Position Term and Duties Sample Clauses

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.
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Position Term and Duties. 1.1 The Corporation hereby employs X. X. Xxxxxx, and X. X. Xxxxxx 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").
Sample 1
Position Term and Duties. 1.1 The Corporation hereby employs X.X.
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Position Term and Duties 
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Related to Position Term and Duties

  • Employment Term and Duties Section 1.1.

  • Term and Duties (a) The term of this Agreement and the period of Executive’s employment hereunder shall begin as of the Effective Date and shall continue for thirty-six (36) full calendar months thereafter. Commencing on the first anniversary date following the Effective Date and continuing on each anniversary date thereafter (the “Anniversary Date”), this Agreement shall renew for an additional year such that the remaining term shall be thirty-six (36) months, provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) at least sixty (60) days prior to the Anniversary Date, conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement, which such decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal (“Non-Renewal Notice”) at least thirty (30) days and not more than sixty (60) days prior to any Anniversary Date, such that this Agreement shall terminate at the end of thirty-six (36) months following such Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may request, in writing, the results of the Board’s action (or non-action) and the Board shall, within thirty (30) days of the receipt of such request, provide a written response to Executive. Reference herein to the term of this Agreement shall refer to both such initial term and such extended terms.

  • Position and Duties (i) During the Employment Period, (A) the Executive's position (including status, offices, titles and reporting requirements), authority, duties and responsibilities shall be at least commensurate in all material respects with the most significant of those held, exercised and assigned at any time during the 120-day period immediately preceding the Effective Date and (B) the Executive's services shall be performed at the location where the Executive was employed immediately preceding the Effective Date or any office or location less than 35 miles from such location.

  • Employment and Duties (a) The Company hereby employs Executive as President and Chief Executive Officer of the Company. As such, Executive shall have responsibilities, duties and authority reasonably accorded to, expected of, and consistent with Executive's position as, President and Chief Executive Officer of the Company and will report directly to the Board of Directors of the Company (the "Board"). Executive hereby accepts this employment upon the terms and conditions herein contained and, subject to paragraph 1(c), agrees to devote substantially all of his business time, attention and efforts to promote and further the business of the Company.

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