Common use of Duties and Status Clause in Contracts

Duties and Status. (a) The Company has engaged the Executive as President and Chief Executive Officer for the period specified in Section 4 hereof (the "Employment Period"). The Executive has accepted such employment on the terms and conditions set forth in this Agreement. During the Employment Period, the Executive shall exercise such authority, have such responsibilities, status, offices, titles and reporting relationships and perform such duties as are commensurate with the office of president and chief executive officer of a public real estate investment trust and its Affiliated Companies and also at least commensurate in all material respects with the most significant of those responsibilities, status, offices, titles, reporting relationships and duties held, exercised and assigned at any time during the 120-day period immediately preceding the Effective Date of a Change in Control. The Executive's services shall be performed at the Company's principal executive offices in Atlanta, Georgia or at any office or location not more than 35 miles from such offices. (b) During the Employment Period, and excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees to devote reasonable attention and time during normal business hours to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities assigned to the Executive hereunder, to use the Executive's reasonable best efforts to perform faithfully and efficiently such responsibilities. During the Employment Period it shall not be a violation of this Agreement for the Executive to (x) serve on corporate, civic or charitable boards or committees, (y) engage in other business activities that do not represent a conflict of interest with his duties to the Company, or (z) manage personal investments, so long as such activities do not significantly interfere with the performance of the Executive's responsibilities as an employee of the Company in accordance with this Agreement. It is expressly understood and agreed that to the extent that any such activities have been conducted by the Executive prior to the Effective Date of a Change in Control, the continued conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Effective Date of a Change in Control shall not thereafter be deemed to interfere with the performance of the Executive's responsibilities to the Company.

Appears in 1 contract

Samples: Employment Agreement (Irt Property Co)

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Duties and Status. (a) The Company has engaged hereby engages the Executive Employee as President and Chief Executive Officer the ------------------- General Manager for the period specified in Section 4 hereof (the "Employment Period"). The Executive has accepted such employment Company on the terms and conditions set forth in this Agreement. During the Employment PeriodTerm, the Executive Employee shall exercise such authority, have such responsibilities, status, offices, titles and reporting relationships and perform such duties and functions and discharge such responsibilities as are commensurate reasonably associated with the office of president and chief executive officer of a public real estate investment trust and its Affiliated Companies and also at least commensurate in all material respects with the most significant of those responsibilities, status, offices, titles, reporting relationships and duties held, exercised and assigned at any time during the 120-day period immediately preceding the Effective Date of a Change in ControlPresident position. The Executive's services Employee shall be performed report directly to a designee of the Board of Directors of the Company and shall perform his duties at the direction of the Company's principal executive offices Board of Directors. The Employee's duties shall include, but are not limited to, overseeing the daily operations of the Company, marketing, sales, managing customer service, dealing with vendors and suppliers, building alliances and partnerships, and directing other employees as necessary. The Employee shall also act as, and perform the duties of, President of Commodity Express Brokerage ("CEB"). During the Term, the Employee shall devote his full business time, skill and efforts to the business of the Company, except as provided below. However, nothing shall prohibit the Employee from engaging in Atlantacharitable and civic activities and managing his personal passive investments, Georgia provided that such passive investments are not in a company which competes in a business similar to that of the Company's business. (a) Without limiting the generality of the foregoing, the Employee covenants to perform the employment duties called for hereby in good faith, devoting substantially all business time, energies and abilities thereto and will not engage in any other business or at commercial activities for any office person or location not more than 35 miles from such officesentity without the prior written consent of the Company. The Company hereby acknowledges and consents to Employee's devoting time and services associated with work for TPS Logistics, Inc., Xxxxxx Logistics Consulting and Commodity Express Transportation, Incorporated of South Carolina during the Term of this Agreement. (b) During The Employee shall not take any action which would in any way adversely affect the Employment Periodreputation, and excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees to devote reasonable attention and time during normal business hours to the business and affairs standing or prospects of the Company andor its parent or affiliated companies, including Power2Ship, Inc. and Power2Ship Holdings, Inc. (as defined below) or which would cause the Company to the extent necessary to discharge the responsibilities assigned to the Executive hereunder, to use the Executive's reasonable best efforts to perform faithfully and efficiently such responsibilities. During the Employment Period it shall not be a in violation of this Agreement for the Executive to (x) serve on corporate, civic or charitable boards or committees, (y) engage in other business activities that do not represent a conflict of interest with his duties to the Company, or (z) manage personal investments, so long as such activities do not significantly interfere with the performance of the Executive's responsibilities as an employee of the Company in accordance with this Agreement. It is expressly understood and agreed that to the extent that any such activities have been conducted by the Executive prior to the Effective Date of a Change in Control, the continued conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Effective Date of a Change in Control shall not thereafter be deemed to interfere with the performance of the Executive's responsibilities to the Companyapplicable laws.

