Appointment of New CEO Sample Clauses

Appointment of New CEO. In the event that Xxx xxxxxx to perform the functions of CEO, a new CEO will be appointed by the shareholders in the following manner: LF will suggest 3 candidates from which HC may choose one candidate to serve as the new CEO of Newco. If HC is of the opinion that none of candidates that Xxx suggested can properly serve as a CEO of Newco, then HC will offer 3 candidates from which Xxx can choose one to serve as the new CEO of Newco. If LF is of the opinion that none of the candidates offered by HC can properly serves as a CEO of Newco, then the issue will be resolved by an industry expert appointed by the parties. The gross salary of the new CEO will be equal to the original compensation that was paid to Xxx less any compensation that is paid to Xxx while Xxxxx employs the new CEO. Each of LF and HC can cause Newco to terminate the services of the new CEO. Upon written request of either Xxx or HC, Newco will terminate the service/employment of the then serving CEO. Powers of the CEO In addition to the standard powers of the a general manager provided under the law, as part of his role in the Company, as long as Xxx serves as CEO, the CEO shall have the powers and authority listed below, provided, however, (i) that said powers and authority are exercised pursuant to, and in compliance with, the terms and provisions of the Plan as approved by the Board of Directors from time to time and (ii) that Xxx shall exercise such powers only after consultation with Xxxxx, for as long as Xxxxx shall serve as a member of the Board of Newco, or with one of the members of the Board appointed by HC, in the event that Xxxxx, for any reason whatsoever, should cease to serve as a member of the Board: The CEO shall have discretion with respect to allocations made, or any expenses incurred, by Xxxxx as part of its research and development activity; The CEO shall have discretion with respect to undertaking of any contemplated development of new products by Xxxxx; and The CEO shall have discretion with respect to hiring and firing of key personnel in Newco. For the further avoidance of doubt it is hereby clarified that the CEO shall have the abovementioned powers, only so long as Xxx shall serve as CEO.
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Appointment of New CEO. Xxxx Xxxxxxxx shall have been appointed as Chief Executive Officer and entered into an employment agreement with the Company reasonably satisfactory to the Purchaser.
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Appointment of New CEO. Provided that this Agreement ---------------------- has not previously been terminated under any other Section hereof, Executive shall have the right to terminate the term of employment at any time, without cause, within six months following the commencement of employment of a new CEO of the Company.
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Appointment of New CEO. In the event that during Executive’s employment, the Board elects a CEO to succeed Executive on or prior to December 31, 2009, then Executive shall be entitled to receive his Base Salary accrued through the date when he no longer serves as CEO, 50% of the then unvested portion of each New Equity Grant shall immediately vest, and the remaining 50% of the then unvested New Equity Grants shall be forfeited. It is expected that at such time Executive will remain (non-executive) Chairman, on terms to be negotiated by the parties in good faith at that time.
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Appointment of New CEO. (i) Upon the date the Board appoints a new CEO to replace the Executive (the “CEO Transition Date”): (i) the Executive’s Base Salary shall be reduced to the monthly rate of $35,833 per month (i.e. the Prior Base Salary); and (ii) the Executive’s bonus eligibility shall be reduced to the amount of $26,875 per month (i.e. the Prior Bonus).
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Appointment of New CEO. The Company shall appoint a new Chief Executive Officer of the Company within 45 days of the First Tranche Closing.
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Related to Appointment of New CEO

  • Appointment of FTIS The Investment Company hereby appoints FTIS as transfer agent for Shares of the Investment Company, as service agent in connection with dividend and distribution functions, and as shareholder servicing agent for the Investment Company, and FTIS accepts such appointment and agrees to perform the following duties.

  • Appointment of Consultant The Corporation appoints the Consultant and the Consultant accepts appointment on the terms and conditions provided in this Agreement as a consultant to the Corporation's business, including any other corporations hereafter formed or acquired by the Corporation to engage in any business.

  • ALPS Appointment and Duties (a) The Fund hereby appoints ALPS to provide the distribution services set forth in this Agreement on Appendix B, as amended from time to time, upon the terms and conditions hereinafter set forth. ALPS hereby accepts such appointment and agrees to furnish such specified services. ALPS shall for all purposes be deemed to be an independent contractor and shall, except as otherwise expressly authorized in this Agreement, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund.

  • Appointment of Contractor The Company hereby appoints the Contractor to perform the Services for the benefit of the Company as hereinafter set forth, and the Company hereby authorizes the Contractor to exercise such powers as provided under this Agreement. The Contractor accepts such appointment on the terms and conditions herein set forth.

  • Appointment and Duties The Trustees shall at all times employ a custodian or custodians, meeting the qualifications for custodians for portfolio securities of investment companies contained in the 1940 Act, as custodian with respect to the assets of the Trust. Any custodian shall have authority as agent of the Trust with respect to which it is acting as determined by the custodian agreement or agreements, but subject to such restrictions, limitations and other requirements, if any, as may be contained in the By-Laws of the Trust and the 1940 Act:

  • Appointment of Co-Trustee (a) It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this Section 7.10 are adopted to these ends.

  • Appointment and Duties of the Manager (a) The Company hereby appoints the Manager to manage the assets of the Company subject to the further terms and conditions set forth in this Agreement and the Manager hereby agrees to use its commercially reasonable efforts to perform each of the duties set forth herein. The appointment of the Manager shall be exclusive to the Manager except to the extent that the Manager otherwise agrees, in its sole and absolute discretion, and except to the extent that the Manager elects, pursuant to the terms of this Agreement, to cause the duties of the Manager hereunder to be provided by third parties.

  • Appointment of Receiver, Etc (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of Holdings, any Borrower or any of the Restricted Subsidiaries in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or foreign Law; (ii) an involuntary case shall be commenced against Holdings, any Borrower or any of the Restricted Subsidiaries under any Debtor Relief Law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, any Borrower or any of the Restricted Subsidiaries, or over all or a substantial part of its property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of Holdings, any Borrower or any of the Restricted Subsidiaries for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Holdings, any Borrower or any of the Restricted Subsidiaries, and any such event described in this clause (ii) shall continue for sixty days without having been dismissed, bonded or discharged; or (iii a moratorium under the laws of the United Kingdom is declared in respect of any Indebtedness of a Foreign Credit Party organized under the laws of England and Wales; or

  • Appointment of Manager Owner hereby engages and retains Manager as the manager and as tenant coordinating agent of the Properties, and Manager hereby accepts such appointment on the terms and conditions hereinafter set forth; it being understood that this Management Agreement shall cause Manager to be, at law, Owner’s agent upon the terms contained herein.

  • Appointment and Designation of Master Servicer The Purchaser hereby appoints and designates Aurora Loan Services, Inc. as its master servicer (the "Master Servicer") for the Mortgage Loans subject to this Agreement. The Company is hereby authorized and instructed to take any and all instructions with respect to servicing the Mortgage Loans hereunder as if the Master Servicer were the Purchaser hereunder. The authorization and instruction set forth herein shall remain in effect until such time as the Company shall receive written instruction from the Purchaser that such authorization and instruction is terminated.

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