Executives Duties and Obligations. Executive shall serve as President and Chief Executive Officer of the Company. The Company shall use reasonable efforts to have Executive elected to the Company’s Board of Directors (the “Board of Directors”) during the term of this Agreement. Executive shall perform such duties and functions as are customary to such offices and as shall from time to time be reasonably assigned to him by the Company’s Board of Directors (the “Board of Directors”). Executive shall at all times report to, and shall be subject to the policies established by, the Board of Directors and shall discharge his responsibilities in a competent and faithful manner, consistent with sound business practices, the Company’s Code of Ethics and applicable laws and regulations.
Executives Duties and Obligations. (i) The Executive agrees to immediately return to work and to cooperate fully with the Company in the performance of his duties as the Chief Financial Officer at all times up to and including the Termination Date. The Executive agrees to work in cooperation with Company staff and personnel assigned to his area and with the Company's independent auditors and accountants.
(ii) The Executive agrees to cooperate fully with the Company and any independent firm retained by the Company to conduct a reserve study at all times up to and including the Termination Date.
(iii) The Executive agrees to take all actions necessary for the completion of the Company's year 2001 audited financial statements by March 31, 2002 and to use his best efforts to meet the Company's financial projections unless otherwise required by generally accepted accounting or actuarial principles.
(iv) The Executive agrees to cooperate with and participate as a member of a committee designated to search for a candidate to replace him as the Chief Financial Officer after the Termination Date. The Executive further agrees to cooperate in any transition plan initiated by the Company with respect to the appointment of a Chief Financial Officer.
(v) The Executive agrees that he shall, prior to the Termination Date, take all such actions as are necessary to insure that the Company's staff and personnel with responsibility for financial matters are sufficiently informed of and oriented with the Company's financial status and financial transactions affecting the Company.
Executives Duties and Obligations. Notwithstanding any provision of that certain Employment Agreement by and between Executive and the Company dated January 1, 2002 (the “Employment Agreement”) to the contrary, during the Transition Period, Executive shall perform such duties as the President of the Company shall reasonably request, which duties shall primarily consist of matters related to the transition of his present duties, responsibilities and obligations to one or more individuals designated by the Board or the President. The parties hereto acknowledge that Executive shall perform such duties on a substantially full time basis prior to November 1, 2005, and, thereafter, such duties shall be performed at such time or times as the President shall reasonably request.
Executives Duties and Obligations
