Common use of AVAILABILITY OF OFFICERS Clause in Contracts

AVAILABILITY OF OFFICERS. 10.1 The Executive Officers will be directly employed by the Owner outside of this Agreement. 10.2 The Manager shall make available to the Owner all such other officers, managers or employees that the Owner and the Manager agree shall be made available. 10.3 The Executive Officers are entitled to direct the Manager to remove and replace any individual serving as an officer or any senior manager serving as head of a business unit from such position. Furthermore, the Manager agrees that it will not remove any individuals serving as officers or senior managers from their respective positions without the prior written consent of the Executive Officers. If any officer or senior manager who is made available to the Owner by the Manager resigns, is terminated or otherwise vacates his office, the Manager shall, as soon as practicable after acceptance of any resignation or after termination, use reasonable best efforts to identify suitable candidates for replacement of such officer. 10.4 The Owner may employ directly any other officers, senior managers or employees as it may deem necessary that will not be subject to this Agreement. 10.5 The Manager will report to the Owner and the Board of Directors through the Executive Officers.

Appears in 4 contracts

Samples: Management Agreement (Danaos Corp), Management Agreement (Danaos Corp), Management Agreement (Danaos Corp)

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AVAILABILITY OF OFFICERS. 10.1 15.1 The Executive Officers will be directly employed by the Owner outside of this Agreement. 10.2 15.2 The Manager shall make available to the Owner all such other officers, managers or employees that the Owner and the Manager agree shall be made available. 10.3 15.3 The Executive Officers are entitled to direct the Manager to remove and replace any individual serving as an officer or any senior manager serving as head of a business unit from such position. Furthermore, the Manager agrees that it will not remove any individuals serving as officers or senior managers from their respective positions without the prior written consent of the Executive Officers. If any officer or senior manager who is made available to the Owner by the Manager resigns, is terminated or otherwise vacates his office, the Manager shall, as soon as practicable after acceptance of any resignation or after termination, use reasonable best efforts to identify suitable candidates for replacement of such officer. 10.4 15.4 The Owner may employ directly any other officers, senior managers or employees as it may deem necessary that will not be subject to this Agreement. 10.5 15.5 The Manager will report to the Owner and the Board of Directors through the Executive Officers.

Appears in 2 contracts

Samples: Management Agreement (Danaos Corp), Management Agreement (Danaos Corp)

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