Appears in 1 contract

Samples: Employment Agreement (Power2ship Inc)

Duties and Status. (a) The Company has engaged the hereby engages Executive as Senior Vice President and Chief Executive Officer for the period specified in Section 4 hereof (the "Employment Period"). The Executive has accepted such employment General Counsel on the terms and conditions set forth in this Agreement. During the Employment Period, Executive shall report directly to the Chief Executive Officer (“CEO”) and President of the Company. Executive shall exercise such authority, have such responsibilities, status, offices, titles and reporting relationships and perform such executive duties and functions and discharge such executive responsibilities as are commensurate reasonably associated with the office of president and chief executive officer of a public real estate investment trust and its Affiliated Companies and also at least commensurate in all material respects Executive’s position, consistent with the most significant of those responsibilities, status, offices, titles, reporting relationships and duties held, exercised and assigned at any time during the 120-day period immediately preceding the Effective Date of a Change in Control. The Executive's services shall be performed at the Company's principal executive offices in Atlanta, Georgia or at any office or location not more than 35 miles from such offices. (b) During the Employment Period, and excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees to devote reasonable attention and time during normal business hours to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities assigned to officers of companies comparable to the Company, commensurate with the authority vested in Executive hereunderpursuant to this Agreement and consistent with the Charter and Bylaws of the Company. Without limiting the generality of the foregoing, Executive shall undertake his duties in a manner consistent with the best interests of the Company and its subsidiaries and shall perform his duties to use the Executive's reasonable best of his ability and in a diligent and proper manner. Executive shall perform all duties, services and responsibilities in accordance with the guidelines, policies and procedures established by the Company’s Board of Directors, from time to time. Executive further agrees to devote his entire business time, attention, full skill and best efforts to perform faithfully the interests and efficiently such responsibilitiesbusiness of the Company. During Notwithstanding the Employment Period foregoing or any other provision of this Agreement, it shall not be a breach or violation of this Agreement for the Executive to (xi) serve on corporatecorporate (subject to approval of the CEO), civic or charitable boards or committees, (yii) engage in deliver lectures, fulfill speaking engagements or teach at educational institutions, (iii) undertake pro xxxx or other business activities that do not represent a conflict of interest with his duties to the Company, or (z) manage personal investmentsuncompensated legal projects, so long as such activities do not (A) result in a conflict of interest (as determined in accordance with Rule 1.7 of the New York Rules of Professional Responsibility) with the affairs of the Company or (B) significantly interfere with or significantly detract from the performance of the Executive's ’s responsibilities as an employee of to the Company in accordance with this Agreement; or (iv) engage in the Non-Xxxxxx Work contemplated by Section 19 (Relocation and the Transition Period), below. It The Company acknowledges that the Executive is expressly understood licensed to practice law in the States of New York and agreed that Utah only, and the Executive agrees to apply for and maintain such licenses as are required to practice law as an in-house counsel in the extent that any State of Tennessee (within such activities have been conducted time frames are required by the Executive prior to the Effective Date of a Change in Controlapplicable laws, the continued conduct of such activities (or the conduct of activities similar in nature regulations and scope thereto) subsequent to the Effective Date of a Change in Control shall not thereafter be deemed to interfere with the performance rules of the State of Tennessee and the Bar of Tennessee). The Executive will continue to maintain his New York law license (and, when granted, Tennessee license), but shall be free, at Executive's responsibilities ’s sole option, to surrender or retire his license to practice law in the CompanyState of Utah.

Appears in 1 contract

Samples: Employment Agreement (Miller Energy Resources, Inc.)

Duties and Status. (a) The Company has engaged the hereby engages Mr. Wright as its Chief Financial Officer and a member of thx Xxxxxxx's Executive as President and Chief Executive Officer for the period specified in Section 4 hereof (the "Employment Period"). The Executive has accepted such employment Committee on the terms and conditions set forth in this Agreement. During the Employment Period, Mr. Wright shall report directly to the Chief Executive shall Officer of thx Company, or in his absence, the Chairman and exercise such authority, have such responsibilities, status, offices, titles and reporting relationships and perform such executive duties and functions and discharge such responsibilities as are reasonably associated with Mr. Wright's position, commensurate with the office authority vestex xx Xx. Xxxght pursuant to this Agreement and consistent with thx xxxxxxxxg documents of president the Company. These duties include, but may not be limited to, (i) structuring and chief executive officer obtaining capital from varied sources to facilitate the growth of a public real estate investment trust the Company, (ii) supervision and its Affiliated Companies review of financial reporting, and also at least commensurate in all material respects (iii) acquisition of and negotiation with strategic business partners. Mr. Wright shall work with the most significant Chief Executive Officer to dexxxxxxx xxat additional responsibilities Mr. Wright shall perform, commensurate with Mr. Wright's posxxxxx xx xhe Chief Financial Officer of those responsibilities, status, offices, titles, reporting relationships and duties held, exercised and assigned at any time during the 120-day period immediately preceding the Effective Date of a Change in ControlXxxxxxx. The Executive's services shall be performed at the Company's principal executive offices in Atlanta, Georgia or at any office or location not more than 35 miles from such offices. (b) During the Employment Period, Mr. Wright shall devote substantially all of his business tixx (xxxxxxm of 5 days per week), skill and excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees to devote reasonable attention and time during normal business hours efforts to the business and affairs of the Company andCompany. Notwithstanding the preceding sentence, Mr. Wright may make and manage personal business investments of his xxoice, continue to the extent necessary to discharge the responsibilities assigned to the Executive hereunder, to use the Executive's reasonable best efforts to perform faithfully and efficiently such responsibilities. During the Employment Period it shall not be serve as a violation director of this Agreement for the Executive to (x) serve on corporate, civic or charitable boards or committees, (y) engage in other business activities that do not represent a conflict of interest with his duties to the Company, TRI Advisors, Ltd., a Bermuda Corporation, 3C Corporation, a Nevada corporation, Accounts Receivable, Inc., an Illinois corporation (and any successors to any of them) and up to two other corporations (not counting the Company or (zany affiliates of the Company) manage personal investmentsof his choice and serve in any capacity with any civic, so long as educational or charitable organization, or any trade association, without seeking or obtaining the approval of the Board of Directors or the Chief Executive Officer, provided such activities and service do not significantly materially interfere or conflict with the performance of the Executive's responsibilities as an employee of the Company in accordance with this Agreement. It is expressly understood and agreed that to the extent that any such activities have been conducted by the Executive prior to the Effective Date of a Change in Control, the continued conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Effective Date of a Change in Control shall not thereafter be deemed to interfere with the performance of the Executive's responsibilities to the Companyhis duties hereunder.

