During the Period of Employment the Executive shall also serve and continue to serve, if and when elected and reelected, as an officer or director, or both, of any subsidiary, division or affiliate of the Company.
During the Period of Employment the Executive shall be and continue to be a full participant in the Company's applicable stock option plans and any other compensation plans in which the Executive participates immediately prior to the Effective Date, or equivalent successor plans that may be adopted by the Company, with at least the same reward opportunities to Executive that have heretofore been provided. Nothing in this Agreement shall preclude improvement of reward opportunities in such plans or other plans in accordance with the present practice of the Company.
During the Period of Employment the Executive shall be and continue to be a full participant in the Incentive Stock Option Plan of the Company, the Restricted Stock Plan and in any and all other executive incentive plans in which executives of the Company participate that are in effect on the date hereof and that may hereafter be adopted, including, without limitation, any stock option, stock purchase, stock appreciation right plans, restricted stock plans, or equivalent successor plans that may be adopted by the Company, with at least the same reward opportunities that have heretofore been provided. Nothing in this Agreement shall preclude improvement of reward opportunities in such plans or other plans in accordance with the present practice of the Company.
During the Period of Employment, the Executive shall be entitled to participate in the executive perquisites of the Company as determined by the Board of Directors for key employees, including without limitation, an office, secretarial and clerical services, paid annual Mayo Clinic Visits and income tax and estate planning services.
During the Period of Employment the Employee shall serve as Chief Executive Officer of the Corporation with the duties and responsibilities as provided in the Corporation's By-laws for the Chief Executive Officer, and such other duties as are customary for a chief executive officer.
During the Period. Permittee shall have the right to the exclusive use and enjoyment of the Facilities for a term of sixty (60) days commencing on October 3, 2008 and ending on December 1, 2008, hereinafter referred to as the “Term”. The Term shall be extended upon mutual Agreement of Owner and Permittee and Owner agrees not to unreasonably withhold or delay consent to an extension of the Term.
During the Period of Employment, the Executive shall serve the Corporation as its Chief Executive Officer ("CEO") unless and until it is otherwise determined by the Corporation's Board of Directors (the "Board") that he shall serve in another senior executive capacity. In addition, , it is the intention of the parties that the Executive shall also serve as a member of the initial Board of Directors. For such period of time that the Executive serves as Chief Executive Officer, the Executive shall be the Chief Executive Officer of the Corporation and shall be principally responsible for the general strategic planning, acquisitions, mergers, joint ventures, corporate relations, strategic direction of the business and officers of the Corporation, in each case subject to the directives of the Board. For such period of time that the Executive serves as Chief Executive Officer, the Executive shall have the duties of management usually vested in the offices of President and Chief Executive Officer of a corporation of the size and nature of the Corporation and such other powers and duties as the Board may assign from time to time, provided that such other duties are not inconsistent with his position as Chief Executive Officer. In no event, however, shall his duties as Director of the Board be deemed inconsistent with the Executive's position as Chief Executive Officer for such purposes. For such period of time that the Executive does not serve as Chief Executive Officer, the Executive shall have such duties as may be determined from time to time by the Board, provided that those duties are consistent with the Executive's position as a senior executive officer with the position of Chairman of the Compensation Committee. The Executive shall also be subject to the corporate policies of the Corporation as they are in effect from time to time throughout the Period of Employment (including, without limitation, the Corporation's xxxxxxx xxxxxxx and ethics policies, as they may change from time to time). During the Period of Employment, the Executive shall report solely to the Board.
During the Period you agree
During the Period of Employment, the Executive’s Base Salary shall initially be at the rate of Three Hundred Twenty Thousand Dollars ($320,000) per year (the “Base Salary”). The Executive’s Base Salary shall be paid in accordance with the Company’s standard payroll practice. The Base Salary shall be reviewed by the Company’s Board of Directors or a committee of directors established by the Board of Directors having responsibility for compensation matters (in either case, the “Board”) as soon as practicable after the end of each fiscal year during the Period of Employment. Based on such reviews, the Board may increase, but shall not decrease the Base Salary. Any increase in Base Salary shall not serve to limit or reduce any other obligation of the Company under this Agreement.
During the Period. (a) commencing on the first Höegh MLP Effective Date and ending on the second Höegh MLP Effective Date, the guarantee, undertaking and indemnity of the Additional Corporate Guarantor under Clause 18.1.1 above, shall be limited by reference to the obligations of HLNG Cyprus under the Finance Documents in relation to the financing and the chartering of Vessel 1; and
