Common use of Duties and Extent of Service Clause in Contracts

Duties and Extent of Service. As , you will report to and you will have responsibility for performing those duties as are customary for, and are consistent with, such position, as well as those duties that may be designated to you from time to time. As you know, your employment will be contingent upon your agreeing to abide by the rules, regulations, instructions, personnel practices, and policies of the Company and any changes therein that the Company may adopt from time to time, and your execution of the Company’s standard Nondisclosure, Developments, and Non-Competition Agreement. COMPENSATION AND BENEFITS Your salary will be $ per semi-monthly pay period, minus applicable taxes and withholdings. Such salary may be adjusted from time to time in accordance with normal business practice and in the sole discretion of the Company. You will also be eligible for a performance-based annual bonus opportunity of up to % of your annualized salary. You will be entitled to three weeks paid vacation annually. You will also be entitled to participate in such employee benefit plans and fringe benefits as may be offered or made available by the Company to its employees. STOCK OPTIONS At the first meeting of the Company’s Board of Directors following your Start Date, it is my intention that the Company will recommend to the Board of Directors that you receive a common stock option grant of shares. This offer is contingent upon approval by the Board of Directors of your option grant specifically. Promptly after the Grant Date, the Company and you will execute and deliver to each other the Company’s then standard form of stock option agreement, evidencing the Option and the terms thereof. As you know, the Option shall be subject to, and governed by, the terms and provisions of the Plan and your stock option agreement. NONDISCLOSURE, DEVELOPMENTS AND NON-COMPETITION As you know, prior to commencing, and as a condition to your employment with the Company, all employees are required to agree to sign a copy of the Company’s standard Nondisclosure, Developments, and Non-Competition Agreement. The Company will ask you to sign this agreement after you have signed and returned this letter and prior to or on your Start Date. At-Will Employment This letter shall not be construed as an agreement, either expressed or implied, to employ you for any stated term, and shall in no way alter the Company’s policy of employment at-will, under which both you and the Company remain free to terminate the employment relationship, with or without cause, at any time, with or without notice. Similarly, nothing in this letter shall be construed as an agreement, either express or implied, to pay you any compensation or grant you any benefit beyond the end of your employment with the Company.

Appears in 1 contract

Samples: Stockholders’ Agreement

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Duties and Extent of Service. As Chief Financial Officer of the Company, you will report directly to the President and Chief Executive Officer of the Company (the “Supervising Officer”) and you will have responsibility for performing those duties as are customary for, and are consistent with, such positionyour position with the Company, as well as those duties as the Supervising Officer or the Board of Directors of the Company (the “Board”) may designate. Your first date of employment shall be the date of this Agreement. Your primary working location shall initially be your home; provided that may if the Company were to establish an office no more than a 50-mile radius from the address set forth above, the Company shall be designated entitled to designate such location as your primary working location. Subject to the terms of this Agreement, the Company reserves the right to reasonably require you to perform your duties at places other than your primary working location from time to timetime and to require business travel. As you know, your employment will be contingent upon your agreeing You agree to abide by the rules, regulations, instructions, personnel practices, practices and policies of the Company and any changes therein that the Company may adopt from time to time, and your execution of be adopted by the Company’s standard Nondisclosure. Except for vacations and absences due to temporary illness, Developments, and Non-Competition Agreement. COMPENSATION AND BENEFITS Your salary you will be $ per semiexpected to devote your full-monthly pay period, minus applicable taxes time business efforts to the business and withholdings. Such salary may be adjusted from time to time in accordance with normal business practice and in the sole discretion affairs of the Company. You will also be eligible for a performance-based annual bonus opportunity of up Notwithstanding the foregoing, you may participate in outside charitable, civic, educational, professional, community or industry activities to % the extent such activities do not individually or in the aggregate materially interfere with the performance of your annualized salary. You will be entitled duties to three weeks paid vacation annually. You will also be entitled to participate in such employee benefit plans and fringe benefits as may be offered or made available by the Company to its employees. STOCK OPTIONS At the first meeting as provided in this Agreement or create an actual or potential conflict of interest with the Company’s Board business; provided, further, that your service on any outside boards (whether for profit or non-profit) shall require the prior consent of Directors following your Start Date, it is my intention that the Company will recommend to the Board of Directors that you receive a common stock option grant of sharesSupervising Officer. This offer is contingent upon approval by the Board of Directors Any of your option grant specifically. Promptly after the Grant Date, the Company outside activities listed on Schedule 1 attached hereto shall also be deemed approved for purposes of this Agreement and you will execute and deliver to each other the Company’s then standard form of stock option agreement, evidencing the Option and the terms thereof. As you know, the Option shall be subject to, and governed by, the terms and provisions of the Plan and your stock option agreement. NONDISCLOSURE, DEVELOPMENTS AND NON-COMPETITION As you know, prior to commencing, and as a condition to your employment with the Company, all employees are required to agree to sign a copy of the Company’s standard Nondisclosure, Developments, and Non-Competition Agreement. The Company will ask you to sign this agreement after you have signed and returned this letter and prior to or on your Start Date. At-Will Employment This letter shall not be construed as an agreement, either expressed or implied, to employ you for any stated term, and shall in no way alter the Company’s policy a violation of employment at-will, under which both you and the Company remain free to terminate the employment relationship, with or without cause, at any time, with or without notice. Similarly, nothing your obligations in this letter shall be construed as an agreement, either express or implied, to pay you any compensation or grant you any benefit beyond the end of your employment with the Companyparagraph.

