Common use of Position, Duties, Responsibilities and Authority Clause in Contracts

Position, Duties, Responsibilities and Authority. During the Term (as defined in Section 2.01 below), Executive shall serve as Chief Financial Officer of Employer and shall have such responsibilities, duties and authority consistent with such position as may, from time to time, be assigned by the Board of Directors of Employer (the “Board”), the Chief Executive Officer of Employer (the “CEO”) and/or the CEO’s nominee. In Executive’s capacity as Chief Financial Officer of Employer, Executive shall report directly to the CEO. Executive’s employment by Employer shall be full-time and exclusive to Employer and Executive shall serve Employer faithfully and to the best of Executive’s ability. During the Term, and except for vacation or other paid time off in accordance with the terms of Section 3.01(E) below or absences due to illness or incapacity, Executive shall devote all of Executive’s business time, attention, skill and efforts exclusively to the business and affairs of Employer (including its subsidiaries and affiliates) and the promotion of its interests. Notwithstanding anything contained herein to the contrary, Executive may (a)engage in charitable, educational, religious, civic and similar types of activities and manage his personal investments, provided that such activities do not materially inhibit or prohibit the performance of Executive’s duties hereunder or materially inhibit or conflict with the business of Employer, its subsidiaries and/or affiliates, and (b) with the consent of the Board (which consent shall not be unreasonably withheld), serve on the board of directors (or its equivalent) of up to three (3) other business enterprises. Executive’s principal place of business for the performance of his duties under this Agreement shall be in Warren, New Jersey, provided that Executive shall be required to travel as reasonably necessary to perform his duties hereunder.

Position, Duties, Responsibilities and Authority. During the Term (as defined in Section 2.01 below), Executive shall serve as Chief Financial Executive Officer of Employer and shall have such responsibilities, duties and authority consistent with such position as may, from time to time, be assigned by the Board of Directors of Employer (the “Board”). During the Term, the Chief Board will nominate and re-nominate, as applicable, Executive Officer to serve as a member of Employer (the “CEO”) and/or the CEO’s nomineeBoard. In Executive’s capacity as Chief Financial Executive Officer of Employer, Executive shall report directly to the CEOBoard. Executive’s employment by Employer shall be full-time and exclusive to Employer and Executive shall serve Employer faithfully and to the best of Executive’s ability. During the Term, and except for vacation or other paid time off in accordance with the terms of Section 3.01(E) below or absences due to illness or incapacity, Executive shall devote all of Executive’s business time, attention, skill and efforts exclusively to the business and affairs of Employer (including its subsidiaries and affiliates) and the promotion of its interests. Notwithstanding anything contained herein to the contrary, Executive may (a)engage a) engage in charitable, educational, religious, civic and similar types of activities and manage his personal investments, provided that such activities do not materially inhibit or prohibit the performance of Executive’s duties hereunder or materially inhibit or conflict with the business of Employer, its subsidiaries and/or affiliates, (b) serve on the board of directors of Orthovita, Inc., and (bc) with the consent of the Board (which consent shall not be unreasonably withheld), serve on the board of directors (or its equivalent) of up to three two (32) other business enterprises. Executive’s principal place of business for the performance of his duties under this Agreement shall be in Warren, New Jersey, provided that Executive shall be required to travel as reasonably necessary to perform his duties hereunder.