RELATIONSHIP ESTABLISHED AND DUTIES Sample Clauses

The 'Relationship Established and Duties' clause defines the nature of the relationship between the parties and outlines their respective responsibilities. It typically clarifies whether the relationship is that of employer-employee, independent contractor, partnership, or another arrangement, and specifies the key obligations each party must fulfill under the agreement. By clearly establishing these parameters, the clause helps prevent misunderstandings about roles and expectations, ensuring both parties are aware of their duties and the legal context of their collaboration.
RELATIONSHIP ESTABLISHED AND DUTIES. 1. The Bank hereby will employ the employee as President and Chief Executive Officer, to hold the title of President and Chief Executive Officer, and to perform such services and duties as the Board of Directors may, from time to time, designate during the term hereof. Subject to the terms and conditions hereof, employee will perform such duties and exercise such authority as are customarily performed and exercised by persons holding such office, subject to the general direction of the Board of Directors of the Bank, exercised in good faith in accordance with standards of reasonable business judgment. 2. Employee shall serve on the Board of Directors of the Bank, and shall be entitled to Directors' Fees just like any other director, and shall serve as a member of its Executive Committee, subject to the terms hereof. 3. Employee accepts such employment and shall devote his full time, attention, and efforts to the diligent performance of his duties herein specified and as an officer and director of the Bank and will not accept employment with any other individual, corporation, partnership, governmental authority, or any other entity, or engage in any other venture for profit which the Bank may consider to be in conflict with his or its best interest or to be in competition with the Bank's business, or which may interfere in any way with the employee's performance of his duties hereunder. Any exception to this must be made by notification and approval of the Board.
View SourceView Similar (6)
RELATIONSHIP ESTABLISHED AND DUTIES. 1. The Bank hereby will employ the employee as Executive Vice President - Loans, to hold the title of Executive Vice President - Loans and to perform such services and duties as the CEO and Board of Directors may, from time to time, designate during the term hereof. Subject to the terms and conditions hereof, employee will perform such duties and exercise such authority as are customarily performed and exercised by persons holding such office, subject to the general direction of the CEO of the Bank, exercised in good faith in accordance with standards of reasonable business judgment. 2. Employee accepts such employment and shall devote his full time, attention, and efforts to the diligent performance of his duties herein specified and as an officer of the Bank and will not accept employment with any other individual, corporation, partnership, governmental authority, or any other entity, or engage in any other venture for profit which the Bank may consider to be in conflict with his or its best interest or to be in competition with the Bank's business, or which may interfere in any way with the employee's performance of his duties hereunder. Any exception to this must be made by notification and approval of the Board.
View SourceView Similar (4)
RELATIONSHIP ESTABLISHED AND DUTIES. The bank hereby will employ the employee as President to hold the title of President and to perform such services and duties as the Board of Directors may, from time to time, designate during the term hereof. Subject to the terms and conditions hereof, employee will perform such duties and exercise such authority as are customarily performed and exercised by person hold such office, subject to the general direction of the Board of Directors of the Bank, exercised in good faith in accordance with standards of reasonable business judgment.
View Source
RELATIONSHIP ESTABLISHED AND DUTIES. 1. The Bank hereby employs the Executive as Chief Execution Officer of the Bank, to hold the title of President and Chief Executive Officer, and to perform such services and duties as the Bank's Board of Directors may, from time to time, designate during the term hereof. Subject to the terms and conditions hereof, the Executive will perform such duties and exercise such authority as are customarily performed and exercised by persons holding such office, subject to the general direction of the Board of Directors, exercised in good faith in accordance with the standards of reasonable business judgment. 2. The Executive shall serve on the Board of Directors of the Bank and as a member of its Executive Committee, subject to the terms hereof. 3. The Executive accepts such employment and shall devote his full time attention and efforts to the diligent performance of his duties herein specified as an officer and director, and will not accept employment with any other individual, corporation, partnership, governmental authority or other entity, or engage in any other venture for profit (other than as a passive investor) which the Bank may consider to be in conflict with his or its best interest, or which may interfere in any way with the Executive's performance of his duties hereunder. i. As an exception to this covenant the Executive shall be permitted to serve on the Board of Directors of other banking institutions, subject to Board approval, so long as those institutions shall not have a regular business located within Lee ▇▇▇nty, State of Florida, and as long as such service does not interfere with said executive services to the Bank.
View Source
RELATIONSHIP ESTABLISHED AND DUTIES 
View Source
RELATIONSHIP ESTABLISHED AND DUTIES. A. The Bank and the Holding Company hereby will employ the Employee as President and Chief Executive Officer, to hold the title of President and Chief Executive Officer, and to perform such services and duties as the Board of Directors of the Bank and the Holding Company may, from time to time, designate during the term hereof. Subject to the terms and conditions hereof, Employee will perform such duties and exercise such authority as are customarily performed and exercised by persons holding such office, subject to the general direction of the Board of Directors of the Bank and the Holding Company, exercised in good faith in accordance with standards of reasonable business judgement. Without limiting the generality of the foregoing, to the extent permitted by law and the governing instruments of the Bank, the Employee shall have the ultimate responsibility and authority for the hiring and firing of any and all employees and/or officers of the Bank. B. Employee shall serve on the Board of Directors of Big Lake National Bank ("The Bank") and Big Lake Financial Corporation ("the Holding Company"). C. Employee accepts such employment and shall devote his full time, attention, and efforts to the diligent performance of his duties herein specified and as an officer and director of the Bank and Holding Company and will not accept employment with any other individual, corporation, partnership, governmental authority, or any other entity, or engage in any other venture for profit which the Bank and/or the Holding Company may consider to be in conflict with his or its best interest or to be in competition with the Bank's or the Holding Company's business, or which may interfere in any way with the Employee's performance of his duties hereunder. Any exception to this must be upon the prior written consent of the Board of Directors of the Bank and the Company (hereinafter referred to as "the Board").
View Source
RELATIONSHIP ESTABLISHED AND DUTIES 
View Source

