Extent of Employment. (a) During the Term of Employment, the Executive shall perform his obligations hereunder faithfully and to the best of his ability at the principal executive offices of the Company, under the direction of the Board of Directors and/or Chairman of the Board, President and Chief Executive Officer of the Company, and shall abide by the rules, customs and usages from time to time established by the Companies.
Extent of Employment. The Executive shall perform his obligations hereunder faithfully and to the best of his ability under the direction of the CEO of the Company. The Executive shall devote all of his business time, energy and skill as may be reasonably necessary for the performance of his duties, responsibilities and obligations hereunder (except for vacation periods and reasonable periods of illness or other incapacity), consistent with norms in similar positions. Nothing contained herein shall require the Executive to follow any directive or to perform any act which would violate any laws, ordinances, regulations or rules of any governmental, regulatory or administrative body, agent or authority, any court or judicial authority, or any public, private or industry regulatory authority (collectively, the "Regulations").
Extent of Employment. Executive shall perform his duties and obligations hereunder faithfully, and to the best of his ability, under the lawful direction of the Board of Directors of Company (the "Board of Directors") and the President of Company. Executive shall devote all of his business time, energy and skill such as may be reasonably necessary for the performance of his duties and obligations hereunder, consistent with the past practices and norms of Company and shall abide by the reasonable rules, customs and usages from time to time established by Company.
Extent of Employment. 1 3. Compensation.............................................................................................1 4.
Extent of Employment. The Executive shall perform his obligations hereunder faithfully and to the best of his ability under the direction of the Board of Directors of the Company (the "Board of Directors"). The Executive shall devote all of his business time, energy and skill as may be reasonably necessary for the performance of his duties, responsibilities and obligations hereunder, consistent with past practices and norms in similar positions and shall abide by the rules, customs and usages from time to time established by the Company. Nothing contained herein shall require Executive to follow any directive or to perform any act which would violate any laws, ordinances, regulations or rules of any governmental, regulatory or administrative body, agent or authority, any court or judicial authority, or any public, private or industry regulatory authority (collectively, "Regulations"). <PAGE> 3. Compensation During the Term of Employment, the Company shall pay compensation to Executive as follows: (a) As base compensation for his services hereunder, in [bi-monthly] installments, an annual base salary of $190,000. The Board of Directors shall annually, and in its sole discretion, determine whether the base salary should be increased and, if so, the amount of such increase. (b) The Executive is eligible to participate in the Company's Cash Incentive Plan, and to earn a bonus, subject to further deliberation by the Board of Directors, as set forth on Exhibit A hereto, and to be paid at the time of the first meeting of the Board of Directors following receipt of audited annual financial statements of the Company. Payment of the bonus is conditioned upon the Executive being employed by the Company during the relevant performance period and on the date which the bonus is paid. (c) The Company shall provide the Executive with an appropriate Company car in accordance with its current and future usual and customary policies and practices. The Company shall lease the car under the same terms and conditions currently in place, and bear all expenses associated with it, except any associated personal income tax liability of the Executive, and the cost of fuel for the Executive's personal use of the car. The Company shall maintain adequate liability insurance coverage related to the use and operation of the vehicle and the Executive shall be named as additional insured on such policy. 4.
Extent of Employment. The Executive shall perform his obligations hereunder faithfully and to the best of his ability under the direction of the Board of Directors of the Company (the "Board of Directors"). The Executive shall devote all of his business time, energy and skill as may be reasonably necessary for the performance of his duties, responsibilities and obligations hereunder, consistent with past practices and norms in similar positions and shall abide by the rules, customs and usages from time to time established by the Company. Nothing contained herein shall require Executive to follow any directive or to perform any act which would violate any laws, ordinances, regulations or rules of any governmental, regulatory or administrative body, agent or authority, any court or judicial authority, or any public, private or industry regulatory authority (collectively, "Regulations").
Extent of Employment. (a) During the Term of Employment, Executive shall perform his obligations hereunder faithfully and to the best of his ability under the direction of the Board of Directors of the Company, or such other appropriately authorized or designated executive officer of the Company, and shall abide by the rules, customs and usages from time to time established by the Company. 2 (b) During the Term of Employment, Executive shall devote such business time, energy and skill as may be reasonably necessary for the performance of his duties, responsibilities and obligations under this Agreement (except for vacation periods and reasonable periods of illness or other incapacity), consistent with past practices and norms with respect to similar positions, provided however, that the Company acknowledges that Employee is a General Partner in several venture capital funds and is a director, consultant and/or advisor to certain companies and associations. The Company specifically agrees that such current and future activities of the same general type and scope are permitted under the terms of this Agreement and are not in derogation of Employee's duties and obligations under this Agreement.
Extent of Employment. (a) During the Term of Employment, the Executive shall perform his obligations hereunder faithfully and to the best of his ability under the direction of the Board of Directors of the Company to which the Executive shall directly report, and shall abide by the rules, customs and usages from time to time established by the Company. 2 (b) During the Term of Employment, the Executive shall devote substantially all of his business time, energy and skill to the performance of his duties, responsibilities and obligations hereunder (except for vacation periods and reasonable periods of illness or other incapacity), consistent with past practices and norms in similar positions. The Executive will have such authority and power as are inherent to the undertakings applicable to his office and necessary to carry out his responsibilities an d the duties required of him hereunder.
Extent of Employment. The Executive shall perform his obligations hereunder faithfully and to the best of his ability under the direction of and accountable to the Board and in cooperation with and support of the Chief Executive Officer of the Company. The Executive shall have such duties, responsibilities and obligations ("Responsibilities") as shall be assigned to him from time to time by the Board, in its discretion. Executive shall devote such time, energy and skill as may be reasonably necessary for the performance of his Responsibilities (except for vacation periods and reasonable periods of illness or other incapacity), estimated to average approximately 40% of the time which he would spend as a full time senior executive of the Company. Executive's initial Responsibilities shall be as set forth in Schedule D. Nothing contained herein shall require the Executive to follow any directive or to perform any act which would violate any laws, ordinances, regulations or rules of any governmental, regulatory or administrative body, agent or authority, any court or judicial authority, or any public, private or industry regulatory authority (collectively, the "Regulations").
Extent of Employment. 5.1 The extent of employment shall encompass hours/week. This corresponds to a teaching load of weekly credit hours. One weekly credit hour means a teaching load of 11.25 hours (45 minutes multiplied by 15 weeks).
