Position and Duties definition
Position and Duties means (i) a position (including, without limitation, offices, titles, and reporting requirements), authority, duties, and responsibilities that are at least commensurate in all material respects with the most significant of, and the highest grade or level of, those that were held or exercised by Executive or assigned to Executive at any time during the 120-day period immediately preceding the Change in Control Event, and (ii) services that are performed at the location where Executive was employed immediately preceding the effective date of the Change in Control Event or any other location less than 35 miles from Peabody, Massachusetts.
Position and Duties. The Employee shall serve in the following manner:
2.1 The Employee shall have the responsibility for the activities as Vice President Technology of the Company, or in such other position or positions as the parties mutually may agree, and shall have such other powers and duties as may from time to time be prescribed by the Company's President and Chief Executive Officer (the "CEO") or his delegee.
2.2 During the term of this Agreement, Employee shall devote his full time, skill and attention and his best efforts to the businesses and affairs of the Company to the extent necessary to discharge faithfully and efficiently his duties and responsibilities described herein, except for usual, ordinary and customary periods of vacation (as provided below) and absence due to illness or other disability or such periods of leave as are approved in writing by the Company's CEO or other officer.
Position and Duties. You will report to LSG's Chief Executive Officer and will have such duties and responsibilities as are customarily exercised by a person holding the position of Vice Chairman. EMPLOYMENT TERM: Subject to earlier termination in accordance with the terms of this Agreement, your employment with LSG under this Agreement (the "Term") will commence on the date (the "Effective Date") of the consummation of the transactions contemplated by the Exchange and Contribution Agreement by and among LED Holdings, LLC and LSG dated as of the date hereof (the "Exchange and Contribution Agreement") and will end on the fifth anniversary of the Effective Date. BASE SALARY: During the Term, your base salary (the "Base Salary") will be $400,000 per year, payable in regular installments in accordance with LSG's usual payroll practices. BONUS: During the Term, you will be eligible to participate in all executive bonus plan(s) in which senior executives of LSG participate as the Board, in its sole discretion, may from time to time establish, at a level commensurate to your position with LSG.
Examples of Position and Duties in a sentence
Company hereby employs Executive to perform those duties and responsibilities set forth below under Position and Duties and Executive hereby accepts such employment for a period commencing May 22, 2014, (“Effective Date”) and ending on July 1, 2019, (the “Term”) unless earlier terminated pursuant to the section titled Termination.
The provisions herein entitled Position and Duties of Employee, Compensation, Expenses, Termination of Employment, and Prohibition of Assignment are not severable.
The Company, in its sole discretion, may amend the Statement of Position and Duties at any time and any such amendment shall take effect on the date on which notice of the amendment is given to the Executive, provided, however, the Executive shall not be reassigned to a position of materially lesser rank or status without the Executive's consent.
Executive agrees not to make or permit to be made, except in pursuit of Executive's Position and Duties hereunder, any copies of such items.
The provisions herein entitled Position and Duties of Contractor, Compensation, Expenses, Termination, and Prohibition of Assignment are not severable.
More Definitions of Position and Duties
Position and Duties. You will report to LSG’s Board of Directors (the “Board”) and will have such duties and responsibilities as are customarily exercised by a person holding the position of Chief Executive Officer and as the Board may specify. During your employment with LSG and except as otherwise agreed by the Board, you will devote your full employable time, attention and best efforts to the business affairs of LSG.
