SHALL BE EMPLOYED AS CHIEF OPERATING OFFICER, IN
WHICH POSITION HE SHALL:
4.1.1
REPORT DIRECTLY TO THE CHIEF EXECUTIVE OFFICER OF THE
COMPANY;
4.1.2
DEVOTE THE WHOLE OF HIS TIME, ATTENTION AND SKILL TO HIS
DUTIES UNDER THIS AGREEMENT AND UNDER THE GSA;
4.1.3
FAITHFULLY AND DILIGENTLY PERFORM SUCH DUTIES AND EXERCISE
SUCH POWERS CONSISTENT WITH HIS POSITION AS MAY FROM TIME TO TIME BE ASSIGNED TO
OR VESTED IN HIM BY THE BOARD;
4.1.4
OBEY THE REASONABLE AND LAWFUL DIRECTIONS OF THE BOARD;
4.1.5
COMPLY WITH ALL THE COMPANY'S RULES, REGULATIONS, POLICIES
AND PROCEDURES FROM TIME TO TIME IN FORCE AND ESPECIALLY WITH STELMAR MANAGEMENT
SYSTEM POLICY MANUAL ("THE MANUAL") THE CONTENTS OF WHICH THE EXECUTIVE ACCEPTS
AND IS FULLY AWARE OF; AND
4.1.6
KEEP THE BOARD AT ALL TIMES PROMPTLY AND FULLY INFORMED (IN
WRITING IF SO REQUESTED) OF HIS CONDUCT OF THE BUSINESS OF THE COMPANY AND ANY
GROUP COMPANY AND PROVIDE SUCH EXPLANATIONS IN CONNECTION THEREWITH AS THE BOARD
MAY REQUIRE FROM TIME TO TIME.
4.2
THE EXECUTIVE SHALL IF AND SO LONG AS THE COMPANY REQUIRES AND
WITHOUT ANY FURTHER REMUNERATION THEREFORE (EXCEPT AS OTHERWISE AGREED):
5
4.2.1
CARRY OUT HIS DUTIES ON BEHALF OF ANY GROUP COMPANY; AND
4.2.2
ACT AS A DIRECTOR OR OFFICER OF ANY GROUP COMPANY.
4.3
THE COMPANY MAY, IF NECESSARY, AT ITS SOLE DISCRETION TRANSFER
THIS AGREEMENT TO ANY GROUP COMPANY AT ANY TIME ON THE SAME TERMS AND CONDITIONS
AS SET OUT HEREIN, SUBJECT TO SUCH GROUP COMPANY'S EXPRESS ASSUMPTION OF THE
COMPANY'S OBLIGATIONS HEREUNDER AND SUBJECT TO SUCH TRANSFER BEING EFFECTED FOR
THE BEST INTERESTS OF THE COMPANY AND NOT AS A PUNITIVE OR DETRIMENTAL MEASURE
AGAINST THE EXECUTIVE.
4.4
THE EXECUTIVE AGREES THAT HE WILL PROVIDE A COPY OF CLAUSES 12 AND
15 OF THIS AGREEMENT (AND A COPY OF ANY CLAUSE OF THE GSA RELATING TO THE SAME)
TO ANY PERSON, FIRM, COMPANY OR OTHER ENTITY MAKING AN OFFER OF EMPLOYMENT,
AGENCY, CONSULTANCY, PARTNERSHIP OR JOINT VENTURE TO HIM/HER DURING THE
EMPLOYMENT OR THEREAFTER WHILST ANY RESTRICTIONS IN CLAUSES 12 AND/OR 15 AND/OR
THE GSA REMAIN IN FORCE IMMEDIATELY UPON RECEIVING ANY SUCH OFFER.
5
HOURS AND PLACE OF WORK
5.1
THE EXECUTIVE'S PRINCIPAL PLACE OF WORK WILL BE AS SET OUT IN THE
GSA, BUT THE COMPANY MAY FROM TIME TO TIME DURING THE EMPLOYMENT REQUIRE THE
EXECUTIVE TO WORK AT ANY PLACE OUTSIDE GREECE ON EITHER A TEMPORARY OR AN
INDEFINITE BASIS. WHERE THE PLACE OF WORK DOES CHANGE SUCH CHANGE SHALL NOT BE
CONSIDERED A DETRIMENTAL AMENDMENT TO THE EXECUTIVE'S TERMS AND CONDITIONS OF
SERVICE AND SHALL NOT GIVE THE EXECUTIVE THE RIGHT TO TERMINATE THIS AGREEMENT
CLAIMING SEVERANCE PAY OR EXTRA COMPENSATION OR ADDITIONAL WAGES OR ANY OTHER
REMUNERATION. IN THE PERFORMANCE OF HIS DUTIES HEREUNDER, IT IS ACKNOWLEDGED AND
AGREED BY THE PARTIES THAT THE EXECUTIVE MAY BE REQUIRED TO TRAVEL WORLDWIDE.
6
REMUNERATION
6.1
THE COMPANY SHALL PAY TO THE EXECUTIVE A SALARY AT THE RATE OF
EUROS