Document ID: 12200

Text:
2\. EMPLOYMENT; DUTIES. Subject to the terms and conditions set forth in this Agreement, the Corporation shall employ the Executive as President and Chief Executive Officer of the Corporation. Subject to the yearly election by the Board of Directors in the exercise of its judgment, it is contemplated that the Executive will continue to be elected to the positions of President and Chief Executive Officer . The Board may appoint another individual as President of the Corporation from time to time. As Chief Executive Officer , the Executive will have all of the duties, responsibilities and authority commensurate with the position in companies of similar size and type and such other duties, not inconsistent with his position, as assigned to him by the Board from time to time, subject also at all times to the control of the Board. All employees and independent contractors shall report to Executive or his designee, provided that as necessary for governance purposes the Chief Financial Officer, the General Counsel and the audit staff may also report to the Board or a Committee thereof. The Executive shall report directly to the Board, which shall have general control of the business of the Corporation. The Executive agrees to perform his duties and discharge his responsibilities in a faithful manner and to the best of his ability and to use all reasonable efforts to promote the interests of the Corporation. The Executive may not engage in other gainful employment except with the prior consent of the Board of Directors of the Corporation. With the prior consent of the Board of Directors of the Corporation, the Executive may become a director, trustee or other fiduciary of other corporations, trusts or entities. Notwithstanding the foregoing, the Executive may manage his passive investments, including by acting as trustee for any trust formed for the benefit of himself, his spouse, their respective parents and his lineal descendants, and be involved in charitable, civic and religious interests so long as they do not materially interfere with the performance of the Executives duties hereunder.

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Tokenized Text:
2
\
.
EMPLOYMENT
;
DUTIES
.
Subject
to
the
terms
and
conditions
set
forth
in
this
Agreement
,
the
Corporation
shall
employ
the
Executive
as
President
and
Chief
Executive
Officer
of
the
Corporation
.
Subject
to
the
yearly
election
by
the
Board
of
Directors
in
the
exercise
of
its
judgment
,
it
is
contemplated
that
the
Executive
will
continue
to
be
elected
to
the
positions
of
President
and
Chief
Executive
Officer
.
The
Board
may
appoint
another
individual
as
President
of
the
Corporation
from
time
to
time
.
As
Chief
Executive
Officer
,
the
Executive
will
have
all
of
the
duties
,
responsibilities
and
authority
commensurate
with
the
position
in
companies
of
similar
size
and
type
and
such
other
duties
,
not
inconsistent
with
his
position
,
as
assigned
to
him
by
the
Board
from
time
to
time
,
subject
also
at
all
times
to
the
control
of
the
Board
.
All
employees
and
independent
contractors
shall
report
to
Executive
or
his
designee
,
provided
that
as
necessary
for
governance
purposes
the
Chief
Financial
Officer
,
the
General
Counsel
and
the
audit
staff
may
also
report
to
the
Board
or
a
Committee
thereof
.
The
Executive
shall
report
directly
to
the
Board
,
which
shall
have
general
control
of
the
business
of
the
Corporation
.
The
Executive
agrees
to
perform
his
duties
and
discharge
his
responsibilities
in
a
faithful
manner
and
to
the
best
of
his
ability
and
to
use
all
reasonable
efforts
to
promote
the
interests
of
the
Corporation
.
The
Executive
may
not
engage
in
other
gainful
employment
except
with
the
prior
consent
of
the
Board
of
Directors
of
the
Corporation
.
With
the
prior
consent
of
the
Board
of
Directors
of
the
Corporation
,
the
Executive
may
become
a
director
,
trustee
or
other
fiduciary
of
other
corporations
,
trusts
or
entities
.
Notwithstanding
the
foregoing
,
the
Executive
may
manage
his
passive
investments
,
including
by
acting
as
trustee
for
any
trust
formed
for
the
benefit
of
himself
,
his
spouse
,
their
respective
parents
and
his
lineal
descendants
,
and
be
involved
in
charitable
,
civic
and
religious
interests
so
long
as
they
do
not
materially
interfere
with
the
performance
of
the
Executives
duties
hereunder
.