Position; Location. (a) Effective as of the commencement of Executive’s employment hereunder, on or around May 26, 2023 (the “Effective Date”), Executive shall be employed as Interim Chief Executive Officer. Executive shall continue to serve as a member of the Board of Directors of WeWork Inc. (the “Board”) and shall report to the Board. For the avoidance of doubt, during the Term, Executive will not receive any compensation for his service as a member of the Board. (b) Executive shall be primarily based in Virginia but from time-to-time shall be required to travel to and work from the Company’s headquarters in New York, NY or other business locations necessary to perform his duties or attend to the Company’s or its affiliates’ business. The Company will reimburse Executive for reasonable travel and lodging costs actually incurred in connection with such business travel in accordance with the Company’s Global Travel & Expense Policy, and subject to Executive submitting documentation of such costs in accordance with Company policy. (c) Executive shall use Executive’s best efforts to perform all services diligently and to the best of Executive’s ability, and shall at all times carry out Executive’s duties in a competent and professional manner and seek to enhance and promote the business of the Company. Executive shall devote all business time and efforts to the affairs of the Company. With the prior written approval of the Board, Executive may serve as a member of the board of for- profit and nonprofit organizations, provided that such activities do not interfere with Executive’s performance of Executive’s responsibilities to the Company. Notwithstanding the prior sentence, the Company will not prohibit Executive from continuing to serve on the board of directors of Digital Bridge and KVH Industries, so long as (i) Executive continues to devote his full business time, attention and best efforts to the performance of his duties to the Company and (ii) Executive does not use the Company’s information, equipment or resources in connection with such role(s) and (iii) Executive complies with the terms of the Company’s Invention, Non-Disclosure, Non- Competition and Non-Solicitation Agreement in connection with such roles. Notwithstanding the foregoing, during the Term (as defined below), nothing herein shall preclude Executive from (i) engaging in charitable activities and community affairs and (ii) managing Executive’s personal investments and affairs; provided, however, that the activities set out in clauses (i) and (ii) shall be limited by Executive so as not to materially interfere, individually or in the aggregate, with the performance of Executive’s duties and responsibilities hereunder.
Appears in 1 contract
Sources: Employment Agreement (WeWork Inc.)
Position; Location. (a) Effective as of the commencement of Executive’s employment hereunderSeptember 24, on or around May 26, 2023 2024 (the “Effective Date”), Executive shall be employed as Interim Chief Executive OfficerOfficer of the Company. Executive shall continue to serve as a member of the Board of Directors of WeWork Inc. the Company (the “Board”) and shall report directly to the Board. For the avoidance of doubt, during the Term, Executive will not receive any compensation for his her service as a member of the Board.
(b) Executive shall be primarily based in Virginia Spearfish, SD but from time-to-time shall be required to travel to and work from the Company’s headquarters in New YorkIrvine, NY CA or other business locations necessary to perform his her duties or attend to the Company’s or its affiliates’ business. The Company will reimburse Executive for reasonable travel and lodging costs actually incurred in connection with such business travel in accordance with the Company’s Global Travel & Expense Policy, and subject to Executive submitting documentation of such costs in accordance with Company policy.
(c) Executive shall use Executive’s best efforts to perform all services diligently and to the best of Executive’s ability, and shall at all times carry out Executive’s duties in a competent and professional manner and seek to enhance and promote the business of the Company. Executive shall devote all business time and efforts to the affairs of the Company. With the prior written approval of the Board, Executive may serve as a member of the board of for- for-profit and nonprofit non-profit organizations, provided that such activities do not interfere with Executive’s performance of Executive’s responsibilities to the Company. Notwithstanding the prior sentence, the The Company will not prohibit hereby approves Executive from continuing to serve on the board boards of directors of Digital Bridge Cardinal Health, Inc. and KVH IndustriesPerosphere Technologies Inc., so long as (i) Executive continues to devote his her full business time, attention and best efforts to the performance of his her duties to the Company and Company, (ii) Executive does not use the Company’s information, equipment or resources in connection with such role(s) roles and (iii) Executive complies recuses herself from any Cardinal Health, Inc. board discussions relating to business with the terms of the Company’s Invention, Non-Disclosure, Non- Competition and Non-Solicitation Agreement in connection with such roles. Notwithstanding the foregoing, during the Term (as defined below), nothing herein shall preclude Executive from (iA) engaging in charitable activities and community affairs and (iiB) managing Executive’s personal investments and affairs; provided, however, that the activities set out in clauses (iA) and (iiB) shall be limited by Executive so as not to materially interfere, individually or in the aggregate, with the performance of Executive’s duties and responsibilities hereunder.
