Position Duties and Responsibilities Place of Performance. (a) Position, Duties, and Responsibilities. From the Initial Commencement Date through the date that the Spinoff is completed (the “Spinoff Date”), Executive shall be employed and serve as Executive Adviser-Real Estate of the Company and shall have such duties and responsibilities commensurate with such title and as the Company’s Chief Executive Officer (before the Spinoff) shall designate from time to time. Beginning with the Spinoff Date and during the remainder of the Term of Employment, Executive shall be employed and serve as the Chief Executive Officer and President of the Company (together with such other position or positions consistent with Executive’s title as the Board shall specify from time to time) and shall have such duties and responsibilities commensurate with such title and as the Board may designate from time to time. Executive shall at all times after the Spinoff Date be the highest ranking officer of the Company and shall report exclusively to the Board and/or such committees thereof as the Board may designate. In addition, on and after the Spinoff Date, Executive shall be appointed to serve as a director on the Board and, at each annual stockholders meeting during the Term of Employment, shall be nominated for re-election to the Board, in each case to the extent not inconsistent with the fiduciary duties of the Board in making such appointment and renomination. If requested by the Company, Executive also agrees to serve as the chief executive officer and/or director of any other member of the Company Group, in each case without additional compensation. Executive shall be based at the Company’s corporate headquarters in McLean, Virginia, unless and until the corporate headquarters are moved to another location, which will then be the location where Executive is based.
Appears in 1 contract
Sources: Executive Employment Agreement (Park Hotels & Resorts Inc.)
Position Duties and Responsibilities Place of Performance. (a) PositionAs from 27 November 2017, Dutiesthe Executive has been appointed as an Executive Officer of the Teva Group in the role of Executive Vice President, and Responsibilities. From the Initial Commencement Date through the date that the Spinoff is completed Growth Markets Commercial which was subsequently renamed as International Markets Commercial (the “Spinoff DateRole”). In such capacity, the Executive reports directly to the President and Chief Executive Officer of Teva Pharmaceutical Industries, Ltd. (“TPI”). In addition, the Executive has such additional executive duties and responsibilities as may be assigned to him by the President and Chief Executive Officer of TPI. If the Executive is appointed as a director or officer of TPI and/or any of its subsidiaries or affiliates (jointly: the “Teva Group” or the “Group Companies” and each severally a “Group Company”), the Executive shall serve in such capacity or capacities without additional compensation.
(b) The Executive’s principal place of employment is at TPE headquarters in the Netherlands, except that during the Relocation Term (as defined below) Executive’s principal place of employment shall be employed at TPI’s headquarters in Israel. The Executive understands and serve as agrees that it is expected that the Executive Adviser-Real Estate will be required to travel extensively (including internationally) in connection with the performance of his duties hereunder.
(c) Notwithstanding anything in this Agreement to the Company and shall have such duties and responsibilities commensurate with such title and as contrary, the Company’s Chief Executive Officer Executive, while outside of Israel, (before the Spinoffi) shall designate not have authority to bind TPI and (ii) shall be subject to such further restrictions as to his activities on behalf of TPI or its subsidiaries as may be determined by TPI from time to time. Beginning with the Spinoff Date and during the remainder of the Term of Employment, .
(d) The Executive shall be employed and serve as perform his duties under the Chief Executive Officer and President of the Company (together with such other position or positions consistent with Executive’s title as the Board shall specify from Employment Contract on a full-time to time) and shall have such duties and responsibilities commensurate with such title and as the Board may designate from time to time. Executive shall at all times after the Spinoff Date be the highest ranking officer of the Company and shall report exclusively to the Board and/or such committees thereof as the Board may designate. In addition, on and after the Spinoff Date, Executive shall be appointed to serve as a director on the Board and, at each annual stockholders meeting during the Term of Employment, shall be nominated for re-election to the Board, in each case to the extent not inconsistent with the fiduciary duties of the Board in making such appointment and renomination. If requested by the Company, Executive also agrees to serve as the chief executive officer and/or director of any other member of the Company Group, in each case without additional compensationbasis. Executive shall be based at required to occasionally perform his duties during weekends and/or on public holidays, and/or outside regular office hours and/or in excess of the Companynumber of contractual working hours, if such is reasonably necessary for the proper performance of the Executive’s corporate headquarters duties under the Employment Contract (“Overtime”). Sufficient remuneration for Overtime shall be deemed included in McLean, Virginia, unless the Base Salary and until the corporate headquarters are moved Executive shall therefore not be entitled to another location, which will then be the location where Executive is basedany (additional) remuneration for Overtime.
Appears in 1 contract
Sources: Employment Agreement (Teva Pharmaceutical Industries LTD)