Position Term and Duties Clause Samples
The "Position, Term and Duties" clause defines the role an individual will hold, the duration of their engagement, and the specific responsibilities they are expected to fulfill. Typically, this clause outlines the job title, the start and end dates (or conditions for continuation), and a summary of key tasks or obligations associated with the position. By clearly establishing these fundamental aspects, the clause ensures both parties have a mutual understanding of expectations, reducing the risk of disputes over job scope or employment duration.
Position Term and Duties. 1.1 The Corporation hereby employs ▇. ▇. ▇▇▇▇▇▇, and ▇. ▇. ▇▇▇▇▇▇ hereby accepts employment, as the Co-Chairman of the Board and Co-Chief Executive Officer of the Corporation for a term that shall commence as of the date hereof and shall continue such that this Employment Agreement shall at all times have a rolling term of three (3) years (the "Term").
1.2 ▇. ▇. ▇▇▇▇▇▇ will render such services to the Corporation as are customarily rendered by the Co-Chairman of the Board and Co-Chief Executive Officer of the Corporation, and ▇. ▇. ▇▇▇▇▇▇ shall be deemed to satisfy such obligations so long as he continues to hold such titles (it being understood that a termination of ▇. ▇. ▇▇▇▇▇▇ from either position "Without Cause" will be a default by the Corporation under this Employment Agreement). In furtherance and not in limitation of the foregoing, ▇. ▇. ▇▇▇▇▇▇, together with ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ ("▇.▇. ▇▇▇▇▇▇") pursuant to his Employment Agreement with the Corporation of even date herewith (the "Estrin Employment Agreement"), shall have the authority and power for the supervision, hiring and termination of the Corporation's senior management. ▇. ▇. ▇▇▇▇▇▇ may render such services from such offices and locations as he deems appropriate and desirable, and in no event shall ▇. ▇. ▇▇▇▇▇▇ be required to relocate. Nothing in this Employment Agreement shall prohibit ▇. ▇. ▇▇▇▇▇▇ from engaging, directly or indirectly, in any such activities with other companies, ventures or investments in any capacity whatsoever; provided, however, that ▇. ▇. ▇▇▇▇▇▇ shall not accept an offer to be retained as an employee, director, consultant or agent by, or purchase more than a ten percent (10%) ownership interest in any entity that derives more than fifty percent (50%) of its gross revenues from the retail sale, at a discount, of pharmaceuticals (other than an entity in which ▇. ▇. ▇▇▇▇▇▇ or his immediate family currently owns or controls, directly or indirectly, an ownership interest of at least one percent (1%)) without obtaining the prior written consent of the Corporation's Board of Directors.
1.3 To the fullest extent permitted or required by the laws of the state of incorporation of the Corporation, as may apply from time to time, the Corporation shall indemnify and hold harmless (including advance payment of expenses) ▇. ▇. ▇▇▇▇▇▇, in accordance with the terms of such laws, if ▇. ▇. ▇▇▇▇▇▇ is made a party, or threatened to be made a party, to any threatened, pending or completed acti...
Position Term and Duties. (a) The Executive shall serve as the Interim Chief Executive Officer of the Company. In such capacity, Executive shall have supervision and control over and responsibility for the day-to-day business and affairs of the Company and shall have such powers and duties as are customarily assigned to such role, and such other duties and responsibilities as may from time to time be prescribed by the Board of Directors (the “Board”). The Executive shall also continue to serve as a member of the Board during his employment under this Agreement, and the Company shall nominate the Executive for reelection in the event the Executive’s term as a member of the Board ends during his employment hereunder. It is anticipated that the Executive’s employment shall end following the conclusion of a reasonable transition period following the commencement of employment of a new Chief Executive Officer (the “Transition Period”). For the avoidance of doubt, the Executive will cease to hold the title of Interim Chief Executive Officer at such time when a new Chief Executive Officer commences employment.
(b) The Executive shall devote his full working time and efforts to the business and affairs of the Company. The Executive and the Company acknowledge that, subject to the business needs of the Company as determined by the Board, including as such business needs may require the performance of certain services at the Company’s headquarters, the Executive will not be obligated to perform the services under this Agreement exclusively from Massachusetts, but may divide his work time between Massachusetts and elsewhere. Notwithstanding anything contained in this paragraph, the Executive may (i) devote up to ten (10) hours per week, outside of normal business hours, to his existing consulting practice, (ii) manage his personal investments, (iii) engage in religious, charitable or other community activities and (iv) subject to the terms of this Section, serve on corporate or industry boards, as long as the activities described in (i) through (iv) do not pose an actual or apparent conflict of interest and do not interfere with the Executive’s performance of his duties to the Company. The Executive represents that he has provided the Company with a comprehensive list of all outside professional activities with which he is currently involved or reasonably expects to become
Position Term and Duties. 1.1 The Corporation hereby employs ▇.▇.
Position Term and Duties