Common use of Business Efforts Clause in Contracts

Business Efforts. The parties acknowledge and agree that the payment of the Sale Bonus pursuant to Section 2 of this Agreement is intended as compensation for services rendered to the Company and/or its Affiliates in connection with the consummation of a Sale Transaction. As a condition to the payment of the Sale Bonus, the Executive shall be required to devote substantially all of his business efforts, which shall be a minimum of 40 hours per week (and such additional hours as may be necessary to fulfill his responsibilities under the terms of the Existing Employment Agreement and this Agreement, as may be amended from time to time), to the management and operations of the Company and its Affiliates pending the consummation of a Sale Transaction. In performance of the Executive’s duties, the Executive will carry out and follow the directions of the Board (including the Operating Committee of the Board) in conformance with all laws and Company rules and policies. The Executive shall perform such duties (i) at the Company’s offices at 1000 Xxxxxxx Xxxx, Xxxxxx, Xxxxxxxxxxxx, or (ii) at any other business location of the Company or any of its Affiliates as necessary to carry out the operations of the business, or (iii) at any other location as the proper performance of the Executive’s duties may require with the direction of the Board or the Operating Committee; provided that the frequency and duration of any such travel or work at a location other than the Company’s offices in Berwyn, Pennsylvania at the direction of the Board or the Operating Committee will be reasonable and take into consideration Executive’s family and other personal obligations. The Executive shall be entitled to engage in other activities permitted under Section 2 of the Original Employment agreement, as amended, subject to the prior consent of the Board which consent shall not be unreasonably withheld.

Business Efforts. The parties acknowledge and agree that the payment of the Sale Bonus pursuant to Section 2 1 of this Agreement is intended as compensation for services rendered to the Company and/or its Affiliates in connection with the consummation of a Sale Transaction. As a condition to the payment of the Sale Bonus, the Executive shall be required to devote substantially all of his business efforts, which shall be a minimum of 40 hours per week (and such additional hours as may be necessary to fulfill his responsibilities under the terms of the Existing Employment Agreement and this Agreement, as may be amended from time to time), to the management and operations of the Company and its Affiliates pending the consummation of a Sale Transaction. In performance of the Executive’s duties, the Executive will carry out and follow the directions of the Board (including the Operating Committee of the Board) in conformance with all laws and Company rules and policies. The Executive shall perform such duties (i) at the Company’s offices at 1000 Xxxxxxx Xxxx600 Xxxxx Xxxxxx Ave, XxxxxxSuite 200, XxxxxxxxxxxxSan Jxxx, Puerto Rico, or (ii) at any other business location of the Company or any of its Affiliates as necessary to carry out the operations of the business, or (iii) at any other location as the proper performance of the Executive’s duties may require with the direction of the Board or the Operating Committee; provided that the frequency and duration of any such travel or work at a location other than the Company’s offices in BerwynSan Jxxx, Pennsylvania Puerto Rico at the direction of the Board or the Operating Committee will be reasonable and take into consideration Executive’s family and other personal obligations. The Executive shall be entitled to engage in other activities permitted under Section 2 of the Original Employment agreementAgreement, as amended, subject to the prior consent of the Board which consent shall not be unreasonably withheld.