Common use of Engagement of Employee Clause in Contracts

Engagement of Employee. The Company agrees to employ Employee and Employee agrees to accept employment as the President and Chief Executive Officer of the Company, all in accordance with the terms and conditions of this Agreement. Any prior agreements or understandings with respect to Employee’s employment with the Company are canceled as of the date hereof, other than any incentive awards granted to Employee prior to the date hereof, benefit plans in which Employee is eligible for participation and any Company policies to which Employee is subject.

Engagement of Employee. The Company agrees to employ Employee and Employee agrees to accept employment as the Executive Vice President and Chief Executive Financial Officer of the Company, all in accordance with the terms and conditions of this Agreement. Any prior agreements or understandings with respect to Employee’s employment with the Company are canceled as of the date hereof, other than any incentive awards granted to Employee prior to the date hereof, benefit plans in which Employee is eligible for participation and any Company policies to which Employee is subject.