Executive Responsibility Clause Samples
Executive Responsibility. As a member of the management team, working closely with the Chief Executive Officer, the management team and the Board in developing and implementing a business plan (the “Business Plan”) that establishes goals, identifies key strategic issues to be addressed, and in setting objectives and short, medium, and long-term plans for the organization. • Ensuring that all issues related to the capital markets, regulatory reporting and compliance, corporate governance, financing, accounting, information technology and legal are fully articulated and addressed in a timely manner.
Executive Responsibility. Executive hereby accepts employment with the Company as its General Counsel and agrees that during the Term of Employment the Executive shall exercise his reasonable best efforts in furtherance of, and shall devote substantially all of his working time and attention to the affairs of the Company, Energy or any subsidiary or affiliate thereof, and shall perform such duties and services as may reasonably be assigned to him by, and shall report directly to the President and Chief Executive Officer of the Company; provided, however, that the Executive may serve as a director of other corporations or organizations upon approval by the Board of Directors of the Company and by the Board of Directors of Energy (the "Boards") which, in the judgment of the Boards, will not present any conflict of interest with the Company, Energy or any subsidiary or affiliate thereof, and which would not affect the performance of Executive's duties pursuant to this Agreement, which approval shall not be unreasonably withheld; and provided further that the Executive shall neither (a) become an officer or director of (i) another entity which has or will have the status of a public utility under the Federal Power Act, or any successor Act, (ii) any bank, trust company, banking association, or firm that is authorized by law to underwrite or participate in the marketing of securities of a public utility, or (iii) any company supplying electrical equipment to the Company, nor (b) accept any such position and commence the performance of any duties or services in such capacity (herein called an "Interlock"), unless the Executive shall have first (x) furnished the Boards with at least thirty (30) days prior written notice of his intention to create such Interlock and (y) secured, if the Boards shall request that such action be taken, any necessary authorization for such Interlock, in form and substance satisfactory to the Boards, from the Federal Energy Regulatory Commission, or successor regulatory agency, pursuant to Section 305(b) of the Federal Power Act, or any supplement or amendment thereto.