DUTIES OF EMPLOYEE:
3.1
WHILST HE IS ENGAGED BY THE COMPANY UNDER THIS AGREEMENT, THE
EMPLOYEE SHALL USE HIS BEST ENDEAVOURS TO PROMOTE THE INTERESTS OF THE COMPANY
AND EACH GROUP COMPANY (AS DEFINED BELOW) FOR THE TIME BEING AND SHALL DEVOTE SO
MUCH OF HIS TIME AND ATTENTION AND ABILITIES AS IS REASONABLY NECESSARY FOR THE
PROPER PERFORMANCE OF HIS DUTIES HEREUNDER AND TO ENSURE SATISFACTORY OPERATION
OF THE BUSINESS OF THE COMPANY AND THE GROUP COMPANIES.
3.2
THE DUTIES OF THE EMPLOYEE HEREUNDER SHALL EXTEND WORLDWIDE, AND
WILL REQUIRE REASONABLE LEVELS OF TRAVEL ABROAD.
3.3
FOR THE DURATION OF THIS AGREEMENT, THE EMPLOYEE SHALL NOT BE
CONCERNED WITH ANY OTHER BUSINESS ENTERPRISE WITHOUT THE PRIOR WRITTEN CONSENT
OF THE BOARD, SAVE THAT THIS RESTRICTION SHALL NOT APPLY TO THE HOLDING BY THE
EMPLOYEE (OR HIS NOMINEES) FOR INVESTMENT PURPOSES ONLY OF NOT MORE THAN 3% OF
THE ISSUED SHARES OR SECURITIES OF ANY COMPANY WHOSE SHARES OR OTHER CAPITAL ARE
LISTED ON OR DEALT ON OR UNDER THE RULES OF AN EXCHANGE WHICH IS DESIGNATED AS A
"RECOGNISED STOCK EXCHANGE" PURSUANT TO SECTION 841(1) OF THE INCOME &
CORPORATION TAXES ACT 1988 OR AN EXCHANGE WHICH IS A "RECOGNISED INVESTMENT
EXCHANGE" OR A "RECOGNISED OVERSEAS INVESTMENT EXCHANGE" PURSUANT TO SECTIONS
285 OR 292 OF THE FINANCIAL SERVICES & MARKETS ACT 2000.
3.4
THE EMPLOYEE SHALL NOT (EXCEPT IN THE PROPER COURSE OF HIS DUTIES
OR UNLESS ORDERED TO DO SO BY A COURT OF COMPETENT JURISDICTION) DIVULGE ANY
INFORMATION CONCERNING THE BUSINESS, TRANSACTIONS, SECRETS OR AFFAIRS OF THE
COMPANY OR OF ANY OF ITS SUBSIDIARIES OR ASSOCIATED COMPANIES EITHER DURING OR
AFTER HIS EMPLOYMENT WITH THE COMPANY.
DURING HIS EMPLOYMENT WITH THE COMPANY
HE SHALL USE HIS BEST ENDEAVOURS TO PREVENT THE DISCLOSURE OF SUCH INFORMATION
BY THIRD PARTIES AND SHALL NOT IN ANY WAY USE OR ATTEMPT TO USE SUCH KNOWLEDGE
OR INFORMATION WHICH MAY INJURE OR CAUSE LOSS DIRECTLY OR INDIRECTLY TO THE
COMPANY OR ANY SUBSIDIARY OR ASSOCIATED COMPANY OF THE COMPANY (EACH OF THE
COMPANY AND ANY SUBSIDIARY OR ASSOCIATED COMPANY REFERRED TO AS A "GROUP
COMPANY") OR USE HIS PERSONAL KNOWLEDGE OF OR INFLUENCE OVER ANY GROUP COMPANY
SO AS TO TAKE PERSONAL ADVANTAGE OF THEIR TRADE OR BUSINESS CONNECTIONS.
3.5
ALL NOTES AND MEMORANDA OF ANY TRADE SECRETS OR ANY OTHER
INFORMATION CONCERNING THE BUSINESS OF ANY GROUP COMPANY WHICH SHALL BE MADE OR
2
RECEIVED BY THE EMPLOYEE DURING THE COURSE OF HIS EMPLOYMENT HEREUNDER OR WHICH
MAY ALREADY BE IN HIS POSSESSION SHALL BE SURRENDERED BY THE EMPLOYEE TO SOMEONE
DULY AUTHORISED AT ANY TIME DURING THE COURSE OF HIS EMPLOYMENT.
3.6
THE EMPLOYEE WILL AT ALL TIMES COMPLY WITH ALL LAWFUL RESOLUTIONS,
REGULATIONS AND DIRECTIONS FROM TIME TO TIME MADE BY THE BOARD.
4.
REMUNERATION:
4.1
THE REMUNERATION OF THE EMPLOYEE DURING THE CONTINUANCE OF HIS
EMPLOYMENT HEREUNDER SHALL BE AN ANNUAL SALARY OF £170,000 PER ANNUM WHICH SHALL
ACCRUE FROM DAY TO DAY AND SHALL BE PAYABLE