Position, Place of Performance and Duties. Executive will serve as the Company’s Chief Operating Officer, and Executive shall report directly to the Company’s Chief Executive Officer (“CEO”) and the Company’s Board of Directors (the “Board”) and any committees thereof. Executive will have the responsibilities, duties and authority commensurate with the position of Chief Operating Officer, and Executive will perform such other services of an executive nature as may be prescribed from time to time by the CEO and the Board. Executive will generally perform his services hereunder at the Company’s principal offices in Houston, TX, or such other place as may be agreed to by Executive and the Board. During the Employment Period, Executive will be available to travel for business at such times and to such places as may be reasonably necessary in connection with the performance of his duties hereunder, including, but not limited to, anywhere in the United States, the Middle East and Europe. Executive shall devote his full business time and efforts to the performance of his duties hereunder. For the duration of the Employment Period, Executive agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior written approval of the Board, which approval will not be unreasonably withheld; provided, however, that Executive may, without the approval of the Board, serve in any capacity with any civic, educational or charitable organization, subject to Executive’s obligations under this Agreement and any agreement contemplated under Section 5 of this Agreement.
Position, Place of Performance and Duties. Executive will serve as the Company’s Chief Financial Officer. Executive will have the responsibilities, duty and authority commensurate with the position of Chief Financial Officer and will perform such other services of an executive nature as may be prescribed from time to time by the Company’s Board of Directors (the “Board”) and agreed to by Executive. Executive’s employment will be based at the Company’s principal offices in Sparks, Nevada or such other place as may be agreed to by Executive and the Board. In addition, Executive will be available to travel at such times and to such places as may be reasonably necessary in connection with the performance of his duties hereunder. Subject to the last sentence of this Section 1(b), Executive shall devote his full business time and efforts in the performance of his duties hereunder. Notwithstanding the foregoing, it is expressly agreed that (i) Executive may (A) manage his personal investments, (B) provide consulting services to existing clients of Xxxxx X. Xxxxxx, CPA, Ltd., (C) engage in charitable or not-for-profit activities, and/or (D) serve on the board of directors of up to one other company which is not a competitor of the Company, in each case, in a manner that does not materially interfere with his obligations to the Company hereunder, and (ii) neither the Company nor any officer, director, employee, shareholder or other person shall have any right, by virtue of this Agreement, to share or participate in such other investments or activities or to the income or proceeds derived therefrom. It is recognized by the Company that Executive is in the process of closing out a long-standing CPA practice and needs to focus some attention thereon during the first months of his employment. It is understood, therefore, that his salary in those first months is in part to compensate him for difficulties encountered in winding-up his practice.
Position, Place of Performance and Duties. Executive will serve as the Company’s Chief Executive Officer (“CEO”), and Executive shall report directly to the Company’s Board of Directors (the “Board”) and any committees thereof. Executive will have the responsibilities, duties and authority commensurate with the position of CEO, and Executive will perform such other services of an executive nature as may be prescribed from time to time by the Board. Executive will generally perform his services hereunder at the Company’s principal offices in Sparks, NV, or such other place as may be agreed to by Executive and the Board. Notwithstanding the foregoing, Executive may, for a period of up to 12 months following the Effective Date (the “Initial Period”), maintain his current family residence in Xxxxxxx Park, NY, and travel on at least a weekly basis between his Xxxxxxx Park, NY residence and the Company’s offices in Sparks, NV. During the Initial Period, the Company shall pay for all reasonable travel expenses associated with Executive’s commute between Xxxxxxx Park, NY and Sparks, NV. On or before the end of the Initial Period, Executive agrees to relocate his residence to the Sparks, NV area. During the Employment Period, Executive will be available to travel for business at such times and to such places as may be reasonably necessary in connection with the performance of his duties hereunder, including, but not limited to, anywhere in the United States, the Middle East and Europe. Executive shall devote his full business time and efforts to the performance of his duties hereunder. For the duration of the Employment Period, Executive agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior written approval of the Board, which approval will not be unreasonably withheld; provided, however, that Executive may, without the approval of the Board, serve in any capacity with any civic, educational or charitable organization, subject to Executive’s obligations under this Agreement and any agreement contemplated under Section 5 of this Agreement.
