Employment and Duties; Board Appointment. In accordance with actions taken and authorized by the Board of Directors of the Company (the "Company Board"), effective upon the arrival of Employee at the principal offices of the Company on March 1, 1995 prepared to commence his duties hereunder, Employee shall become employed and appointed as the President and Chief Executive Officer of the Company and shall have the duties and responsibilities commensurate with such titles and offices, including, without limitation, all such duties and responsibilities as now are or hereafter may be set forth with respect to such offices in the by-laws of the Company. As promptly as practicable following the commencement of Employee's duties hereunder, the Company Board shall take necessary and appropriate action to appoint Employee as a director of the Company. During the period of his employment hereunder, Employee also shall serve as an officer of such other affiliates of the Company and in such other capacities as he may be requested by the Company Board and shall assume such additional duties and responsibilities as from time to time may be assigned to him by the Company Board, all without additional compensation therefor. Throughout the period of his employment hereunder, Employee shall devote his business time, attention, and energy on a full-time basis (subject to up to five weeks of vacation to be taken at reasonable intervals during the year) exclusively to the affairs of the Company and its affiliates.
Employment and Duties; Board Appointment. In accordance with actions taken and authorized by the Board of Directors of the Company (the "Company Board"), effective upon the Closing of the transactions provided for in the Stock Purchase Agreement dated August 10, 2004 between the Company and NCFC Recapitalization, LLC (the "Effective Date") Executive shall become employed and appointed as the Executive Vice President and Chief Financial Officer of the Company and the Bank and shall have the duties and responsibilities commensurate with such titles and offices, including, without limitation, all such duties and responsibilities as now are or hereafter may be set forth with respect to such offices in the bylaws of the Company. In the event, for whatever reason, Executive is not elected by the Company's shareholders to the Company Board prior to the Effective Date, then as promptly as practicable following the Effective Date, the Company Board shall take necessary and appropriate action to appoint Executive as a director of the Company and the Bank. During the period of his employment hereunder, Executive also shall serve as an officer of such other affiliates of the Company and in such other capacities as he may be requested by the Company Board and shall assume such additional duties and responsibilities as from time to time may be assigned to him by the Company Board, all without additional compensation therefor. Excluding any periods of vacation (not less than 6 weeks per year) and sick leave to which the Executive is entitled, the Executive agrees to devote his primary 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 (a) serve on corporate, civic or charitable boards or committees, (b) deliver lectures, fulfill speaking engagements or teach at educational institutions and (c) own, operate and manage investments or businesses other than banking institutions, including Mackinac Partners, LLC, so long as such activities do not interfere with the performance of the Executive's primary responsibilities as an executive of the Company in accordance with this Agreement. It is expressly understood and agreed that, to the extent that any such activities have been co...
Employment and Duties; Board Appointment. In accordance with actions taken and authorized by the Board of Directors of the Company (the "Company Board"), effective upon the arrival of Employee at the principal offices of the Company on November 9, 1998 prepared to commence his duties hereunder, Employee shall become employed and appointed as the President and Chief Executive Officer of the Company and shall have the duties and responsibilities commensurate with such titles and offices, including, without limitation, all such duties and responsibilities as now are or hereafter may be set forth with respect to such offices in the by-laws of the Company. The Board has also taken the appropriate action to appoint Employee as a director of the Company effective November 9,
Employment and Duties; Board Appointment. In accordance with actions taken and authorized by the Board of Directors of Employer (the "Employer Board"), effective at the Closing Date, Employee shall be appointed as an officer of Employer with the title of Vice President and General Manager of the Deco Group and shall have the duties and responsibilities commensurate with such title and office. During the period of his employment hereunder, Employee also shall serve as an officer of such other affiliates of Employer and in such other capacities consistent with the above referenced position, title and office as he may be requested by the President and Chief Executive Officer of Employer from time to time, and shall assume such additional duties and responsibilities consistent with the above referenced position, title and office as from time to time may be assigned to him by the President and Chief Executive Officer of Employer, all without additional compensation therefor. Employee shall report directly to the President and Chief Executive Officer of Employer. Throughout the period of his
