Common use of Duties and Performance Clause in Contracts

Duties and Performance. (a) During the Employment Period, Employee shall be employed by the Company on a full-time basis as its Vice President General Manager-Mytogen and shall have such authority and shall perform such duties consistent with his position as may be reasonably assigned to him and shall report to the Chief Executive Officer and Chief Development Officer of the Company. Employee shall use all reasonable efforts to further the interests of the Company and, except as approved by the Chief Executive Officer, shall devote all of his business time and attention to his duties hereunder. (b) Except with the approval of the Chief Executive Officer, Employee, during the Employment Period or any renewal thereof, will not (i) accept any other employment, or (ii) engage, directly or indirectly, in any other business activity (whether or not pursued for pecuniary advantage) that is or may be competitive with, or that might place him in a competing position to, that of the Company or any of its Affiliates (as defined in Section 7 hereof). (c) Employee shall be entitled to be reimbursed in accordance with the policies of the Company, as adopted and amended from time to time, for all reasonable standard and necessary expenses incurred by him in connection with the performance of his duties hereunder; provided that Employee shall, as a condition of such reimbursement, submit verification of the nature and amount of such expenses in accordance with the reimbursement policies from time to time adopted by the Company.

Duties and Performance. (a) During the Employment Periodterm of this Agreement, Employee shall be employed by the Company on a full-time basis as its Vice President General Manager-Mytogen Chief Executive Officer and shall have such authority and shall perform such duties consistent with his position as may be reasonably assigned to him and shall report to the Chief Executive Officer and Chief Development Officer Board of Directors (the "Board of Directors") of the Company or any 2 other person designated by the Board of Directors; provided, however, that without the approval of the Board of Directors, Employee may not, on behalf of the Company, (A) enter into employment arrangements for the Company's employees for any fixed term or duration, (B) borrow funds or make material capital expenditures or commitments, (C) sell common stock or any other security of the Company or acquire or sell any subsidiary of the Company, (D) alter or adopt any employee benefit plans, or (E) adopt or maintain any employee policy or program different from those of the Company on the Effective Date to the extent the Employee is knowledgeable with respect to such policy or program. The Company shall retain full direction and control of the means and methods by which the Employee performs the above services. Employee shall use all reasonable efforts to further the interests of the Company and, except as approved by the Chief Executive Officer, and shall devote substantially all of his business time and attention to his duties hereunder. (b) Except with the prior written approval of the Chief Executive OfficerBoard of Directors (which the Board of Directors may grant or withhold in their sole discretion), Employee, during the Employment Period term of this Agreement or any renewal thereof, will not (i) accept any other employment, (ii) serve on the board of directors or similar body of any other business entity, or (iiiii) engage, directly or indirectly, in any other business activity (whether or not pursued for pecuniary advantage) that is or may be competitive with, or that might place him in a competing position to, that of the Company or any of its Affiliates (as defined in Section 7 hereof)Affiliates. (c) Employee shall be entitled to be reimbursed in accordance with the policies of the Company, as adopted and amended from time to time, for all reasonable standard and necessary expenses incurred by him in connection with the performance of his duties of employment hereunder; provided that Employee shall, as a condition of such reimbursement, submit verification of the nature and amount of such expenses in accordance with the reimbursement policies from time to time adopted by the Company.

Duties and Performance. (a) During the Employment Periodterm of this Agreement, Employee shall be employed by the Company on a full-time basis as its Vice President General Manager-Mytogen and Chief Executive Officer and shall have such authority and shall perform such duties consistent with his position as may be reasonably assigned to him and shall report to the Chief Executive Officer and Chief Development Officer Management Committee of the CompanyCompany (the "Management Committee") or any other person designated by the Management Committee. The Management Committee shall retain full direction and control of the means and methods by which Employee performs the above services. Employee shall use all reasonable efforts to further the interests of the Company and, except as approved by the Chief Executive Officer, and shall devote substantially all of his business time and attention to his duties hereunder. (b) Except with the prior written approval of the Chief Executive OfficerManagement Committee (which the Management Committee may grant or withhold in its sole discretion), Employee, during the Employment Period term of this Agreement or any renewal thereof, will not (i) accept any other employment, or (ii) serve on the board of directors or similar body of any other business entity, (iii) engage, directly or indirectly, in any other business activity (whether or not pursued for pecuniary advantage) that is or may be competitive with, or that might place him in a competing position to, that of the Company or any of its Affiliates (as defined hereinafter defined) or (iv) engage in Section 7 hereof)any venture presented to him by virtue of his position with the Company wherein the profits of such venture are not made available to the Company. (c) Employee shall be entitled to be reimbursed in accordance with the policies of the Company, as adopted and amended from time to time, for all reasonable standard and necessary expenses incurred by him in connection with the performance of his duties of employment hereunder; provided that Employee shall, as a condition of such reimbursement, submit verification of the nature and amount of such expenses in accordance with the reimbursement policies from time to time adopted by the Company.

Duties and Performance. (a) During the Employment Periodterm of this Agreement, Employee shall be employed by the Company on a full-time basis as its Vice President General Manager-Mytogen Chief Financial Officer and shall have such authority and shall perform such duties consistent with his position as may be reasonably assigned to him by, and shall report to to, the Chief Executive Officer and Chief Development Officer of the Company, or any other member of senior management designated by the Board of Directors of the Company; provided, however, that without the approval of the Board of Directors of the Company, Employee may not, on behalf of the Company (A) enter into term employment arrangements for the Company's employees, (B) borrow funds or make material capital expenditures or material commitments, or (C) alter or adopt any employee benefit plans. Employee shall use all reasonable efforts to further the interests of the Company and, except as approved by the Chief Executive Officer, and shall devote substantially all of his business time and attention attentions to his duties hereunder; provided, however, that Employee shall not be required to locate outside the Wakefield, Massachusetts area without Employee's consent. (b) Except with the approval of the Chief Executive Officer, Employee, during the Employment Period or any renewal thereof, will not (i) accept any other employment, or (ii) engage, directly or indirectly, in any other business activity (whether or not pursued for pecuniary advantage) that is or may be competitive with, or that might place him in a competing position to, that of the Company or any of its Affiliates (as defined in Section 7 hereof). (c) Employee shall be entitled to be reimbursed in accordance with the policies of the CompanyEmployee, as adopted and amended from time to time, for all reasonable standard and necessary expenses incurred by him in connection with the performance of his duties of employment hereunder; provided that Employee shall, as a condition of such reimbursement, submit verification of the nature and amount of such expenses in accordance with the reimbursement policies from time to time adopted by the Company.