Common use of Services, Duties and Responsibilities Clause in Contracts

Services, Duties and Responsibilities. (a) The Company hereby agrees to employ the Executive as its President and Chief Executive Officer during the service period fixed by Section 4 hereof (the “Service Period”). The Executive shall report to the Board of Directors of BFC (the “Board”) and shall have such duties and responsibilities as are consistent with the position of President and Chief Executive Officer of a bank and holding company of similar size and complexity as the Company (the “Services”). The Executive shall also serve on the Board to the extent he is elected for such service by the BFC stockholders, which election shall be recommended to the BFC stockholders by the appropriate committee of the Board, and the Executive shall serve on the board of directors of the Bank. The Executive’s principal work location shall be at the Company’s principal executive offices; provided, that the Executive may be required to travel as reasonably necessary in order to perform the Executive’s duties and responsibilities hereunder. (b) During the Service Period, excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive shall devote substantially all of the Executive’s working time, energy and attention to the performance of his duties and responsibilities hereunder and shall faithfully and diligently endeavor to promote the business of the Company. During the Service Period, the Executive may not, without the prior written consent of the Board, directly or indirectly, operate, participate in the management, operations or control of, or act as an executive, officer, consultant, agent or representative of, any type of competitive business or service; provided, that the Executive may, to the extent not otherwise prohibited by this Agreement, devote such amount of time as does not interfere with the performance of the Executive’s duties under this Agreement to engaging in community and charitable activities.

Services, Duties and Responsibilities. (a) The Company Bank hereby agrees to employ the Executive as its a Senior Executive Vice President and Chief Executive Officer during the service period fixed by Section 4 3 hereof (the “Service Period”). The Executive shall report to the Board of Directors of BFC (the “Board”) Bank’s President and Chief Executive Officer and shall have such duties and responsibilities as are consistent with assigned by the position Board of President and Directors of the Bank (the “Board”) or the Bank’s Chief Executive Officer of a bank and holding company of similar size and complexity as the Company consistent with such position (the “Services”). The Executive shall also serve on the Board to the extent he is elected for such service by the BFC stockholders, which election shall be recommended to the BFC stockholders by the appropriate committee of the Board, and the Executive shall serve on the board of directors of the Bank. The Executive’s principal work location shall be at the CompanyBank’s principal executive offices; provided, provided that the Executive may be required to travel as reasonably necessary in order to perform the Executive’s duties and responsibilities hereunder. (b) During the Service Period, excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive shall devote substantially all of the Executive’s working time, energy and attention to the performance of his duties and responsibilities hereunder and shall faithfully and diligently endeavor to promote the business of the CompanyBank. During the Service Period, the Executive may not, without the prior written consent of the Board, directly or indirectly, operate, participate in the management, operations or control of, or act as an executive, officer, consultant, agent or representative of, any type of competitive business or service; provided, provided that the Executive may, to the extent not otherwise prohibited by this Agreement, devote such amount of time as does not interfere with the performance of the Executive’s duties under this Agreement to engaging in community and charitable activities.

Services, Duties and Responsibilities. (a) The Company hereby agrees to employ the Executive as its President and Chief Executive Financial Officer during the service period fixed by Section 4 hereof (the “Service Period”)) and the Bank hereby agrees to employ the Executive as its Chief Financial Officer during the Service Period. At all times during the Service Period, the Executive shall be the Chief Financial Officer of the Company and the Bank. The Executive shall report to the Company Board of Directors of BFC (and the “Board”) Bank Board and shall have such duties and responsibilities as are consistent with the position positions of President and Chief Executive Financial Officer of a bank and holding company and a community bank of similar size and complexity as the Company and the Bank, respectively (the “Services”). The Executive shall also serve on the Board to the extent he is elected for such service by the BFC stockholders, which election shall be recommended to the BFC stockholders by the appropriate committee of the Board, and the Executive shall serve on the board of directors of the Bank. The Executive’s principal work location shall be at the Company’s and the Bank’s principal executive offices; provided, provided that the Executive may be required to travel as reasonably necessary in order to perform the Executive’s his duties and responsibilities hereunder. (b) During the Service Period, excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive shall devote substantially all of the Executive’s working time, energy and attention to the performance of his duties and responsibilities hereunder and shall faithfully and diligently endeavor to promote the business of the Company. Company and the Bank. (c) During the Service Period, the Executive may not, without the prior written consent of the Company Board, directly or indirectly, operate, participate in the management, operations or control of, or act as an executive, officer, consultant, agent or representative of, any type of competitive business or serviceservice (other than as an executive of the Company and the Bank); provided, provided that the Executive may, to the extent not otherwise prohibited by this Agreement, devote such amount of time as does not interfere or compete with the performance of the Executive’s duties under this Agreement to any one or more of the following activities: (i) investing the Executive’s and his family’s personal assets in such manner as will not require significant services to be rendered by the Executive in the operation of the affairs of the companies in which investments are made; and (ii) engaging in community and charitable activities.

