Employment Directorship Sample Clauses

Employment Directorship. (a) This Agreement supersedes any prior agreement, promise, representation or statement written or otherwise between Executive and the Company, including that Employment Agreement dated as of April 24, 2008. Prior to the Effective Date, Executive shall assist and cooperate in good faith to transition his duties and responsibilities as President and Chief Executive Officer to his successor. This Agreement shall be effective as of the Effective Date and shall remain in effect so long as Executive is employed by Company; provided, however, that the rights and obligations of the parties hereto contained in Articles 6 and 7 of this Agreement, and as otherwise explicitly provided in this Agreement, shall survive any termination of this Agreement until such time as such duty or obligation is satisfied in full. During the term of employment hereunder, Executive shall serve as the Executive Chairman and Chief Scientific Officer of the Company and diligently perform all such services, acts and things as are customarily done and performed by a chief scientific officer and executive chairman of a company of similar size and business as the Company, together with such other duties as may reasonably be requested from time to time by the Board of Directors of the Company (the “Board”). (b) Executive agrees that while Executive remains an employee of the Company according to the terms of this Agreement, Executive’s service as a member of the Board will be at no additional compensation. Upon any termination of Executive’s employment with the Company for any reason, Executive agrees to immediately resign from the Board. Notwithstanding his resignation, the Executive may be appointed or elected to the Board following the termination of employment.
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Employment Directorship. (a) This Agreement shall be effective as of the Effective Date and shall remain in effect so long as Executive is employed by Company; provided, however, that the rights and obligations of the parties hereto contained in Articles 6 and 7 of this Agreement, and as otherwise explicitly provided in this Agreement, shall survive any termination of this Agreement until such time as such duty or obligation is satisfied in full. During the term of employment hereunder, Executive shall serve as the Chief Executive Officer and President of the Company, shall report to the Company’s Board of Directors (the “Board”), and diligently perform all such services, acts and things as are customarily done and performed by a president and chief executive officer of a company of similar size and business as the Company, together with such other duties as may reasonably be requested from time to time by the Board. (b) Executive agrees that while Executive remains an employee of the Company according to the terms of this Agreement, Executive will serve as a member of the Board at no additional compensation. Upon any termination of Executive’s employment with the Company for any reason, Executive agrees to immediately resign from the Board.
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Employment Directorship. (a) Effective as of the Effective Date, Executive shall serve as the President and Chief Executive Officer of Holdings and shall be employed by OpCo, and Executive hereby agrees to accept such employment and agrees to render services to the Company in such capacity (or in such other capacity in the future as the Board may reasonably deem equivalent to such position) on the terms and conditions set forth in this Agreement. Executive shall report to the Board. (b) In addition, Executive shall be appointed to serve on the Board on the Effective Date and, during the Employment Period, the Company shall cause Executive to be nominated to stand for election to the Board at any meeting of stockholders of Holdings during which any such election is held and Executive’s term as director will expire if she is not reelected; provided, however, that (i) the Company shall not be obligated to cause such nomination if any of the events constituting Cause have occurred and not been cured or Executive has issued a Termination Notice and (ii) the stockholders’ failure to reelect Executive shall not constitute a termination of Executive’s employment by the Company without Cause and shall not constitute an event giving rise to Good Reason. (c) Following the Relocation (as defined below), Executive’s primary place of employment shall be at the Principal Executive Office, subject to any “work from home” policies approved by the Board that apply to Executive.
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Employment Directorship. (a) Effective as of March 27, 2013 (the “Effective Date”), the Company shall continue to employ the Executive, and the Executive shall continue to serve the Company, as Chief Executive Officer of the Company upon the terms and conditions set forth herein; it being understood that the Executive was appointed Chief Executive Officer of the Company effective as of December 31, 2012. The Executive shall report directly and exclusively to the Company Board and shall have such authority and responsibilities consistent with his positions as are set forth in the Company’s Bylaws or assigned by the Company Board from time to time and as is customary for the position of chief executive officer of a bank holding company, and, as such, all employees of the Company and its subsidiaries shall report, directly or indirectly, to the Executive. Without limiting the generality of the foregoing, if the expansion of the Relevant Business is implemented through a separate subsidiary of the Company, the Executive, subject to obtaining any necessary prior regulatory approval, shall serve as the chief executive officer of that subsidiary and, as such, shall be the senior most officer of that subsidiary. The Executive shall devote his full business time, attention, skill and efforts to the performance of his duties hereunder, except during periods of illness or periods of vacation and leaves of absence consistent with Company policy. The Executive may devote reasonable periods to service as a director or advisor to other organizations, to charitable and community activities, and to managing his personal investments; provided that such activities do not materially interfere with the performance of his duties hereunder and are not in conflict or competitive with, or adverse to, the interests of the Company or the Bank. The Company acknowledges that the Executive has disclosed to the Company Board certain activities in which he is engaged and agrees that the Executive is expressly permitted to continue those activities. (b) The Company shall nominate the Executive for election as a director at such times as necessary so that the Executive will, if elected by shareholders, remain a director of the Company throughout the Term (as defined below in Section 2). The Executive hereby consents to serving as a director and to being named as a director of the Company in documents filed with the Securities and Exchange Commission. The Company Board shall (i) cause the Bank to seek regulatory ap...
Sample 1
Employment Directorship 
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Related to Employment Directorship

  • Termination of Directorship To the extent the Option becomes exercisable, the Option shall remain exercisable until twelve (12) months following any subsequent termination of directorship with the Company or its subsidiaries for any reason whatsoever but in no event shall the Option be exercisable after the Expiration Date.

