Position, Duties & Compensation Sample Clauses
Position, Duties & Compensation. (A) Beginning on December 1, 1999, the Company shall employ Executive in the position of Executive Vice President and Chief Financial Officer on an at-will basis, and Executive accepts such employment on the terms and conditions hereinafter set forth During his employment, Executive shall devote his entire business time and all reasonable efforts to his employment, shall perform diligently such duties as are customarily performed by the Chief Financial Officer of a company the size and structure of the Company, and shall perform diligently such other duties as may be assigned from time to time.
(B) In consideration for the services to be rendered by Executive pursuant to this Agreement, the Company shall pay Executive at a rate of One Hundred and Sixty Thousand dollars ($160,000) per year during the first year of this Agreement. For any subsequent years of this Agreement, Executive's salary rate shall be subject to annual review. Executive's salary shall be payable to Executive in accordance with the Company's regular payroll practices applicable to senior management personnel.
(C) If Executive is on the company's payroll as an employee on August 1 of any year including 2000 and after, Executive shall be entitled to additional compensation in the amount of $20,000, paid in a lump sum.
Position, Duties & Compensation. During the Term, Executive will serve as Senior Vice President and General Counsel of the Company and as an officer or director of any subsidiary or affiliate of the Company if elected to any such position by the stockholders or by the board of directors of any such subsidiary or affiliate, as the case may be. In such capacities, Executive shall perform such duties and shall have such responsibilities as are normally associated with such positions, and other duties commensurate with your position as otherwise may be assigned to Executive from time to time by the Chief Executive Officer of the Company (the “CEO”), to whom Executive will report, or by the board of directors of the Company (the “Board”). Subject to Section 4(e) hereof, Executive’s functions, duties and responsibilities are subject to reasonable changes as the Company may in good faith determine from time to time. Executive hereby agrees to accept such employment and to serve the Company and its subsidiaries and affiliates to the best of Executive’s ability in such capacities, devoting all of Executive’s business time to such employment. The Company and Executive agree that Executive may continue (i) his current nonprofit/charitable activities as set forth in Exhibit A hereto, (ii) charities approved by the CEO, (iii) to serve on boards or similar bodies with the approval of the CEO and (iv) to oversee his and his family’s passive investments, each in a manner that does not materially conflict or unreasonably interfere with Executive’s responsibilities to the Company.
Position, Duties & Compensation. During the Term, Executive will serve as Senior Vice President and General Counsel of the Company and as an officer or director of any subsidiary or affiliate of the Company if elected to any such position by the stockholders or by the board of directors of any such subsidiary or affiliate, as the case may be. In such capacities, Executive shall perform such duties and shall have such responsibilities as are normally associated with such positions, and as otherwise may be assigned to Executive from time to time by the Chief Executive Officer of the Company, to whom Executive will report, or upon the authority of the board of directors of the Company (the “Board”). Subject to Section 4(e) hereof, Executive’s functions, duties and responsibilities are subject to reasonable changes as the Company may in good faith determine from time to time. Executive hereby agrees to accept such employment and to serve the Company and its subsidiaries and affiliates to the best of Executive’s ability in such capacities, devoting all of Executive’s business time to such employment. As part of Executive’s responsibilities, the Compliance and Legal functions will report to Executive and Executive will be responsible for all legal affairs of the Company worldwide.