Position and Duties. Vice President - Sales and Marketing. In addition to the foregoing, Employee shall perform such other or different duties as may be assigned to him from time to time by Employer. Employee shall devote his full time to the business of Employer during the term of this Agreement. The services of Employee shall be performed at Philadelphia, Pennsylvania. TERM: Employment at Will. Terminable at any time by either party without prior notice. COMPENSATION: $140,000 per year, payable in accordance with normal Company practices. Employer shall reimburse Employee for all reasonable travel, entertainment and other expenses incurred or paid by Employee in connection with, or related to, the performance of Employee's duties, responsibilities or services, upon presentation by the Employee of documentation, expense statements, vouchers and/or such other supporting information as Employer may request. The form and amount of compensation is adjustable by mutual agreement between Employee and the Company into incentive based compensation after the Company receives regulatory approval from the United State Food and Drug Administration for the introduction of the Company's psoriasis product. BENEFITS: Participation in Employer's employee fringe benefit, health insurance, life insurance, key man insurance and other programs in effect from time to time for employees of Employer and its affiliates at comparable levels of responsibility. Participation will be in accordance with any applicable policies adopted by Employer. Employee shall be entitled to vacations, absences for illness, and to similar benefits of employment, and shall be subject to such policies and procedures as may be adopted by Employer. In connection therewith, this Memorandum incorporates the terms and conditions of Employer's Employee Manual. AUTOMOBILE ALLOWANCE: $500.00 per month EMPLOYEE STOCK OPTIONS: 150,000 options, issued pursuant to a stock option agreement, a copy of which is attached hereto as Exhibit "A."
Position and Duties. You will report to LSG's Board of Directors (the "Board") and will have such duties and responsibilities as are customarily exercised by a person holding the position of Chief Executive Officer. You will serve (without additional compensation) as Chairman of the Board. During your employment with LSG and except as otherwise agreed by the Board, you will devote your full employable time, attention and best efforts to the business affairs of LSG (except during vacations or illness) and will not actively engage in outside business activities, whether or not such activity is pursued for gain, profit or other pecuniary advantage unless such activity (and the amount thereof) is approved by the Board. Notwithstanding the foregoing, you will be entitled to perform services as an Operating Advisor to Pegasus Partners IV L.P. and you will be entitled to devote a reasonable amount of time to civic and community affairs and the management of your personal investments.
Position and Duties. You will report to LSG's Chief Executive Officer and will have such duties and responsibilities as are customarily exercised by a person holding the position of Co-Chief Technology Officer. During your employment with LSG and except as otherwise agreed by LSG's Board of Directors (the "Board"), you will devote your full employable time, attention and best efforts to the business affairs of LSG (except during vacations or illness) and will not actively engage in outside business activities, whether or not such activity is pursued for gain, profit or other pecuniary advantage unless such activity (and the amount thereof) is approved by the Board. Notwithstanding the foregoing, you will be entitled to devote a reasonable amount of time to civic and community affairs and the management of your personal investments.
Position and Duties. The Executive shall serve as the Chief Business Officer and Chief Financial Officer of the Company and shall have such powers and duties as may from time to time be prescribed by the Chief Executive Officer (the “CEO”) or other duly authorized executive. The Executive shall devote the Executive’s full working time and efforts to the business and affairs of the Company. Notwithstanding the foregoing, the Executive may serve on other boards of directors, with the approval of the Board of Directors of the Company (the “Board”), or engage in religious, charitable or other community activities as long as such services and activities are disclosed to the Board and do not interfere with the Executive’s performance of the Executive’s duties to the Company. To the extent applicable, the Executive shall be deemed to have resigned from all officer and board member positions that the Executive holds with the Company or any of its respective subsidiaries and affiliates upon the termination of the Executive’s employment for any reason. The Executive shall execute any documents in reasonable form as may be requested to confirm or effectuate any such resignations.”
Position and Duties. You will report to LSG's Chief Executive Officer and will have such duties and responsibilities as are customarily exercised by a person holding the position of President and Chief Operating Officer.
Position and Duties. During the Employment Tenn, the Executive shall serve as Chief Financial Officer for the Company, together with all of its respective subsidiaries and affiliates, reporting directly to the board of directors of the Company (the “Board”), and shall have such duties, authority and responsibility as shall be assigned and determined from time to time by the Board including duties and responsibility for the Company and its current and any future parent, subsidiaries and affiliates, without additional compensation or benefits other than as set forth in this Agreement.