Amendment – Position and Responsibilities Sample Clauses

Amendment – Position and Responsibilities. Section 2(b) of the Employment Agreement shall be amended by adding the following at the end of such Section 2(a): Notwithstanding the foregoing, in the event that the Company shall complete the Proposed Merger, then effective on the Merger Completion Date, Executive shall cease to be President and Chief Executive Officer of the Company and shall become Chief Executive Officer of the reinsurance business of the parent of the Company (“Parent”), and shall have such duties and responsibilities as are customarily assigned to individuals serving in such a position and such other duties consistent with Executive’s title and position as the Parent’s Board or Chief Executive Officer specifies from time to time. For the avoidance of doubt, the change of Executive’s title and position by operation by the immediately preceding sentence shall not constitute Good Reason under the terms of this Agreement.