Services, Duties and Responsibilities. (a) The Company hereby agrees to employ the Executive as its President and Chief Executive Officer during the service period fixed by Section 4 hereof (the “Service Period”)) and the Bank hereby agrees to employ the Executive as its President and Chief Executive Officer during the Service Period. At all times during the Service Period, the Executive shall be the President and Chief Executive Officer of the Company and the Bank. The Executive shall report to the Company Board of Directors of BFC (and the “Board”) Bank Board and shall have such duties and responsibilities as are consistent with the position positions of President and Chief Executive Officer of a bank and holding company and a community bank of similar size and complexity as the Company and the Bank, respectively (the “Services”). The Executive shall also serve on the Board to the extent he is elected for such service by the BFC stockholders, which election shall be recommended to the BFC stockholders by the appropriate committee of the Board, and the Executive shall serve on the board of directors of the Bank. The Executive’s principal work location shall be at the Company’s principal executive offices; provided, provided that the Executive may be required to travel as reasonably necessary in order to perform the Executive’s his duties and responsibilities hereunder. (b) During the Service Period, excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive shall devote substantially all of the Executive’s working time, energy and attention to the performance of his duties and responsibilities hereunder and shall faithfully and diligently endeavor to promote the business of the Company. Company and the Bank. (c) During the Service Period, the Executive may not, without the prior written consent of the Company Board, directly or indirectly, operate, participate in the management, operations or control of, or act as an executive, officer, consultant, agent or representative of, any type of competitive business or serviceservice (other than as an executive of the Company and the Bank); provided, provided that the Executive may, to the extent not otherwise prohibited by this Agreement, devote such amount of time as does not interfere or compete with the performance of the Executive’s duties under this Agreement to any one or more of the following activities: (i) investing the Executive’s and his family’s personal assets in such manner as will not require significant services to be rendered by the Executive in the operation of the affairs of the companies in which investments are made; and (ii) engaging in community and charitable activities.

Services, Duties and Responsibilities. (a) The Company hereby agrees to employ the Executive as its President and Chief Executive Officer during the service period fixed by Section 4 hereof (the “Service Period”)) and the Bank hereby agrees to employ the Executive as its President during the Service Period. At all times during the Service Period, the Executive shall be the President of the Company and the Bank. The Executive shall report to the Company Board of Directors of BFC (and the “Board”) Bank Board and shall have such duties and responsibilities as are consistent with the position positions of President and Chief Executive Officer of a bank and holding company and a community bank of similar size and complexity as the Company and the Bank, respectively (the “Services”). The Executive shall also serve on the Board to the extent he is elected for such service by the BFC stockholders, which election shall be recommended to the BFC stockholders by the appropriate committee of the Board, and the Executive shall serve on the board of directors of the Bank. The Executive’s principal work location shall be at the Company’s and the Bank’s principal executive offices; provided, provided that the Executive may be required to travel as reasonably necessary in order to perform the Executive’s his duties and responsibilities hereunder. (b) During the Service Period, excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive shall devote substantially all of the Executive’s working time, energy and attention to the performance of his duties and responsibilities hereunder and shall faithfully and diligently endeavor to promote the business of the Company. Company and the Bank. (c) During the Service Period, the Executive may not, without the prior written consent of the Company Board, directly or indirectly, operate, participate in the management, operations or control of, or act as an executive, officer, consultant, agent or representative of, any type of competitive business or serviceservice (other than as an executive of the Company and the Bank); provided, provided that the Executive may, to the extent not otherwise prohibited by this Agreement, devote such amount of time as does not interfere or compete with the performance of the Executive’s duties under this Agreement to any one or more of the following activities: (i) investing the Executive’s and his family’s personal assets in such manner as will not require significant services to be rendered by the Executive in the operation of the affairs of the companies in which investments are made; and (ii) engaging in community and charitable activities.

Services, Duties and Responsibilities. (a) The Company hereby agrees to employ the Executive as its President and Chief Executive Financial Officer during the service period fixed by Section 4 hereof (the “Service Period”)) and the Bank hereby agrees to employ the Executive as its Chief Financial Officer during the Service Period. At all times during the Service Period, the Executive shall be the Chief Financial Officer of the Company and the Bank. The Executive shall report to the Company Board of Directors of BFC (and the “Board”) Bank Board and shall have such duties and responsibilities as are consistent with the position positions of President and Chief Executive Financial Officer of a bank and holding company and a community bank of similar size and complexity as the Company and the Bank, respectively (the “Services”). The Executive shall also serve on the Board to the extent he is elected for such service by the BFC stockholders, which election shall be recommended to the BFC stockholders by the appropriate committee of the Board, and the Executive shall serve on the board of directors of the Bank. The Executive’s principal work location shall be at the Company’s principal executive offices; provided, provided that the Executive may be required to travel as reasonably necessary in order to perform the Executive’s his duties and responsibilities hereunder. (b) During the Service Period, excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive shall devote substantially all of the Executive’s working time, energy and attention to the performance of his duties and responsibilities hereunder and shall faithfully and diligently endeavor to promote the business of the Company. Company and the Bank. (c) During the Service Period, the Executive may not, without the prior written consent of the Company Board, directly or indirectly, operate, participate in the management, operations or control of, or act as an executive, officer, consultant, agent or representative of, any type of competitive business or serviceservice (other than as an executive of the Company and the Bank); provided, provided that the Executive may, to the extent not otherwise prohibited by this Agreement, devote such amount of time as does not interfere or compete with the performance of the Executive’s duties under this Agreement to any one or more of the following activities: (i) investing the Executive’s and his family’s personal assets in such manner as will not require significant services to be rendered by the Executive in the operation of the affairs of the companies in which investments are made; and (ii) engaging in community and charitable activities.

