Duties and Extent of Services. (a) Employee agrees to serve Employer and, consistent with his position, its subsidiaries faithfully and to the best of his ability under the direction of the Board of Directors of Employer, devoting his entire business time, energy and skill to his full time employment duties hereunder; provided, that subject to the approval of the Board of Directors of Employer, Employee may serve on the board of directors of companies other than Employer and its subsidiaries. The principal place of employment of Employee shall be at the offices of AAI, which are currently located in Hunt Valley, Maryland. Employee understands and agrees, however, txxx in connection with his employment hereunder, he may be required from time to time to travel on behalf of Employer. (b) The principal duties of Employee shall be to serve as President and Chief Executive Officer of Employer and AAI and, in such capacity, to render such managerial, administrative and other services to Employer and AAI and their subsidiaries as normally are associated with and incident to such positions as Employer from time to time may require of him. If, during the term of this Agreement, the Board of Directors of Employer so determines, in its absolute discretion, to elect Employee to any additional office of Employer or its subsidiaries consistent with his position, or a director of Employer or its subsidiaries, Employee agrees to accept and serve in such office or capacity, for no additional compensation or remuneration. If Employee is elected a director of Employer, he agrees to resign as a director if so requested by the Board of Directors of Employer, following the termination of his employment by Employer for any reason.
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Duties and Extent of Services. (a) Employee agrees to continue to serve Employer and, consistent with his position, its subsidiaries faithfully and to the best of his ability under the direction of the Board of Directors of Employer, devoting his entire business time, energy and skill to his full time employment duties hereunder; provided, that subject to the approval of the Board of Directors of Employer, Employee may serve on the board of directors of companies other than Employer and its subsidiaries. The principal place of employment of Employee shall be at the offices of AAI, which are currently located in Hunt Xxxx Valley, Maryland. Employee understands and agrees, however, txxx that in connection with his employment hereunder, he may be required from time to time to travel on behalf of Employer.
(b) The principal duties of Employee shall be to continue to serve as President and Chief Executive Officer of Employer and AAI and, in such capacity, to render such managerial, administrative and other services to Employer and AAI and their subsidiaries as normally are associated with and incident to such positions as Employer from time to time may require of him. If, during the term of this Agreement, the Board of Directors of Employer so determines, in its absolute discretion, to elect Employee to any additional office of Employer or its subsidiaries consistent with his position, or a director of Employer or its subsidiaries, Employee agrees to accept and serve in such office or capacity, for no additional compensation or remuneration. Employee hereby acknowledges that as of the Effective Date, Employee currently serves as a director of Employer and Employee shall not be entitled to any additional compensation for such service. If Employee is elected a director of Employer, he agrees to resign as a director if so requested by the Board of Directors of Employer, following the termination of his employment by Employer for any reason.
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Duties and Extent of Services. (a) Employee agrees to serve Employer and, consistent with his position, and its subsidiaries subsidiary companies faithfully and to the best of his ability under the direction of the Board of Directors and President of Employer, devoting his entire business time, energy and skill to his full time employment duties hereunder; provided, that subject to the approval of the Board of Directors of Employer, Employee may serve on the board of directors of companies other than Employer and its subsidiaries. The principal place of employment of Employee shall be at the offices of AAI, which are Employer currently located at Industry Lane in Hunt Xxxx Valley, Maryland. Employee understands and agrees, however, txxx that in connection with his employment hereunder, he may be required from time to time to travel on behalf of Employer.
. If the principal place of employment of the Employee shall change prior to the Termination Date because of a change in Employer's or AAI Corporation's offices to a location which is more than 50 miles from the offices presently located at Industry Lane, the Employee shall have the option within 30 days after such change to terminate this Agreement by sending written notice of termination to Employer, and thereupon his employment pursuant to this Agreement shall terminate and Employee shall be entitled to no further payments hereunder, other than (bi) for any compensation due pursuant to Section 4 and (ii) the reimbursements pursuant to Section 9 hereof, of any expenses incurred prior to the date of such termination. The principal duties of Employee shall be to serve as Vice President and Chief Executive Financial Officer of Employer and AAI and, in such capacity, to render such managerial, administrative and other services to Employer and AAI and their its subsidiaries as normally are associated with and incident to such positions as Employer from time to time may require of him. If, during the term of this Agreement, the Board of Directors of Employer so determines, in its absolute discretion, to elect Employee to any additional office of Employer or its subsidiaries subsidiary companies consistent with his position, or a director of Employer or its subsidiariessubsidiary companies, Employee agrees to accept and serve in such office or capacity, capacity for no additional compensation or remuneration. If Employee is elected a director of Employer, he agrees to resign as a director if so requested by the Board of Directors of Employer, following the termination of his employment by Employer for any reason.