Related to RELATIONSHIP ESTABLISHED AND DUTIES

  • Services and Duties of USBFS USBFS shall provide the following transfer agent and dividend disbursing agent services to the Fund: A. Receive and process all orders for the purchase, exchange, transfer, and/or redemption of Fund shares in accordance with Rule 22c-1 under the 1940 Act, other applicable regulations, and as specified in the Fund's prospectus (the "Prospectus”). B. Process purchase and redemption orders with prompt delivery, where appropriate, of payment and supporting documentation to the shareholder based on the shareholder’s or the Trust’s custodian instructions, and record the appropriate number of shares being held in the appropriate shareholder account. C. Process redemption requests received in good order and, where relevant, deliver appropriate documentation to the Trust's custodian. D. Pay proceeds upon receipt from the Trust's custodian, where relevant, in accordance with the instructions of redeeming shareholders. E. Process transfers of shares in accordance with the shareholder's instructions, after receipt of appropriate documentation from the shareholder as specified in the Prospectus. F. Prepare and transmit payments, or apply reinvestments for income dividends and capital gains distributions declared by the Trust with respect to a Fund, after deducting any amount required to be withheld by any applicable laws, rules and regulations and in accordance with shareholder instructions. G. Serve as the Fund’s agent in connection with systematic plans including, but not limited to, systematic investment plans, systematic withdrawal plans, and systematic exchange plans. H. Make changes to shareholder records, including, but not limited to, address and plan changes (e.g., systematic investment and withdrawal, dividend reinvestment). I. Handle load and multi-class processing, including rights of accumulation and purchases by letters of intent in accordance with the Prospectus. J. Record the issuance of shares of each Fund and maintain, pursuant to Rule 17Ad-10(e) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), a record of the total number of shares of each Fund which are authorized, issued and outstanding. K. Prepare ad-hoc reports as necessary at prevailing rates. L. Mail shareholder reports and Prospectuses to current shareholders. M. Prepare and file U.S. Treasury Department Forms 1099 and other appropriate information returns required with respect to dividends and distributions for all shareholders. N. Provide shareholder account information upon shareholder or Trust requests and prepare and mail confirmations and statements of account to shareholders for all purchases, redemptions and other confirmable transactions as agreed upon with the Trust. O. Mail and/or obtain shareholders’ certifications under penalties of perjury and pay on a timely basis to the appropriate federal or state authorities any taxes to be withheld on dividends and distributions paid by the Trust, all as required by applicable federal and state tax laws and regulations. P. Answer correspondence from shareholders, securities brokers and others relating to USBFS’ duties hereunder within required time periods established by applicable regulation. Q. Reimburse the Fund for all material losses resulting from “as of” processing errors for which USBFS is responsible in accordance with the “as of” processing guidelines set forth on Exhibit B hereto. R. Calculate average assets held in shareholder accounts for purposes of paying Rule 12b-1 and/or shareholder servicing fees as directed by a Fund S. Provide service and support to financial intermediaries including but not limited to trade placements, settlements, and corrections.