Appears in 1 contract
Sources: Employment Agreement (Masimo Corp)
Position; Location. (a) Effective During the Term, the Executive shall serve as Chairman of the commencement Board ("Chairman"), Chief Executive Officer of Executive’s employment hereunder, on the Company and a member of the compensation committee (or around May 26, 2023 similar committee) of the Board (the “Effective Date”"Compensation Committee") (for so long as such Compensation Committee service is permissible under any applicable laws and regulations, including any listing standards of any securities exchange on which the Company's securities are listed), supervising the conduct of the business and affairs of the Company and performing such other duties as the Board shall determine, which duties shall not be materially inconsistent with the duties to be performed by executives holding similar offices in similarly-sized healthcare corporations. However, upon an initial public offering of the Company's common shares ("IPO"), the Board may determine that the Executive shall be employed no longer serve as Interim Chief Executive Officer. Executive Chairman but shall continue to serve as a member director of the Board of Directors of WeWork Inc. (the “Board”) and . The Executive shall report directly to the Board. For The Company agrees to nominate the avoidance Executive for a position on the Board at each election of doubt, directors held during the Term, and the Executive will not receive agrees to serve, without any additional compensation for his service (other than customary director fees paid or benefits conferred as a member of the Board.
(b) Executive shall be primarily based in Virginia but from time-to-time shall be required to travel to and work from the Company’s headquarters in New York, NY or other business locations necessary to perform his duties or attend to the Company’s or its affiliates’ business. The Company will reimburse Executive for reasonable travel and lodging costs actually incurred in connection with such business travel in accordance with the Company’s Global Travel & Expense Policy, and subject to Executive submitting documentation of such costs in accordance with Company policy.
(c) Executive shall use Executive’s best efforts to perform all services diligently and to the best of Executive’s ability, and shall at all times carry out Executive’s duties in a competent and professional manner and seek extent paid to enhance and promote the business of the Company. Executive shall devote all business time and efforts to the affairs of the Company. With the prior written approval of the Board, Executive may serve as a member or conferred on members of the board of for- profit and nonprofit organizations, provided that such activities do not interfere with Executive’s performance directors who are members of Executive’s responsibilities to management or designees of substantial stockholders of the Company. Notwithstanding ), as a director on the prior sentence, the Company will not prohibit Executive from continuing to serve on Board and the board of directors of Digital Bridge any subsidiary of the Company, and/or in one or more chief executive officer positions with any subsidiary of the Company. The parties acknowledge and KVH Industries, so long as agree that during the Term (i) Executive continues the Executive's principal office will not be moved to devote a location more than 20 miles from Metropolitan Nashville and Davidson County, Tennessee without his full business time, attention and best efforts to the performance of his duties to the Company approval and (ii) Executive does not use the Company’s informationCompany shall maintain, equipment or resources in connection with such role(s) and (iii) Executive complies with the terms organizational documents thereof, indemnification provisions providing for the maximum indemnification permitted by applicable law of the Company’s InventionExecutive by the Company for actions taken in his capacity as an officer, Non-Disclosure, Non- Competition and Non-Solicitation Agreement in connection with such roles. Notwithstanding the foregoing, during the Term (as defined below), nothing herein shall preclude Executive from (i) engaging in charitable activities and community affairs and (ii) managing Executive’s personal investments and affairs; provided, however, that the activities set out in clauses (i) and (ii) shall be limited by Executive so as not to materially interfere, individually director or in the aggregate, with the performance of Executive’s duties and responsibilities hereunderemployee thereof.
Appears in 1 contract
Sources: Employment Agreement (Biltmore Surgery Center Holdings Inc)