Services, Duties and Responsibilities. (a) The Company hereby agrees to employ the Executive as its President and Chief Executive Officer during the service period fixed by Section 4 hereof (the “Service Period”)) and the Bank hereby agrees to employ the Executive as its Chief Executive Officer during the Service Period. At all times during the Service Period, the Executive shall be the Chief Executive Officer of the Company and the Bank. The Executive shall report to the Company Board of Directors of BFC (and the “Board”) Bank Board and shall have such duties and responsibilities as are consistent with the position positions of President and Chief Executive Officer of a bank and holding company and a community bank of similar size and complexity as the Company and the Bank, respectively (the “Services”). The Executive shall also serve on the Board to the extent he is elected for such service by the BFC stockholders, which election shall be recommended to the BFC stockholders by the appropriate committee of the Board, and the Executive shall serve on the board of directors of the Bank. The Executive’s principal work location shall be at the Company’s and the Bank’s principal executive offices; provided, provided that the Executive may be required to travel as reasonably necessary in order to perform the Executive’s his duties and responsibilities hereunder. (b) During the Service Period, excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive shall devote substantially all of the Executive’s working time, energy and attention to the performance of his duties and responsibilities hereunder and shall faithfully and diligently endeavor to promote the business of the Company. Company and the Bank. (c) During the Service Period, the Executive may not, without the prior written consent of the Company Board, directly or indirectly, operate, participate in the management, operations or control of, or act as an executive, officer, consultant, agent or representative of, any type of competitive business or serviceservice (other than as an executive of the Company and the Bank); provided, provided that the Executive may, to the extent not otherwise prohibited by this Agreement, devote such amount of time as does not interfere or compete with the performance of the Executive’s duties under this Agreement to any one or more of the following activities: (i) investing the Executive’s and his family’s personal assets in such manner as will not require significant services to be rendered by the Executive in the operation of the affairs of the companies in which investments are made; and (ii) engaging in community and charitable activities.

Services, Duties and Responsibilities. (a) The Company hereby agrees to employ the Executive as its President and Chief Executive Officer during the service period fixed by Section 4 hereof (the “Service Period”). The Executive shall report to the Board of Directors of BFC (the “Board”) and shall have such duties and responsibilities as are consistent with the position of President and Chief Executive Officer of a bank and holding company of similar size and complexity as the Company Company, as well as such duties and responsibilities as are determined by the Board from time to time with respect to the Company’s subsidiaries and affiliates (the “Services”). The Executive shall also serve on the Board to the extent he is elected for such service by the BFC stockholders, which election shall be recommended to the BFC stockholders by the directors serving from time to time on the appropriate committee of the BoardBoard consistent with their fiduciary duties, and the Executive shall serve on the board of directors of the Bank. The Executive’s principal work location shall be at the Company’s principal executive offices; provided, that the Executive may be required to travel as reasonably necessary in order to perform the Executive’s duties and responsibilities hereunder. (b) During the Service Period, excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive shall devote substantially all of the Executive’s working time, energy and attention to the performance of his duties and responsibilities hereunder and shall faithfully and diligently endeavor to promote the business of the Company. During the Service Period, the Executive may not, without the prior written consent of the Board, directly or indirectly, operate, participate in the management, operations or control of, or act as an executiveemployee, officer, consultant, agent or representative of, any type of competitive business or serviceservice of the Company and its affiliates; provided, that the Executive may, to the extent not otherwise prohibited by this Agreement, devote such amount of time as does not interfere with the performance of the Executive’s duties under this Agreement to engaging in community community, corporate and charitable activities, including, without limitation, to serve as a paid or unpaid director of not more than one community, corporate or charitable organization, subject to the consent of the Board, which consent shall not be unreasonably withheld, and provided that such services do not breach Section 9 hereof. In addition, prior to the execution of this Agreement, the Board has reviewed and approved Executive devoting such amount of time as does not interfere with the performance of the Executive’s duties under this Agreement to serving as a paid or unpaid director of the organizations listed on Exhibit B (which are organizations for which the Executive currently serves as paid or unpaid director as of the effective date of this Agreement), provided that such services do not breach Section 9 hereof. Upon request of the Board or the Compensation Committee of the Board, but no less frequently than annually, the Executive shall provide a listing of boards on which the Executive serves.