During the Employment Term. (a) The Executive will perform duties assigned by the Company’s Chief Executive Officer, or the Company’s Board of Directors (the “Board”), from time to time; provided that the Executive shall not be assigned tasks inconsistent with those of Executive Vice President and Chief Operating Officer.
During the Employment Term. (a) The Executive's base compensation shall be at the rate of $200,000.00 per year, payable in regular installments in accordance with the Company's practice for its executives, less applicable withholding for income and employment taxes as required by law and other deductions as to which the Executive shall agree. Such base compensation shall be subject to increases as and when determined by the Board in its sole discretion.
During the Employment Term. (a) Executive shall be employed as Chief Executive Officer of the Company. In addition, effective as of the Effective Date, Executive shall be elected by the Board of Directors of the Company (the “Board”) as a director of the Company and as Chairman of the Board. For as long as the Executive is employed by the Company as the Chief Executive Officer, the Company shall nominate the Executive for re-election to the Board. At the time of his termination of employment with the Company for any reason, the Executive shall resign from the Board if requested to do so by the Company. Executive shall not receive any compensation in addition to the compensation described in Sections 3 and 4 of this Agreement for serving as a director of the Company and Chairman of the Board.
During the Employment Term. Limited shall pay Executive a base salary at the annual rate of (pound)433,000, payable in regular monthly installments in accordance with the Company's usual payment practiceS, but no later than the last day of each month. The Board shall annually review Executive's base salary and Executive shall be entitled to such increases (but no decreases), if any, as may be determined in the sole discretion of the Board. Executive's annual base salary, as in effect from time to time, is hereinafter referred to as the "Base Salary."
During the Employment Term. (a) Executive shall be employed as Co-Chief Executive Officer of the Company and shall report directly to the Board of Directors of the Company (the “Board”). Executive shall perform the duties, undertake the responsibilities and exercise the authority customarily performed, undertaken and exercised by persons situated in similar executive capacities. Unless otherwise agreed by Executive, Executive’s principal place of employment shall be at the Company’s corporate headquarters in Greenwich, Connecticut.
During the Employment Term. (a) Executive shall be employed as Chief Executive Officer of the Company. Executive shall report directly to the Board in his capacity as Chief Executive Officer of the Company. Executive shall perform the duties, undertake the responsibilities and exercise the authority customarily performed, undertaken and exercised by persons situated in similar executive capacities.
During the Employment Term the Company shall pay to the Executive a base salary at the annual rate of not less than Two Hundred Eighty-Five Thousand Dollars ($285,000). Base salary shall be payable in accordance with the usual payroll practices of the Company. Executive's base salary shall be subject to annual review by the CEO and may be increased, but not decreased, from time to time at the discretion of the CEO. The base salary, as determined as aforesaid from time to time, shall constitute "Base Salary" for purposes of this Agreement.
During the Employment Term the Executive ----------- shall devote his full time to the business of the Company, shall faithfully serve the Company, shall in all respects conform to and comply with the lawful and reasonable directions and instructions given to him by the Board of Directors in accordance with the terms of this Agreement, shall use his best efforts to promote and serve the interests of the Company and shall not engage in any other business activity, whether or not such activity shall be engaged in for pecuniary profit, except that the Executive may (i) participate in the activities of professional trade organizations related to the business of the Company and (ii) engage in personal investing activities, provided that activities set forth in these clauses (i) and (ii), either singly or in the aggregate, do not interfere in any material respect with the services to be provided by the Executive hereunder.
During the Employment Term. (a) The Executive shall be entitled to receive all health, medical, insurance and pension benefits provided by the Company to any of its senior executives and to all other fringe benefits and benefit plans provided by the Company to its executives as a group. (b) The Company shall reimburse the Executive for all reasonable and necessary expenses (including, without limitation, entertainment expenses and automobile expenses) incurred by the Executive in connection with the performance of the Executive's duties to the Company (it is being agreed that business-class airfare travel is a reasonable expense for transcontinental and intercontinental travel), upon submission of receipts and/or vouchers by the Executive in accordance with the Company's policies and procedures. (c) The Company shall pay for the lease of an automobile to be used for business purposes; provided that the costs of the lease do not exceed $650 per month. The Company shall also pay for the insurance and other operating expenses associated with the business use of such automobile. (d) The Executive shall be entitled to four (4) weeks of vacation time annually which shall be taken at times selected by the Executive which are consistent with the proper performance of the Executive's duties and responsibilities to the Company. The timing of the Executive's utilization of vacation time shall be subject to the reasonable prior approval of the Company's Chief