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Duties and Extent of Services. (a) Employee agrees to During the Term of Employment, the Executive shall serve Employer and, consistent with his position, its subsidiaries faithfully and to the best of his ability under the direction as Chairman of the Board of Directors of Employereach of CLI and ELII, devoting his entire business time, energy and skill to his full time employment duties hereunder; provided, that subject to the approval of the Board of Directors of Employer, Employee may serve on the board of directors of companies other than Employer and its subsidiaries. The principal place of employment of Employee shall be at the offices of AAI, which are currently located in Hunt Valley, Maryland. Employee understands and agrees, however, txxx in connection with his employment hereunder, he may be required from time to time to travel on behalf of Employer.
(b) The principal duties of Employee shall be to serve as President and Chief Executive Officer of Employer and AAI and, in such capacitycapacities, to shall render such managerial, administrative and other services to Employer and AAI and their subsidiaries as normally customarily are associated with and incident to such positions, and as the Company may, from time to time, reasonably require of him consistent with such positions, all as consistent with past practice.
(b) During the Term of Employment, the Company shall use its best efforts and powers to cause each of the Company, CLI and ELII to nominate the Executive as a management nominee for each of their Boards of Directors. The Executive shall serve as a Director of the Company, CLI and ELII if elected to such positions in accordance with law and hold such other positions and executives offices of the Company and/or of any of the Company's subsidiaries or affiliates as Employer may from time to time may require of him. If, during the term of this Agreement, the Board of Directors of Employer so determines, in its absolute discretion, to elect Employee to any additional office of Employer or its subsidiaries consistent with his position, or a director of Employer or its subsidiaries, Employee agrees to accept and serve in such office or capacity, for no additional compensation or remuneration. If Employee is elected a director of Employer, he agrees to resign as a director if so requested be authorized by the Board of Directors of Employerthe Company, following provided that each such position shall be commensurate with the termination Executive's standing in the business community as a Director of the Company and Chairman of the Board of Directors of each of CLI and ELII. The Executive shall not be entitled to any compensation other than the compensation provided for herein for serving during the Term of Employment as a Director of the Company, CLI or ELII, or in any other office or position of the Company or any of its subsidiaries or affiliates unless the Board of Directors of the Company shall have specifically approved such additional compensation.
(c) The Executive shall devote such time and effort as is necessary and appropriate to faithfully, competently and diligently perform to the best of his ability all of the duties required of him as Chairman of the Board of Directors of each of CLI and ELII, consistent with past practice.
(d) In connection with his employment by Employer hereunder, the Executive shall be provided with a full-time secretary and the use of the office space set forth on the floor plan attached hereto as Exhibit A and the furnishings currently contained therein. If the Company shall relocate its executive offices or base of operations, the Executive shall be provided with comparable support services and office facilities, in terms of size and location, to those provided for any reasonherein.
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Duties and Extent of Services. (a) Employee agrees to serve ----------------------------- Employer and, consistent with his position, and its subsidiaries subsidiary companies faithfully and to the best of his her ability under the direction of the Board of Directors and President of Employer, devoting his her entire business time, energy and skill to his full time employment her duties hereunder; provided, that subject to the approval of the Board of Directors of Employer, Employee may serve on the board of directors of companies other than Employer and its subsidiaries. The principal place of employment of Employee shall be at the offices of AAI, Employer which are currently located in Hunt ValleyNew York, MarylandNew York. Employee understands and agrees, however, txxx that in connection with his her employment hereunder, he she may be required from time to time to travel on behalf of Employer.
