be otherwise agreed upon with the Company (the "Commencement Date") and ending on the one year anniversary thereof, unless sooner terminated in accordance with the provisions of Section 4 (such period, the "Initial Term"); provided, however, that on each anniversary of the Commence...ment Date, the term of employment under this Agreement shall be automatically extended for an additional one-year period (each such period, a "Subsequent Term") unless terminated sooner pursuant to Section 4 or if, at least thirty (30) days prior to the applicable anniversary date, either Executive or the Company provides written notice to the other party electing not to extend. The Initial Term together with each Subsequent Term, if any, are referred to hereinafter as the "Agreement Term." View More

Term of Employment. The Company hereby employs Employee as its Chief Executive Officer to perform the duties described in Section 3 and Employee hereby accepts such employment by the Company, on the terms and conditions herein contained and subject to the policies and procedures adopted by the Company from time to time, for a term of one year commencing on August 10th, 2019 (the "Term").

Term of Employment. 1.1 The Executive shall commence employment with the Company at the Effective Time (the "Employment Date"). 1.2 Commencing on the Employment Date, the Company agrees to employ the Executive, and the Executive agrees to accept such continued employment and serve the Company, in such capacities, with such duties and authority, for such period, at such level of compensation and with such benefits, and upon such other terms and subject to such other conditions, as are hereinafter set forth. The term... of Executive's employment shall commence on the Employment Date, and end on the second (2nd) anniversary thereof, subject to earlier termination or further renewal as provided in this Agreement (the "Term of Employment"). 1.3 Renewal. Executive's Term of Employment shall automatically renew for subsequent one (1) year periods, subject to the terms of this Agreement, unless either party gives written notice 90 days or more prior to the expiration of the then existing Term of Employment of Executive's or the Company's decision not to renew. A decision by the Company not to renew other than as a result of Executive's death or Disability (as defined below), and other than in circumstances which would give rise to a termination for Cause (as defined below), shall be treated as a Termination by the Company without Cause and so governed by Paragraph 6.3.5 below. A decision by the Executive not to renew, other than for Good Reason (as defined below), shall be treated as a Voluntary Resignation, and so governed by the provisions of Paragraph 6.3.4 below. 1.4 Effectiveness. The effectiveness of this Agreement is expressly subject to, and conditioned upon, the occurrence of the Transaction. This Agreement shall automatically terminate and be null and void ab initio if the Merger Agreement is terminated in accordance with its terms, or your employment with the Target terminates for any reason prior to the Employment Date, and none of the Company, the Executive, nor any other person or entity shall have any liability hereunder if the Effective Time does not occur for any reason. View More

Term of Employment. This Agreement shall become effective on October 28, 2019. The term of employment shall be three years, unless this Agreement is terminated prior to the expiration of such three-year period (the "Term").

Term of Employment. The Employee shall be employed by the Company for a period commencing on December 2, 2019, (the "Effective Date"), and ending on December 31, 2023 (the "Term") or such earlier time as the Employee's employment may be terminated pursuant to Section 7 of this Agreement. Following completion of the Term, employment shall automatically renew for successive one-year periods (each such renewal, a "Renewal Term"), also subject to termination of employment pursuant to Section 7, unless either party shal...l give written notice to the other not less than 30 days prior to the end of the Term or any Renewal Term, as the case may be, of his or its intent not to renew. View More

Term of Employment. During the Term, Executive agrees to be a full-time employee of the Company serving in the position of Senior Vice President and Chief Financial Officer of the Company. Executive agrees to devote substantially all of Executive's working time and attention to the business and affairs of the Company, to discharge the responsibilities associated with Executive's position with the Company, and to use Executive's best efforts to perform faithfully and efficiently such responsibilities. Nothing herein... shall prohibit Executive from devoting Executive's time to civic and community activities, serving as a member of the board of directors of other corporations that do not compete with the Company, or managing personal investments, as long as the foregoing do not interfere with the performance of Executive's duties hereunder or violate the terms of the Company's Code of Business Conduct and Ethics, the Company's Corporate Governance Guidelines, or other policies applicable to the Company's executives generally, as those policies may be amended from time to time by the Company. View More