Common use of Position and Authority Clause in Contracts

Position and Authority. The Company agrees to employ the Executive, and ---------------------- the Executive accepts such employment and agrees to serve the Company as Vice Chairman of the Company and any of its respective Subsidiaries as may from time to time be requested by the Company, for the compensation and benefits detailed in Sections 3 and 4 hereof. It is understood that the Executive will report to the Chief Executive Officer of the Company. During the Employment Term, the Company shall nominate Executive, and shall use its commercially reasonable best efforts to cause Executive to be elected, to the Board of Directors. A "Subsidiary" shall be any company in which the Company beneficially owns more than 50% of the voting power of such company's outstanding voting securities.

Position and Authority. The Company agrees to employ the Executive, ---------------------- and ---------------------- the Executive accepts such employment and agrees to serve the Company as Vice Chairman of the Company and any of its respective Subsidiaries as may from time to time be requested by the Company, for the compensation and benefits detailed in Sections 3 and 4 hereof. It is understood that the Executive will report to the Chief Executive Officer of the Company. During the Employment Term, the Company shall nominate Executive, and shall use its commercially reasonable best efforts to cause Executive to be elected, to the Board of Directors. A "Subsidiary" shall be any company in which the Company beneficially owns more than 50% of the voting power of such company's outstanding voting securities.