Interim CEO Sample Clauses
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Interim CEO. During the period commencing on November 12, 2022 (“Interim CEO Start Date”) and continuing until the date on which a successor Chief Executive Officer is hired and commences employment with the Company (the “Interim CEO Period”), you shall serve in the position of Interim CEO, in addition to the position of General Counsel of the Company. Your employment during the Interim CEO Period shall continue to be “at will,” and may be terminated by you or the Company at any time with or without cause or with or without advance notice, in accordance with the Amended and Restated Executive Employment Agreement, between you and Rigetti Holdings, Inc., dated February 2, 2022 (the “Employment Agreement”). As Interim CEO, you shall report to the board of directors of the Company (the “Board”), performing such duties as are normally associated with the position and such duties as are assigned from time to time, subject to the oversight and direction of the Board. Immediately after the expiration of Interim CEO Period, your duties, authority and responsibilities and reporting relationships shall be returned to those in effect immediately prior to the Interim CEO Start Date. In no event shall the Interim CEO Period extend beyond the 6-month anniversary of the Interim CEO Start Date, unless mutually agreed in writing by you and the Company.
Interim CEO. Executive’s employment and Employment Term as Chief Executive Officer (CEO) of the Company shall continue for 60 days after the Notice Date (the “Notice Period”). During the Notice Period, the Company will continue to pay Executive his current Base Salary and will continue Executive’s participation in the Company’s benefit plans, except that his Base Salary shall be reduced $10,000 per month.
Interim CEO. While you are serving as Interim CEO, you will receive a supplemental base salary payment at a rate of $10,000/month. For 2021, your annual bonus target will be 60% of the actual base salary earned during 2021 (inclusive of supplemental base salary actually paid pursuant to the preceding sentence) and your annual bonus determination will be based 100% upon Company performance. You acknowledge that the Company may remove you from the Interim CEO position at any time, and that neither such removal nor the cessation of the supplemental base salary described above shall constitute a basis for a Good Reason termination under the Employment Agreement between you and the Company, dated as of January 1, 2004, as amended, or otherwise result in any entitlement to severance.
Interim CEO. Within two (2) Business Days of the date of this Agreement, the Majority Buyer shall present to the Company and its Board of Directors one or more candidates it believes to be an acceptable interim chief executive officer of the Company. The Company and the Majority Buyer shall discuss promptly the selection in good faith of an appropriate candidate, it being understood and agreed that ▇▇. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ is acceptable to the Majority Buyer.