. If the principal place of employment of the Employee shall change because of a change in Employer's offices to a location which is more than 50 miles from the offices presently located in New York, New York, the Employee shall have the option to terminate this Agreement by sending written notice of termination to Employer, and thereupon her employment pursuant to this Agreement shall terminate and Employee shall be entitled to no further payments hereunder, other than (bi) for any compensation due pursuant to Section 4 hereof through the date of such termination, (ii) the reimbursements pursuant to Section 9 hereof, of any expenses incurred prior to the date of such termination, and (iii) the continuation of Employee's base salary pursuant to Section 4(a) hereof for a period of six (6) months from the date of such termination, but not beyond the Termination Date. The principal duties of Employee shall be to serve as President Vice President-Corporate Communications, Secretary and Chief Executive Officer Associate General Counsel of Employer and AAI and, in such capacity, to render such 2 managerial, administrative and other services to Employer and AAI and their its subsidiaries as normally are associated with and incident to such positions as Employer from time to time may require of himher. If, during the term of this Agreement, the Board of Directors of Employer so determines, in its absolute discretion, to elect Employee to any additional office of Employer or its subsidiaries subsidiary companies consistent with his her position, or a director of Employer or its subsidiariessubsidiary companies, Employee agrees to accept and serve in such office or capacity, as well as a director of Employer, for no additional compensation or remuneration. If Employee is elected a director of Employer, he agrees to resign as a director if so requested by the Board of Directors of Employer, following the termination of his employment by Employer for any reason.
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Duties and Extent of Services. (a) Employee agrees to serve ----------------------------- Employer and, consistent with his position, and its subsidiaries subsidiary companies faithfully and to the best of his ability under the direction of the Board of Directors and President of Employer, devoting his entire business time, energy and skill to his full time employment duties hereunder; provided, that subject to the approval of the Board of Directors of Employer, Employee may serve on the board of directors of companies other than Employer and its subsidiaries. The principal place of employment of Employee shall be at the offices of AAI, Employer which are currently located in Hunt ValleyNew York, MarylandNew York. Employee understands and agrees, however, txxx that in connection with his employment hereunder, he may be required from time to time to travel on behalf of Employer.
. If the principal place of employment of the Employee shall change because of a change in Employer's offices to a location which is more than 50 miles from the offices presently located in New York, New York, the Employee shall have the option to terminate this Agreement by sending written notice of termination to Employer, and thereupon his employment pursuant to this Agreement shall terminate and Employee shall be entitled to no further payments hereunder, other than (i) for any compensation due pursuant to Section 4 hereof through the date of such termination, (ii) the reimbursements pursuant to Section 9 hereof, of any expenses incurred prior to the date of such termination, and (iii) the continuation of Employee's base salary and employee benefits pursuant to Sections 4(a) and (b) hereof for a period of six (6) months from the date of such termination, but not beyond the Termination Date. The principal duties of Employee shall be to serve as President Treasurer and Chief Executive Financial Officer of Employer and AAI and, in such capacity, to render such managerial, administrative and other services to Employer and AAI and their its subsidiaries as normally are associated with and incident to such positions as Employer from time to time may require of him. If, during the term of this Agreement, the Board of Directors of Employer so determines, in its absolute discretion, to elect Employee to any additional office of Employer or its subsidiaries subsidiary companies consistent with his position, or a director of Employer or its subsidiariessubsidiary companies, Employee agrees to accept and serve in such office or capacity, for no additional compensation or remuneration. If Employee is elected as well as a director of Employer, he agrees to resign as a director if so requested by the Board of Directors of Employer, following the termination of his employment by Employer for any reasonno addi- tional compensation or remuneration.
Appears in 1 contract
Duties and Extent of Services. (a) Employee agrees to serve Employer and, consistent with his position, and its subsidiaries subsidiary companies faithfully and to the best of his ability under the direction of the Board of Directors and President of Employer, devoting his entire business time, energy and skill to his full time employment duties hereunder; provided, that subject to the approval of the Board of Directors of Employer, Employee may serve on the board of directors of companies other than Employer and its subsidiaries. The principal place of employment of Employee shall be at the offices of AAI, which are Employer currently located at Industry Lane in Hunt Xxxx Valley, Maryland. Employee understands and agrees, however, txxx that in connection with his employment hereunder, he may be required from time to time to travel on behalf of Employer.
