BEST EFFORTS OF EXECUTIVE. 2.01 Executive shall use his best energies and abilities in the performance of his duties, services and responsibilities for the Company.
2.02 During the term of his employment, Executive shall devote substantially all of his business time and attention to the business of the Company and its subsidiaries and affiliates and shall not engage in any substantial activity inconsistent with the foregoing, whether or not such activity shall be engaged in for pecuniary gain, unless approved by the Board; provided, however, that, to the extent such activities do not violate, or substantially interfere with his performance of his duties, services and responsibilities under this Agreement.
BEST EFFORTS OF EXECUTIVE. 2.01 Executive agrees that he will at all times faithfully, industriously, and to the best of his ability, experience, and talents, perform all of the duties that may be required of and from him pursuant to the terms of this Agreement, to the reasonable satisfaction of the Company.
BEST EFFORTS OF EXECUTIVE. During his employment hereunder, Executive shall, subject to the direction and supervision of the Company’s board of directors, devote his full business time, best efforts, business judgment, skill, and knowledge to the advancement of the Company's interests and to the discharge of his duties and responsibilities hereunder.
BEST EFFORTS OF EXECUTIVE. 2.01 Executive shall use his best efforts, judgment, and abilities in the performance of his duties, services and responsibilities for the Company.
2.02 During the term of his employment, Executive shall devote substantially all of his business time and attention (other than during periods of vacation, illness or disability) to the business of the Company and its subsidiaries and affiliates and shall not engage in any substantial activity inconsistent with the foregoing, whether or not such activity shall be engaged in for pecuniary gain, unless approved by the Board. Notwithstanding the foregoing, Executive may manage his personal investments, engage in educational, charitable or other community activities, and business advisory capacities as long as such activities do not pose an actual or apparent conflict of interest and do not interfere with Executive’s performance of his duties under this Agreement. Executive represents that any outside professional activities with which he is currently involved or reasonably expects to become involved do not conflict with the business and affairs of the Company or interfere with Executive’s performance of his duties hereunder.
BEST EFFORTS OF EXECUTIVE. 2.01 In his capacity as Vice President, Operations, Executive shall use his best energies and abilities in the performance of his duties, services and responsibilities for the Company.
2.02 During the term of his employment, Executive shall devote substantially all of his business time and attention to the business of the Company and its subsidiaries and affiliates and shall not engage in any substantial activity inconsistent with the foregoing, whether or not such activity shall be engaged in for pecuniary gain, unless approved by the Board; provided, however, that, to the extent such activities do not violate, or substantially interfere with his performance of his duties, services and responsibilities under this Agreement, Executive shall be permitted to serve on civic or charitable boards or committees thereof.
BEST EFFORTS OF EXECUTIVE. 2.01 Executive agrees that Executive will devote substantially full-time attention to the affairs of the Company and that Executive will at all times faithfully, industriously, and to the best of Executive’s ability, experience, and talents, perform all of the lawful duties that may be required of and from Executive pursuant to the terms of this Agreement. Consistent with the foregoing, Executive may engage in outside activities pursuant to Sections 9.02 and 9.07 of this Agreement.
BEST EFFORTS OF EXECUTIVE. The Executive agrees that he will at all times faithfully, industriously and to the best of his ability, experience and talents perform all of the duties that may be required of and from him pursuant to the express and implicit terms of this Agreement, to the reasonable satisfaction of the Bank.
BEST EFFORTS OF EXECUTIVE. Executive shall devote the required business time, attention, and efforts to the performance of Executive’s duties under this Agreement, and shall serve InPlay faithfully and diligently while employed by InPlay.
BEST EFFORTS OF EXECUTIVE. The EXECUTIVE agrees that he will at times faithfully, industriously, and to the best of his ability, experience, talents, and training perform all the duties that may be required of and from him pursuant to the express and implicit terms hereof, to the reasonable satisfaction of the COMPANY. EXECUTIVE further agrees not to compete for a period of two years (2 years) after employment has ceased.
BEST EFFORTS OF EXECUTIVE. 2.01 In his capacity as Chief Financial Officer, Executive shall use his best energies and abilities in the performance of his duties, services and responsibilities for the Company. As of the date of this Agreement, the Company is not requiring Executive to relocate his residence to Minnesota. Executive agrees that on or before December 31, 2005, he will relocate his residence to Minnesota. The Company will pay Executive a relocation payment in connection with Executive’s move to Minnesota, as set forth on Schedule A. Executive will reimburse the Company for such relocation payment if Executive terminates his employment without Good Reason prior to September 13, 2006.
2.02 During the term of his employment, Executive shall devote substantially all of his business time and attention to the business of the Company and its subsidiaries and affiliates and shall not engage in any substantial activity inconsistent with the foregoing, whether or not such activity shall be engaged in for pecuniary gain, unless approved by the Board; provided, however, that, to the extent such activities do not violate, or substantially interfere with his performance of his duties, services and responsibilities under this Agreement, Executive shall be permitted to serve on civic or charitable boards or committees thereof.
2.03 The Company shall grant Executive a nonincentive stock option pursuant to its 2002 Equity Incentive Plan (the “Plan”), to purchase up to 175,000 shares of common stock at an exercise price equal to the Company’s closing sale price of a share of common stock on the date of grant, which shall be as soon as reasonably practicable after approval of this Agreement by the Company and Executive, shall have a ten-year term, and shall vest in three installments as follows: (i) 75,000 shares on the date of commencement of employment; (ii) an additional 50,000 shares on the first anniversary of the date of employment; and (iii) the remaining 50,000 shares on the second anniversary of employment, subject to acceleration upon a change of control as defined under the Company’s 2002 Equity Incentive Plan. The option will in all respects be governed under the terms and conditions of the Plan and the Company’s standard form of non-qualified stock option agreement.
