Office, Title and Duties. Executive shall be Company's President, the Executive Vice President of Financial and shall serve on the Loan Committee of the BLC, Capital & Commercial. Executive will also, at the direction of the Board of Directors of Financial, BLC or the Company, assist in the expansion of the loan origination network, throughout the United States, of BLC, Financial or their subsidiaries. Executive will devote all of his skill, knowledge and working time (except for (i) reasonable vacation time and absence for sickness or similar disability and (ii) to the extent that it does not interfere with the performance of the Executive's duties hereunder, such reasonable time as may be devoted to service on boards of directors of civic organizations, civic board of fulfillment of other civic responsibilities) to the conscientious performance of the duties of such positions. He may not otherwise engage in other business activities for his own account of for others, except Executive may, without the prior written consent of the Company, but subject to restrictions set forth below, own up to five percent (5%) of the outstanding capital stock of any publicly traded company and own interests in privately held companies, other entities and investments that do not compete with the Company. Although Executive may retain whatever capital stock of any publicly traded company he owns as of the date hereof, Executive shall not acquire after the date hereof the outstanding capital stock of any publicly traded company that competes with the Company nor have any financial interest in any privately held business, company, or investment, that competes with Company without the prior written consent of Financial. Executive shall exercise all powers and duties consistent with his position, as well as such powers and duties as may be delegated or assigned to him from time to time by the Board of Directors of Company and/or Financial. Executive, without additional compensation, will, if requested, serve as an officer and/or director, of Company, Financial, Commercial, BLC, Capital and/or any hereinafter formed subsidiaries, if he is so elected or designated. Executive agrees to discharge the above-described powers and duties in a diligent and professional manner and shall render such other services as may be requested from time to time by the Board of Directors of Company and/or Financial upon reasonable advance notice. Without limiting the generality of any of the foregoing, Executive shall actively seek out and refer to the Company, Capital, Financial, BLC and Commercial all 7(a) Loans, B & I Loans and other commercial loans of all types and kinds, Executive shall actively seek to promote, coordinate and expand the Company's network of loan brokers, loan representatives and other loan sources and Executive shall use his best efforts to operate the Company in a profitable manner and maximize the profits generated by the Company, Financial, Commercial, BLC and Capital. Executive agrees to travel as reasonably required in performing his functions hereunder. The duties and obligations of Executive as set forth hereinabove and elsewhere in this Agreement are collectively referred to as Duties. BLC, Financial, Commercial, Capital and any later formed subsidiaries of Financial are sometimes hereinafter referred to as Affiliates.
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Office, Title and Duties. Executive shall be Company's PresidentTreasurer and Chief Financial Officer, the Executive Vice President Treasurer and Chief Financial Officer of Financial and shall serve on the Loan Committee of the BLC, Capital & Commercial. Executive will also, at the direction of the Board of Directors of Financial, BLC or the Company, assist in the expansion of the loan origination network, throughout the United States, of BLC, Financial or their subsidiaries. Executive will devote all of his her skill, knowledge and working time (except for (i) reasonable vacation time and absence for sickness or similar disability and (ii) to the extent that it does not interfere with the performance of the Executive's duties hereunder, such reasonable time as may be devoted to service on boards of directors of civic organizations, civic board of fulfillment of other civic responsibilities) to the conscientious performance of the duties of such positions. He may not otherwise engage in other business activities for his own account of for others, except Executive may, without the prior written consent of the Company, but subject to restrictions set forth below, own up to five percent (5%) of the outstanding capital stock of any publicly traded company and own interests in privately held companies, other entities and investments that do not compete with the Company. Although Executive may retain whatever capital stock of any publicly traded company he she owns as of the date hereof, Executive shall not acquire after the date hereof the outstanding capital stock of any publicly traded company that competes with the Company nor have any financial interest in any privately held business, company, or investment, that competes with Company without the prior written consent of Financial. Executive shall exercise all powers and duties consistent with his her position, as well as such powers and duties as may be delegated or assigned to him from time to time by the Board of Directors of Company and/or Financial. Executive, without additional compensation, will, if requested, serve as an officer and/or director, of Company, Financial, Commercial, BLC, Capital and/or any hereinafter formed subsidiaries, if he she is so elected or designated. Executive agrees to discharge the above-described powers and duties in a diligent and professional manner and shall render such other services as may be requested from time to time by the Board of Directors of Company and/or Financial upon reasonable advance notice. Without limiting the generality of any of the foregoing, Executive shall actively seek out and refer to the Company, Capital, Financial, BLC and Commercial all 7(a) Loans, B & I Loans and other commercial loans of all types and kinds, Executive shall actively seek to promote, coordinate and expand the Company's network of loan brokers, loan representatives and other loan sources and Executive shall use his her best efforts to operate the Company in a profitable manner and maximize the profits generated by the Company, Financial, Commercial, BLC and Capital. Executive agrees to travel as reasonably required in performing his her functions hereunder. The duties and obligations of Executive as set forth hereinabove and elsewhere in this the Agreement are collectively referred to as Duties. BLC, Financial, Commercial, Capital and any later formed subsidiaries of Financial are sometimes hereinafter referred to as Affiliates.
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