Appears in 1 contract

Samples: Executive Employment Agreement (Lti Holdings Inc)

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Duties and Status. (a) 1.1.1. The Company has engaged Corporation hereby engages the Executive as President and Chief Executive Officer a full-time executive employee for the period (the “Employment Period”) specified in Section 4 hereof (and the "Employment Period"). The Executive has accepted accepts such employment employment, on the terms and conditions set forth in this Agreement. During the Employment Period, the Executive shall exercise such authority, have such responsibilities, status, offices, titles and reporting relationships authority and perform such executive duties as are commensurate with the office of president and chief executive officer of a public real estate investment trust and its Affiliated Companies and also at least commensurate in all material respects with the most significant of those responsibilities, status, offices, titles, reporting relationships authority being exercised and duties held, exercised and assigned at any time during being performed by the 120-day period Executive for the Corporation immediately preceding prior to the Effective Date effective date of a Change in Control. The Executive's services shall be performed at the Company's principal executive offices in Atlanta, Georgia or at any office or location not more than 35 miles from such officesthis Agreement. (b) 1.1.2. During the Employment Period, and excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees to shall (i) devote reasonable attention his full time and time during normal business hours efforts to the business and affairs of the Company andCorporation and its subsidiaries or affiliates, to the extent necessary to discharge the responsibilities assigned to the Executive hereunderincluding, to use the Executive's reasonable best without limitation, efforts to perform faithfully commercialize its non—fattening sugar and/or other products and efficiently such responsibilities. During the Employment Period it shall will not be a violation of this Agreement for the Executive to (x) serve on corporate, civic or charitable boards or committees, (y) engage in consulting work or any trade or business for his own account or for or on behalf of any other business activities that do not represent a conflict of interest with his duties to the Companyperson, firm or (z) manage personal investmentscorporation which competes, so long as such activities do not significantly interfere conflicts or interferes with the performance of his duties hereunder in any way and (ii) accept such additional office or offices to which he may be elected by the Executive's responsibilities as an employee Board of Directors of the Company in accordance with this Agreement. It is expressly understood and agreed Corporation or its subsidiaries or affiliates, including, without limitation, any joint venture or subsidiary formed to commercialize the Company’s non—fattening sugar and/or other products, provided that to the extent that any such activities have been conducted by the Executive prior to the Effective Date of a Change in Control, the continued conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Effective Date of a Change in Control shall not thereafter be deemed to interfere with the performance of the Executive's responsibilities duties of such office or offices shall be consistent with the scope of the duties provided for in Section 1.1.1. 1.1.3. The Executive shall be required to perform the services and duties provided for in Section 1.1.1. only at the location where the Executive was employed immediately prior to the Companyeffective date of this Agreement or such other location of the principal executive offices of the Corporation in the Washington, D.C. greater metropolitan area as the Board of Directors of the Corporation may designate, and/or scheduled telecommuting via the internet from home as approved by the Compensation Committee and the Board of Directors of the Company at their May 15, 2002, Meetings. The Executive shall be entitled to vacation, leave of absence, and leave for illness or temporary disability in accordance with the policies of the Corporation in effect, which shall not be less favorable than those in effect at the date of this Agreement; and any leave on account of illness or temporary disability which is short of total disability, as defined in the Corporation’s long-term disability insurance plan (“Total Disability”), shall not constitute a breach by the Executive of his agreements hereunder.

Appears in 1 contract

Samples: Employment Agreement (Spherix Inc)

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