  • Directorship The Company shall use its best efforts to cause the Executive to be elected as a member of its Board of Directors throughout the Term and shall include him in the management slate for election as a director at every stockholders meeting during the Term at which his term as a director would otherwise expire. The Executive agrees to accept election, and to serve during the Term, as director of the Company, without any compensation therefor other than as specified in this Agreement.

  • Outside Employment Employees may engage in other employment outside of their State working hours so long as the outside employment does not involve a conflict of interest with their State employment. Whenever it appears that any such outside employment might constitute a conflict of interest, the employee is expected to consult with his/her appointing authority or other appropriate agency representative prior to engaging in such outside employment. Employees of agencies where there are established procedures concerning outside employment for the purpose of insuring compliance with specific statutory restrictions on outside employment are expected to comply with such procedures.

  • Probationary Employment All employees will initially be engaged on a three month probationary period on a Grade as nominated by the employer with monthly reviews during which time the employee's suitability for continued employment will be assessed. During this period the employer undertakes to provide monthly feedback to the employee in terms of the employee's progress. At the end of this three month period or before at the discretion of the employer should performance not be satisfactory the employee's services will be terminated by giving one (1) days notice. Should the employee choose to resign one (1) weeks notice must be provided to the employer. This period can be extended with the mutual agreement of both the employer and employee prior to completion of the probationary period. Upon satisfactory completion of the probationary period, the employee's position will be confirmed in writing

  • Termination of Employment for Cause If Optionee’s employment with the Bancorp or a subsidiary corporation is terminated for cause, this option shall expire thirty (30) days from the date of such termination. Termination for cause shall include, but not be limited to, termination for malfeasance or gross misfeasance in the performance of duties or conviction of a crime involving moral turpitude, and, in any event, the determination of the Board of Directors with respect thereto shall be final and conclusive.

  • Directorship Term The “Directorship Term,” as used in this Agreement, shall mean the period commencing on the Effective Date and terminating on the earlier of the date of the next annual stockholders meeting and the earliest of the following to occur: (a) the death of the Director; (b) the termination of the Director from his membership on the Board by the mutual agreement of the Company and the Director; (c) the removal of the Director from the Board by the majority stockholders of the Company; and (d) the resignation by the Director from the Board.

  • Employment Option If the State determines that it would be in the State’s best interest to hire an employee of the Contractor, the Contractor will release the selected employee from any non-competition agreements that may be in effect. This release will be at no cost to the State or the employee.

  • Re-employment An employee who resigns their position and within 90 days is re-employed, will be granted a leave of absence without pay covering those days absent and will retain all previous rights in relation to seniority and benefits subject to any benefit plan eligibility requirements.

  • Duration of Employment 5.1 A seafarer shall be engaged for the period specified in Appendix 1 to this Agreement and such period may be extended or reduced by the amount shown in Appendix 1 for operational convenience. The employment shall be automatically terminated upon the terms of this Agreement at the first arrival of the ship in port after expiration of that period, unless the Company operates a permanent employment system.

  • Re-employment Rights (1) Re-employment of Faculty Members on layoff status will be administered by the College in accordance with the then-applicable provisions of the Education Code. (2) Faculty Members on layoff who wish to be re-employed shall keep Human Resources apprised in writing of their current mailing addresses and telephone numbers, and of any changes in their qualifications. (3) When actual vacancies occur in any Faculty Service Area, the District shall notify, in seniority order, the laid-off Faculty Member(s) in such Faculty Service Area. This notice shall be sent by certified mail to the Faculty Member's current mailing address on file with Human Resources forty-five (45) days before the contemplated first day of re- employment of the Faculty Member or immediately upon the District learning of such vacancy if within forty-five (45) days of the course/assignment beginning date. The notified Faculty member shall notify the District in writing of his/her acceptance or rejection within ten (10) days of mailing by the District. Failure to do so shall mean the Faculty Member has waived his/her reappointment right to the vacancy stated in the notice from the District. Such Faculty Member shall retain the Faculty Member's seniority position on that Faculty Service Area list for the period of time provided by the Education Code. (4) As to any Faculty Member who is re-employed, the period of absence shall be treated as a leave of absence and shall not be considered as a break in the continuity of service, and such Faculty Member shall retain all rights to contract or regular status, as the case may be, in accordance with the applicable provision of the Education Code, including the requirement of four (4) years' active service for eligibility to move from a contract position to a regular position. (5) All partially or completely laid-off Faculty Members, upon any partial reinstatement, shall be paid the pro-rata salary equivalent to their step and column placement on the permanent salary schedule at the time of their layoff.

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