DUTIES OF THE OFFICE. Mr. Xxxxxxxx xxxeby commits to the Corporation to carry out the duties set forth in the Bylaws and Charter for his position as President and/or Chairman, and agrees to discharge the same faithfully and to the best of his ability. The said Gordxx X. Xxxxxxxx xxxll devote his full business time and attention to the business and affairs of the Corporation, and shall use his best efforts to promote the best interest of the Corporation. He shall hold such office or offices in a corporation or corporations, or any subsidiary corporation, to which he may be elected and appointed by the Board of Directors of Mercantile Bank, subject to such reasonable requirements and allowances as the said Gordxx X. Xxxxxxxx xxxll request, and shall perform the duties thereof to the best of his ability. The said Gordxx X. Xxxxxxxx xxxll perform such other reasonable duties as shall from time to time be prescribed by the Directors of the Corporation. The Corporation understands that the said Gordxx X. Xxxxxxxx xxx business interests outside of the Corporation, and there is no intent by this Agreement to restrict those business interests or to prohibit the said Gordxx X. Xxxxxxxx xxxm holding office in other corporations or owning interest in other corporations, so long as said corporations do not have an interest which substantially conflicts with the interest of Mercantile Bank, and so long as the carrying out of the duties of such other offices do not- by the requirements of time, talent, or knowledge interfere in any way with the said Gordxx X. Xxxxxxxx xxxly performing the duties assigned to him by the Board of Directors of Mercantile Bank.
DUTIES OF THE OFFICE. The Executive hereby commits to the Banks to carry out, to the best of his ability, the duties set forth in the respective Bylaws and Charter of each corporation for his position as CEO, Chairman, or such office or offices in a corporation or corporations, or any subsidiary corporation, to which he may be elected and appointed by the respective Boards, subject to such reasonable requirements and allowances as the Executive shall request. The Executive shall perform such other reasonable duties as shall from time to time be prescribed by the Directors of the Banks. The Executive shall devote his time and attention to the business and affairs of the Banks, and shall use his best efforts to promote the best interest of the Banks. The Banks understand that the Executive has business interests outside of the Banks, and there is no intent by this Agreement to restrict those business interests or to prohibit the Executive from holding office in other corporations or owning interest in other corporations, so long as said corporations do not have an interest which substantially conflicts with the interests of the Banks, and so long as the carrying out of the duties of such other offices do not by the requirements of time, talent, or knowledge interfere in any way with the Executive's ability to fully perform the duties assigned to him by the Boards.
DUTIES OF THE OFFICE. The title of an office is often taken from some characteristic duty belonging to it. Thus the title President is taken from the act of presiding; Secretary from the act of writing; Auditor (hearer) from the act of hearing financial reports. In such cases, the information derived from the title is generally meagre. In some instances, however, offices newly created adopt the titles of previously existing offices which are similar to them; and in such instances the titles carry with them all of their previous significance, except so far as this is modified by the nature of the new office. Thus the term President, which first meant one who presides over an assembly and enforces order in its proceedings, when transferred to the chief officer of a college, and to the chief magistrate of the United States, carried with it the chief part of its previously acquired meaning. Now, it so happens that all the titles by which the Elder of a church is known were adopted from previously existing offices, and brought with them into their new application much of their former significance.