Appears in 1 contract

Samples: Pardes Biosciences, Inc.

Duties and Extent of Service. As Chief Business and Strategy Officer of the Company, you will report directly to the President and Chief Executive Officer of the Company (the “Supervising Officer”) and you will have responsibility for performing those duties as are customary for, and are consistent with, such positionyour position with the Company, as well as those duties as the Supervising Officer or the Board of Directors of the Company (the “Board”) may designate which are consistent with such position. Your first date of employment shall be November 22, 2021 (“Hire Date”), which initially shall be on a part-time basis (50% time) and converting to a full-time basis effective as of December 1, 2021. Your primary working location shall initially be your home; provided that may if the Company were to establish an office no more than a 50-mile radius from the address set forth above, the Company shall be designated entitled to designate such location as your primary working location. Subject to the terms of this Agreement, the Company reserves the right to reasonably require you to perform your duties at places other than your primary working location from time to timetime and to require reasonable business travel. As you know, your employment will be contingent upon your agreeing You agree to abide by the rules, regulations, instructions, personnel practices, practices and policies of the Company and any changes therein that may be adopted by the Company may adopt from time (each to timethe extent provided to or made available to you in writing). Except for vacations and absences due to temporary illness, and your execution of the Company’s standard Nondisclosure, Developments, and Non-Competition Agreement. COMPENSATION AND BENEFITS Your salary you will be $ per semiexpected to devote your full-monthly pay period, minus applicable taxes time business efforts to the business and withholdings. Such salary may be adjusted from time to time in accordance with normal business practice and in the sole discretion affairs of the Company. You will also be eligible for a performance-based annual bonus opportunity of up Notwithstanding the foregoing, you may participate in outside charitable, civic, educational, professional, community or industry activities to % the extent such activities do not individually or in the aggregate materially interfere with the performance of your annualized salary. You will be entitled duties to three weeks paid vacation annually. You will also be entitled to participate in such employee benefit plans and fringe benefits as may be offered or made available by the Company to its employees. STOCK OPTIONS At the first meeting as provided in this Agreement or create an actual or potential conflict of interest with the Company’s Board of Directors following business; provided, further, that your Start Date, it is my intention that service on any outside boards (whether for profit or non-profit) shall require the Company will recommend to the Board of Directors that you receive a common stock option grant of shares. This offer is contingent upon approval by the Board of Directors of your option grant specifically. Promptly after the Grant Date, the Company and you will execute and deliver to each other the Company’s then standard form of stock option agreement, evidencing the Option and the terms thereof. As you know, the Option shall be subject to, and governed by, the terms and provisions prior written consent of the Plan and your stock option agreement. NONDISCLOSURESupervising Officer, DEVELOPMENTS AND NON-COMPETITION As you know, prior to commencing, and as a condition to your employment with the Company, all employees are required to agree to sign a copy of the Company’s standard Nondisclosure, Developments, and Non-Competition Agreementwhich shall not be unreasonably withheld. The Company will ask acknowledges and agrees that, without the necessity of further action, you to sign this agreement after you have signed and returned this letter and prior to or on your Start Date. At-Will Employment This letter shall not be construed as an agreement, either expressed or implied, to employ you for any stated term, and shall in no way alter the Company’s policy of employment at-will, under which both you and the Company remain free to terminate the employment relationship, with or without cause, at any time, with or without notice. Similarly, nothing in this letter shall be construed permitted to continue to serve as an agreementa Director at SCYNEXIS, either express or impliedInc. and continue to perform consulting services for Lyndra Therapeutics through December 31, to pay you any compensation or grant you any benefit beyond the end of your employment with the Company.2021. Xxxxxxxx Xxxxxxxx November 22, 2021

