Employment as Interim Manager Sample Clauses

Employment as Interim Manager. (a) Effective as of the date hereof, WellTech agrees to employ Key, and Key agrees to accept employment with WellTech, as interim manager of WellTech's business, property and operations on the terms and conditions set forth in this Agreement. It is the intent of the parties that Key shall, subject to the limitations set forth herein, manage and oversee all aspects of WellTech's business, property and operations and shall have the specific rights and responsibilities set forth in this Article I. (b) Notwithstanding anything to the contrary in this Agreement: (i) Prior to the execution of the New Credit Facility Documents by Key and WellTech, Key shall obtain the consent of the committee of WellTech's Board of Directors comprised of Kevin Collins and Phillip Marcum and charged with oversight of thxx Xxxxxxxxx (the "XxxxXxxx Xnterim Committee") prior to: (A) extending, terminating or entering into any material lease on behalf of WellTech; (B) hiring or terminating executive or other key employees of WellTech; (C) entering into or terminating material contracts on behalf of WellTech; (D) making, accepting or committing to make or accept any loan on behalf of WellTech; or (E) entering into any material transactions outside the ordinary course of WellTech's business; (ii) Throughout the term of this Agreement: (A) Key shall consult regularly with the WellTech Interim Committee concerning the business, property and operations of WellTech and shall promptly furnish such oral and written reports to the WellTech Interim Committee as it may reasonably request; (B) Key shall take no action requiring approval of WellTech's Board of Directors under Applicable Law or WellTech's Organic Documents without first obtaining consent of the WellTech Interim Committee; and (C) Key shall obtain consent of the WellTech Interim Committee prior to (1) hiring or terminating executive or other key employees of WellTech; (2) making, accepting or committing to make or accept any loan on behalf of WellTech; or (3) entering into any material transactions outside the ordinary course of WellTech's business; (c) WellTech and Key agree that (i) Key is an independent contractor and is not nor shall be deemed to be a partner, joint venturer or principal with respect to the ownership or operation of WellTech or its assets, and (ii) Key shall have no liability to and shall not by virtue of this Agreement be deemed to have assumed any liability to any creditors of or holders of claims against Well...
Sample 1
AutoNDA by SimpleDocs

Related to Employment as Interim Manager

  • Continuing Employment (a) Continuing employment means full-time or fractional-time employment that does not have a fixed end date or a contingency upon which the employment contract will come to an end. (b) All employment other than fixed-term employment and casual employment will be continuing employment. (c) Notwithstanding subclause 16.0(b) above, the University may employ a person in Continuing (Contingent Funded Research) employment on a full-time or fractional-time basis in accordance with the terms of this Agreement.

  • TERMINATION OF EMPLOYMENT CONTRACT This Contract shall terminate, the Lead Groundsman employment shall cease, and no salary shall be paid, under any one of the following circumstances:

  • Employment Duties (a) Subject to the terms and conditions set forth herein, the Company hereby employs the Executive to act for the Company during the Employment Period in the capacity set forth on Schedule A hereto, and the Executive hereby accepts such employment. The duties and responsibilities of the Executive shall include such duties and responsibilities appropriate to such office and as are normally associated with and appropriate for such position and as the Company’s board of directors (the “Board”) may from time to time reasonably assign to the Executive. (b) Executive recognizes that during the period of Executive’s employment hereunder, Executive owes an undivided duty of loyalty to the Company, and Executive will use Executive’s good faith efforts to promote and develop the business of the Company and its subsidiaries (the Company’s subsidiaries from time to time, together with any other affiliates of the Company, the “Affiliates”). Executive shall devote all of Executive’s business time, attention and skills to the performance of Executive’s services as an executive of the Company. Recognizing and acknowledging that it is essential for the protection and enhancement of the brand name, reputation and business of the Company and the goodwill pertaining thereto, Executive shall perform the Executive’s duties under this Agreement professionally, in accordance with the applicable laws, rules and regulations and such standards, policies and procedures established by the Company and the industry from time to time. (c) However, the parties agree that: (i) Executive may devote a reasonable amount of his time to civic, community, or charitable activities and may serve as a director of other corporations (provided that any such other corporation is not a competitor of the Company, as determined by the Board) and to other types of business or public activities not expressly mentioned in this paragraph and (ii) Executive may participate as a non-employee director and/or investor in other companies and projects as disclosed by Executive to, and approved by, the Board, so long as Executive’s responsibilities with respect thereto do not conflict or interfere with the faithful performance of his duties to the Company.

  • Employment Contract The Company and Executive acknowledge that the terms of his employment are set forth in this Agreement. If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, award or compensation other than as provided in this Agreement, or as may otherwise be available in accordance with the Company’s established written plans and written policies at the time of termination.

  • Term of Employment and Termination The Company and Executive acknowledge that Executive's employment is and shall continue to be at-will, as defined under applicable law, and that Executive's employment with the Company may be terminated by either Party at any time for any or no reason (subject to the notice requirements of this Section 4). This "at-will" nature of Executive's employment shall remain unchanged during Executive's tenure as an employee and may not be changed, except in an express writing signed by Executive and a duly authorized officer of the Company. The term of this Agreement and Executive’s employment hereunder shall commence on the Effective Date and continue until terminated as set forth in this Section 4. The date on which Executive’s employment terminates, as determined by the Company, regardless of the reason, shall be referred to herein as the “Separation Date.” Upon termination of Executive's employment for any reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any of its subsidiaries.

  • Employment of Custodian The Fund hereby employs and appoints the Custodian as a custodian for the term and subject to the provisions of this Agreement. The Custodian shall not be under any duty or obligation to require the Fund to deliver to it any securities or funds owned by the Fund and shall have no responsibility or liability for or on account of securities or funds not so delivered. The Fund will deposit with the Custodian copies of the Declaration of Trust or Certificate of Incorporation and By-Laws (or comparable documents) of the Fund and all amendments thereto, and copies of such votes and other proceedings of the Fund as may be necessary for or convenient to the Custodian in the performance of its duties.

  • Termination of Employment Agreement Employee and Company hereby acknowledge and agree that the Employment Agreement is hereby terminated and of no further force and effect and except as otherwise set forth herein, Employee shall not be entitled to any payment in the nature of severance, Change of Control or termination pay from the Company, and that the terms set forth herein is in full satisfaction of all obligations owed to Employee.

  • Employment Services The Company shall employ the Executive, and the Executive agrees to be so employed, in the capacity of the Vice President, Operations of the Company to serve for the Term hereof, subject to earlier termination as hereinafter provided. The Executive shall assume and discharge such duties and responsibilities as are commensurate with the Executive’s position. The Executive shall be a full-time employee of the Company and shall exert his best efforts and devote substantially all of his business time and attention to the Company’s affairs and the performance of his duties hereunder.

  • of the Employment Agreement Section 4.4.3 of the Employment Agreement is hereby amended and restated in its entirety to read as follows:

  • OBLIGATIONS SURVIVE TERMINATION OF EMPLOYMENT Executive agrees that any and all of Executive’s obligations under this Agreement, including but not limited to Exhibits B and C, shall survive the termination of employment and the termination of this Agreement.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!