Position, Transition Duties and Retirement Sample Clauses

Position, Transition Duties and Retirement. Mx. Xxxxxx agrees: [1] To continue to serve as [a] Senior Executive Vice President of Business Segments and to perform the services customarily performed by persons in a similar executive capacity until the Corporation’s reorganization is effectuated on October 25, 2006 (“Transition Date”) and [b] an officer of the Corporation until December 31, 2007. [2] Effective as of the Transition Date, [a] to resign as Senior Executive Vice President of Business Segments of the Corporation and as a member of the FirstMerit Bank, N.A. Board of Directors, but [b][i] to continue in active employment with the Corporation until December 31, 2007 and [ii] until December 31, 2007, to perform services necessary to identify and develop merger and acquisition opportunities for the Corporation, assist with leadership training as required and other duties and responsibilities assigned by the President of the Corporation which are consistent with duties and responsibilities of persons in similar executive capacities and which will be primarily performed out of the Mxxxxx and Akron offices. However, Mx. Xxxxxx may be required to work in other locations from time to time as needed. [3] Effective as of December 31, 2007, to resign as an employee of the Corporation and any other entity that is related through common ownership to the Corporation (all entities related through common ownership to the Corporation are called “Group Members” and the Corporation and all Group Members collectively are called the “Group”).
Sample 1
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Position, Transition Duties and Retirement. Mx. Xxxxxxx agrees: [1] To continue to serve as [a] President and Chief Executive Officer of the Corporation and to perform the services customarily performed by persons in a similar executive capacity until the Corporation’s new President and Chief Executive Officer begins active employment with the Corporation (“Transition Date”) and [b] Chairman of the Corporation’s Board of Directors (“Board”) until January 1, 2007. [2] Effective as of the Transition Date, [a] to resign as President and Chief Executive Officer of the Corporation, but [b][i] to continue in active employment with the Corporation until January 1, 2007 and [ii] to perform services necessary to ensure the successful transition and orientation of the Corporation’s new President and Chief Executive Officer. [3] Effective as of January 1, 2007, to resign as an employee of the Corporation, as Chairman of the Board and as a member of the Board and of the board of directors of any other entity that is related through common ownership to the Corporation (all entities related through common ownership to the Corporation are called “Group Members” and the Corporation and all Group Members collectively are called the “Group”). [4] During the Term, in addition to the obligations described in Article 6, not to engage in any other business activity, whether or not for gain, profit or other pecuniary advantage, that does not involve promoting the Corporation’s, the Group’s or any Group Member’s business. However, Mx. Xxxxxxx may serve as a director of companies that are not Group Members if that service: [a] Does not violate any term or condition of this Agreement; [b] Does not injure the Group or any Group Member; [c] Is not prohibited by law or by rules adopted by any Group Member; and [d] Is approved in advance by the Board.
Sample 1
Position, Transition Duties and Retirement. Xx. Xxxxx agrees: [1] Effective as of the Effective Date [a] to resign as Executive Vice President and Chief Information Officer (“CIO”), but [b][i] to continue in active employment with the Corporation until the earlier of the following dates: a) the date a successor is identified and installed by the Corporation or b) March 1, 2013 (“Transition Period”), and [ii] during the Transition Period, to perform services as an interim CIO, including without limitation participation in the preparation of and transfer of duties to a designated successor. Xx. Xxxxx will perform duties and responsibilities as assigned by the Chief Financial Officer of the Corporation. [2] Effective as of conclusion of the Transition Period to resign as an employee of the Corporation and any other entity that is related through common ownership to the Corporation (all entities related through common ownership to the Corporation are called “Group Members” and the Corporation and all Group Members collectively are called the “Group”). Xx. Xxxxx will resign from the FirstMerit Bank N.A. Board of Directors effective on the Termination Date.
Sample 1

Related to Position, Transition Duties and Retirement

  • Employment Duties and Responsibilities A) The Company shall employ the Executive, and the Executive shall serve the Company, as President and Chief Executive Officer, with such duties and responsibilities as may be assigned to the Executive by the Board of Directors of the Company (“BOD”) and are typically associated with a position of that nature.

  • Employment Duties The Company hereby employs the Executive for the Term (as defined in Section 2.1), to render exclusive and full-time services to the Company as President and Chief Operating Officer or in such other executive position as may be mutually agreed upon by the Company and the Executive, and to perform such other duties consistent with such position as may be assigned to the Executive by the Board of Directors or any officer of the Company senior to the Executive.

  • Employment, Duties and Agreements (a) The Company hereby agrees to employ the Executive as its Senior Vice President and the Executive hereby accepts such position and agrees to serve the Company in such capacity during the employment period described in Section 3 hereof (the “Employment Period”). The Executive shall report to the Office of the Chief Executive Officer (the “Office of the CEO”) of the Company and shall have such duties and responsibilities as the Office of the CEO may reasonably determine from time to time as are consistent with Executive’s position as Senior Vice President. During the Employment Period, the Executive shall be subject to, and shall act in accordance with, all reasonable instructions and directions of the Office of the CEO and all applicable policies and rules of the Company.