. If the principal place of employment of the Employee shall change prior to the Termination Date because of a change in Employer's or AAI Corporation's offices to a location which is more than 50 miles from the offices presently located at Industry Lane, the Employee shall have the option within 30 days after such change to terminate this Agreement by sending written notice of termination to Employer, and thereupon his employment pursuant to this Agreement shall terminate and Employee shall be entitled to no further payments hereunder, other than (bi) for any compensation due pursuant to Section 4 and (ii) the reimbursements pursuant to Section 9 hereof, of any expenses incurred prior to the date of such termination. The principal duties of Employee shall be to serve as Vice President and Chief Executive Officer General Counsel of Employer and AAI and, in such capacity, to render such managerial, administrative and other services to Employer and AAI and their its subsidiaries as normally are associated with and incident to such positions as Employer from time to time may require of him. If, during the term of this Agreement, the Board of Directors of Employer so determines, in its absolute discretion, to elect Employee to any additional office of Employer or its subsidiaries subsidiary companies consistent with his position, or a director of Employer or its subsidiariessubsidiary companies, Employee agrees to accept and serve in such office or capacity, capacity for no additional compensation or remuneration. If Employee is elected a director of Employer, he agrees to resign as a director if so requested by the Board of Directors of Employer, following the termination of his employment by Employer for any reason.
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Duties and Extent of Services. (a) Employee agrees to serve Employer and, consistent with his position, and its subsidiaries subsidiary companies faithfully and to the best of his her ability under the direction of the Board of Directors and President of Employer, devoting his her entire business time, energy and skill to his full time employment her duties hereunder; provided, that subject to the approval of the Board of Directors of Employer, Employee may serve on the board of directors of companies other than Employer and its subsidiaries. The principal place of employment of Employee shall be at the offices of AAI, which are Employer currently located in Hunt Valleyat 000 Xxxxxxxxx Xxxxxx, MarylandXxx Xxxx, Xxx Xxxx. Employee understands and agrees, however, txxx that in connection with his her employment hereunder, he she may be required from time to time to travel on behalf of Employer.
. If the principal place of employment of the Employee shall change prior to the Termination Date because of a change in Employer's offices to a location which is more than 50 miles from the office presently located at 000 Xxxxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, the Employee shall have the option within 30 days after such change to terminate this Agreement by sending written notice of termination to Employer, and thereupon her employment pursuant to this Agreement shall terminate and Employee shall be entitled to no further payments hereunder, other than (bi) for any compensation due pursuant to Sections 4 and (ii) the reimbursements pursuant to Section 9 hereof, of any expenses incurred prior to the date of such termination. The principal duties of Employee shall be to serve as President Vice President, Corporate Communications, Associate General Counsel, and Chief Executive Officer of Employer and AAI Secretary and, in such capacity, to render such managerial, administrative and other services to Employer and AAI and their its subsidiaries as normally are associated with and incident to such positions as Employer from time to time may require of himher. If, during the term of this Agreement, the Board of Directors of Employer so determines, in its absolute discretion, to elect Employee to any additional office of Employer or its subsidiaries subsidiary companies consistent with his her position, or a director of Employer or its subsidiariessubsidiary companies, Employee agrees to accept and serve in such office or capacity, capacity for no additional compensation or remuneration. If Employee is elected a director of Employer, he agrees to resign as a director if so requested by the Board of Directors of Employer, following the termination of his employment by Employer for any reason.
Appears in 1 contract
Duties and Extent of Services. (a) Employee agrees to serve Employer and, consistent with his position, its subsidiaries faithfully and to the best of his ability under the direction of the Board of Directors of Employer, devoting his entire business time, energy and skill to his full time employment duties hereunder; provided, that subject to the approval of the Board of Directors of Employer, Employee may serve on the board of directors of companies other than Employer and its subsidiaries. The principal place of employment of Employee shall be at the offices of AAI, which are currently located in Hunt Xxxx Valley, Maryland. Employee understands and agrees, however, txxx that in connection with his employment hereunder, he may be required from time to time to travel on behalf of Employer.
(b) The principal duties of Employee shall be to serve as President and Chief Executive Officer of Employer and AAI and, in such capacity, to render such managerial, administrative and other services to Employer and AAI and their subsidiaries as normally are associated with and incident to such positions as Employer from time to time may require of him. If, during the term of this Agreement, the Board of Directors of Employer so determines, in its absolute discretion, to elect Employee to any additional office of Employer or its subsidiaries consistent with his position, or a director of Employer or its subsidiaries, Employee agrees to accept and serve in such office or capacity, for no additional compensation or remuneration. Employee hereby acknowledges that as of the Effective Date, Employee currently serves as a director of Employer and Employee shall not be entitled to any additional compensation for such service. If Employee is elected a director of Employer, he agrees to resign as a director if so requested by the Board of Directors of Employer, following the termination of his employment by Employer for any reason.
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