Common use of Elective Positions Clause in Contracts

Elective Positions. Nothing contained in this Agreement is intended to nor shall be construed to abrogate, limit or affect the powers, rights and privileges of the Board of Directors or stockholders to remove Employee from the positions set forth in paragraph 1, with or without just cause, during the term of this Agreement or to elect someone other than Employee to those positions, as provided by law and the By-Laws of Employer; provided, however, that if Employee is so removed without cause, it is expressly understood and agreed, in the event any one or combination of the foregoing occurs, Employee's rights under this Agreement shall in no way be prejudiced, and Employee shall be entitled to receive compensation referred to in paragraph above, except ungranted stock options, provided that he is ready, willing and able to perform the duties and responsibilities set forth above. Notwithstanding the foregoing, the election or appointment of Employee to a different executive position shall not be considered removal hereunder. Employee upon removal shall be entitled to pursue other employment, and Employer shall be entitled to receive as offset and thereby reduce its payment, the amount received by Employee from any other active employment (other than the moneys received by Employee from Manor Care as contemplated in paragraph 4 above). As a condition to Employee receiving his compensation from Employer, Employee agrees to furnish Employer annually with full information regarding such other employment and to permit verification of his employment records and Federal income tax returns by an independent attorney or accountant. Employer shall receive credit for unemployment insurance benefits, social security insurance or like amounts actually received by Employee.

Elective Positions. Nothing contained in this Agreement is intended to nor shall be construed to abrogate, limit or affect the powers, rights and privileges of the Board of Directors or stockholders to remove Employee from the positions set forth in paragraph 1as Chief Financial Officer, with or without just cause, during the term of this Agreement or to elect someone other than Employee to those positionsthat position, as provided by law and the By-Laws of Employer; provided, however, that if Employee is so removed without cause, it is expressly understood and agreed, in the event any one or combination of the foregoing occurs, Employee's rights under this Agreement shall in no way be prejudiced, prejudiced and Employee shall shall, nevertheless, be entitled to receive compensation referred to in paragraph 3 above, except ungranted any right to receive new stock optionsoption grants, provided that so long as he is ready, willing and able to perform the duties and responsibilities set forth above. Notwithstanding the foregoing, the election or appointment of Employee to a different executive position shall not be considered removal hereunder. Employee upon removal shall be entitled to pursue other employment, and Employer shall be entitled to receive as offset and thereby reduce its payment, the amount received by Employee from any other active employment (other than the moneys received by Employee from Manor Care as contemplated in paragraph 4 above). As a condition to Employee receiving his compensation from Employer, Employee agrees to furnish Employer annually with full information regarding such other employment and to permit verification inspection of his records at any such employment records and copies of his Federal income tax returns by an independent attorney or accountantreturns. Employer shall receive credit for unemployment insurance benefits, social security insurance or like amounts actually received by Employee.

Elective Positions. Nothing contained in this Agreement is intended ------------------ to nor shall be construed to abrogate, limit or affect the powers, rights and privileges of the Board of Directors or stockholders to remove Employee from the positions set forth in paragraph 1, with or without just cause, during the term of this Agreement or to elect someone other than Employee to those positions, as provided by law and the By-Laws of Employer; provided, however, that if Employee is so removed without cause, it is expressly understood and agreed, in the event any one or combination of the foregoing occurs, Employee's rights under this Agreement shall in no way be prejudiced, and Employee shall be entitled to receive compensation referred to in paragraph above, except ungranted stock options, provided that he is ready, willing and able to perform the duties and responsibilities set forth above. Notwithstanding the foregoing, the election or appointment of Employee to a different executive position shall not be considered removal hereunder. Employee upon removal shall be entitled to pursue other employment, and Employer shall be entitled to receive as offset and thereby reduce its payment, the amount received by Employee from any other active employment (other than the moneys received by Employee from Manor Care and Choice as contemplated in paragraph 4 above). As a condition to Employee receiving his compensation from Employer, Employee agrees to furnish Employer annually with full information regarding such other employment and to permit verification of his employment records and Federal income tax returns by an independent attorney or accountant. Employer shall receive credit for unemployment insurance benefits, social security insurance or like amounts actually received by Employee.

Elective Positions. Nothing contained in this Agreement is intended ------------------ to nor shall be construed to abrogate, limit or affect the powers, rights and privileges of the Board of Directors or stockholders to remove Employee from the positions set forth in paragraph 1, with or without just cause, during the term of this Agreement or to elect someone other than Employee to those positions, as provided by law and the By-Laws of Employer; provided, however, that if Employee is so removed without cause, it is expressly understood and agreed, in the event any one or combination of the foregoing occurs, Employee's rights under this Agreement shall in no way be prejudiced, and Employee shall be entitled to receive compensation referred to in paragraph above, except ungranted stock options, provided that he is ready, willing and able to perform the duties and responsibilities set forth above. Notwithstanding the foregoing, the election or appointment of Employee to a different executive position shall not be considered removal hereunder. Employee upon removal shall be entitled to pursue other employment, and Employer shall be entitled to receive as offset and thereby reduce its payment, the amount received by Employee from any other active employment (other than the moneys received by Employee from Manor Care and Sunburst as contemplated in paragraph 4 above). As a condition to Employee receiving his compensation from Employer, Employee agrees to furnish Employer annually with full information regarding such other employment and to permit verification of his employment records and Federal income tax returns by an independent attorney or accountant. Employer shall receive credit for unemployment insurance benefits, social security insurance or like amounts actually received by Employee.