  • Post-Employment Activities 6.1 During the term of employment hereunder, and for a period of one year after termination of employment, regardless of the reason for such termination other than by the Corporation or Partnership without Cause or by the Executive for Good Reason, the Executive shall not directly or indirectly become employed by, act as a consultant to, or otherwise render any services to any person, corporation, partnership or other entity which is engaged in, or about to become engaged in, the retail shopping center business or any other business which is competitive with the business of the Corporation, the Partnership or any of their subsidiaries nor shall Executive use Executive's talents to make any such business competitive with the business of the Corporation, the Partnership or any of their subsidiaries. For the purpose of this Section, a retail shopping center business or other business shall be deemed to be competitive if it involves the ownership, operation, leasing or management of any retail shopping centers which draw from the same related trade area, which is deemed to be within a radius of 10 miles from the location of (a) any then existing shopping centers of the Corporation, the Partnership or any of their subsidiaries or (b) any proposed centers for which the site is owned or under contract, is under construction or is actively being negotiated. The Executive shall be deemed to be directly or indirectly engaged in a business if Executive participates therein as a director, officer, stockholder, employee, agent, consultant, manager, salesman, partner or individual proprietor, or as an investor who has made advances or loans, contributions to capital or expenditures for the purchase of stock, or in any capacity or manner whatsoever; provided, however, that the foregoing shall not be deemed to prevent the Executive from investing in securities if such class of securities in which the investment is so made is listed on a national securities exchange or is issued by a company registered under Section 12(g) of the Securities Exchange Act of 1934, so long as such investment holdings do not, in the aggregate, constitute more than 1% of the voting stock of any company's securities.

  • Duties and Responsibilities of Employee (a) During the Employment Period, Employee shall devote substantially all of Employee’s business time and attention to the business of the Company and its Affiliates, will act in a manner that Employee reasonably believes is consistent with the best interests of the Company and its Affiliates and will perform with due care Employee’s duties and responsibilities. Employee’s duties will include those normally incidental to the position(s) set forth in Section 1 above of as well as whatever additional duties may be assigned to Employee, with Employee’s consent, by any senior officers or by the Board of Managers of EPE Acquisition (the “Board”) from time to time. Employee agrees not to engage in any activity that materially interferes with the performance of Employee’s duties hereunder. Without limiting the foregoing, during the Employment Period, Employee will not hold any type of outside employment, engage in any type of consulting or otherwise render services to or for any other person, entity or business concern without the advance written approval of the Board. Notwithstanding the foregoing, the parties acknowledge and agree that Employee may (i) serve on corporate boards or committees (A) listed on Schedule 2(a) hereto or (B) approved by the Board, (ii) serve on civic, educational, religious, public interest, or charitable boards or committees, (iii) manage Employee’s personal and family investments, provided that such activity is not expressly prohibited by Section 10 and (iv) engage in passive investments (the activities referred to in the immediately preceding clauses (i), (ii), (iii) and (iv) being “Permitted Activities”); provided, however, that such activities shall be permitted so long as such activities do not materially interfere with the performance of Employee’s duties and responsibilities under this Agreement or conflict with the business and affairs of the Company.

  • Duties and Responsibilities of Executive During the Employment Period, Executive shall devote his full working time to (a) the business of the Company and its Affiliates and (b) performance of the duties and responsibilities assigned to Executive to the best of Executive’s ability and with reasonable diligence. Executive’s Employment shall also be subject to the policies maintained and established by the Company, as such policies may be amended from time to time. Executive shall at all times use his best efforts to comply in good faith with laws applicable to Executive’s actions on behalf of the Company and its Affiliates.

  • Employee Duties (a) During the term of this Agreement, the Employee shall have the duties and responsibilities of Chief Operations Officer, reporting directly to the President & CEO of the Company. It is understood that such duties and responsibilities shall be reasonably related to the Employee's position.

  • Position, Duties and Responsibilities During the Term of Employment, Executive shall be employed and serve as the Chief Executive Officer of the Company Group (together with such other position or positions consistent with Executive’s title as the Board shall specify from time to time) and shall have such duties and responsibilities commensurate with such title, including managing the day-to-day business activities of the Company (subject to operating guidelines and budgets established by the Board from time to time). Executive also agrees to serve as an officer and/or director of any other member of the Company Group, in each case without additional compensation.

  • Employment, Position and Duties (a) The Company shall employ Executive and Executive hereby accepts employment with the Company, upon the terms and conditions set forth in this Agreement for the Employment Period.

  • Employment Term Duties The Company hereby continues to employ the Employee as Chief Technology Officer ("CTO"). The term of the Employee's employment, pursuant to this Agreement, will commence on October 29, 1999, (the "Commencement Date") and will continue until October 31, 2001, or the termination of this Agreement as described in Section 5 hereof, whichever shall occur first. The Employee hereby agrees to his continued employment, and agrees to devote his full time and effort to the business and affairs of the Company with such duties consistent with the Employee's position as may be assigned to him from time to time by the Board of Managers of the Company and/or the Chief Executive Officer ("CEO") or the Chief Operating Officer ("COO") of the Company. Notwithstanding the foregoing, the Company acknowledges that the Employee has other business interests and ownerships. Subject to the provisions of Sections 7 through 10 hereof, the Company acknowledges and consents to the continuation of these ownerships and relationships, provided they do not interfere with the Employee's duties under this Agreement. Notwithstanding anything to the contrary in this Agreement, nothing in this Agreement shall be deemed to impose any obligation on the Company or any of its subsidiaries to continue to employ the Employee, or on the Employee to remain in the employ of the Company or any of its subsidiaries.

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