Common use of Executive’s Employment Clause in Contracts

Executive’s Employment. With Company Throughout the Term, Executive shall be employed as Vice President of Company or such other entity as shall then be the principal successor to the business, assets and properties of Company and shall continue to have similar or greater responsibility and authority in such position as he had immediately prior to the Effective Date. During the term: (a) Executive shall devote his full business time and efforts to the business and affairs of Company or the successor to Company by which Executive is then employed pursuant to this Agreement; provided, however, that Executive shall not be precluded from serving as a director or member of a committee or board of any other entity which involves no conflict of interest with Company or its successor. (b) Executive shall have duties, responsibilities and authority consistent with the position held by Executive as of the date hereof. (c) The business, assets and properties of Company or its successor, by whom Executive is employed pursuant to this Agreement, as well as the support services and facilities available to Executive, shall not differ materially from those of Company as existent one (1) year prior to the Effective Date.

Executive’s Employment. With Company Throughout the Term, Executive shall be employed as Vice President and Chief Executive Officer of Company or such other entity as shall then be the principal successor to the business, assets and properties of Company and shall continue to have similar or greater responsibility and authority in such position as he had immediately prior to the Effective Date. During the term: (a) Executive shall devote his full business time and efforts to the business and affairs of Company or the successor to Company by which Executive is then employed pursuant to this Agreement; provided, however, that Executive shall not be precluded from serving as a director or member of a committee or board of any other entity which involves no conflict of interest with Company or its successor. (b) Executive shall have duties, responsibilities and authority consistent with the position held by Executive as of the date hereof. (c) The business, assets and properties of Company or its successor, by whom Executive is employed pursuant to this Agreement, as well as the support services and facilities available to Executive, shall not differ materially from those of Company as existent one (1) year prior to the Effective Date.