Appears in 1 contract

Samples: Pardes Biosciences, Inc.

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Duties and Extent of Service. As Chief Scientific Officer of the Company, you will report directly to the President and Chief Executive Officer of the Company (the “Supervising Officer”) and you will have responsibility for performing those duties as are customary for, and are consistent with, such positionyour position with the Company, as well as those duties as the Supervising Officer or the Board of Directors of the Company (the “Board”) may designate. Your first date of employment was April 6, 2020. Your primary working location shall initially be your home; provided that may if the Company were to establish an office no more than a 50 mile radius from the address set forth above, the Company shall be designated entitled to designate such location as your primary working location. Subject to the terms of this Agreement, the Company reserves the right to reasonably require you to perform your duties at places other than your primary working location from time to timetime and to require business travel. As you know, your employment will be contingent upon your agreeing You agree to abide by the rules, regulations, instructions, personnel practices, practices and policies of the Company and any changes therein that the Company may adopt from time to time, and your execution of be adopted by the Company’s standard Nondisclosure. Except for vacations and absences due to temporary illness, Developments, and Non-Competition Agreement. COMPENSATION AND BENEFITS Your salary you will be $ per semiexpected to devote your full-monthly pay period, minus applicable taxes time business efforts to the business and withholdings. Such salary may be adjusted from time to time in accordance with normal business practice and in the sole discretion affairs of the Company. You will also be eligible for a performance-based annual bonus opportunity of up Notwithstanding the foregoing, you may participate in outside charitable, civic, educational, professional, community or industry activities to % the extent such activities do not individually or in the aggregate materially interfere with the performance of your annualized salary. You will be entitled duties to three weeks paid vacation annually. You will also be entitled to participate in such employee benefit plans and fringe benefits as may be offered or made available by the Company to its employees. STOCK OPTIONS At the first meeting as provided in this Agreement or create an actual or potential conflict of interest with the Company’s Board business; provided, further, that your service on any outside boards (whether for profit or non-profit) shall require the prior consent of Directors following your Start Date, it is my intention that the Company will recommend to the Board of Directors that you receive a common stock option grant of sharesSupervising Officer. This offer is contingent upon approval by the Board of Directors Any of your option grant specifically. Promptly after the Grant Date, the Company outside activities listed on Schedule 1 attached hereto shall also be deemed approved for purposes of this Agreement and you will execute and deliver to each other the Company’s then standard form of stock option agreement, evidencing the Option and the terms thereof. As you know, the Option shall be subject to, and governed by, the terms and provisions of the Plan and your stock option agreement. NONDISCLOSURE, DEVELOPMENTS AND NON-COMPETITION As you know, prior to commencing, and as a condition to your employment with the Company, all employees are required to agree to sign a copy of the Company’s standard Nondisclosure, Developments, and Non-Competition Agreement. The Company will ask you to sign this agreement after you have signed and returned this letter and prior to or on your Start Date. At-Will Employment This letter shall not be construed as an agreement, either expressed or implied, to employ you for any stated term, and shall in no way alter the Company’s policy a violation of employment at-will, under which both you and the Company remain free to terminate the employment relationship, with or without cause, at any time, with or without notice. Similarly, nothing your obligations in this letter shall be construed as an agreement, either express or implied, to pay you any compensation or grant you any benefit beyond the end of your employment with the Companyparagraph.

Appears in 1 contract

Samples: Pardes Biosciences, Inc.

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