  • Positions and Duties As of the Effective Date, the Executive will continue to serve as Chief Executive Officer of the Company. The Executive will render such business and professional services in the performance of his duties, consistent with the Executive’s position within the Company, as will reasonably be assigned to him by the Company’s Board of Directors (the “Board”).

  • Services and Duties As Administrator, and subject to the supervision and control of the Trustees of each Trust, EIS will hereafter provide facilities, equipment and personnel to carry out the following administrative services for operation of the business and affairs of each Trust and each of its series: (a) Prepare, file and maintain each Trust’s governing documents, including the Declaration of Trust (which has previously been prepared and filed), the By laws, minutes of meetings of Trustees and shareholders, and proxy statements for meetings of shareholders; (b) Prepare and file with the Securities and Exchange Commission and the appropriate state securities authorities the registration statements for each Trust and each Trust’s shares and all amendments thereto, reports to regulatory authorities and shareholders, prospectuses, proxy statements, and such other documents as may be necessary or convenient to enable the Trust to make a continuous offering of its shares; (c) Prepare, negotiate and administer contracts on behalf of each Trust with, among others, each Trust’s distributor, and custodian and transfer agent; (d) Supervise each Trust’s fund accounting agent in the maintenance of each Trust's general ledger and in the preparation of each Trust's financial statements, including oversight of expense accruals and payments and the determination of the net asset value of each Trust's assets and of each Trust’s shares, and of the declaration and payment of dividends and other distributions to shareholders; (e) Calculate performance data of each Trust for dissemination to information services covering the investment company industry; (f) Prepare and file each Trust's tax returns; (g) Examine and review the operations of each Trust's custodian and transfer agent; (h) Coordinate the layout and printing of publicly disseminated prospectuses and reports; (i) Prepare various shareholder reports; (j) Assist with the design, development and operation of new series of each Trust; (k) Coordinate shareholder meetings; (l) Provide general compliance services; and (m) Advise each Trust and its Trustees on matters concerning the Trust and its affairs. The foregoing, along with any additional services that EIS shall agree in writing to perform for each Trust hereunder, shall hereafter be referred to as "Administrative Services." Administrative Services shall not include any duties, functions, or services to be performed for each Trust by such Trust’s investment adviser, distributor, custodian or transfer agent pursuant to their agreements with such Trust.

  • Responsibilities and Duties (a) As Cleveland City President, the Executive shall report to the Chief Executive Officer and will perform all duties and will have all powers associated with these positions, as set forth in any job description provided to the Executive by the Bank or as may be set forth in the bylaws of the Bank. (b) During the period of his employment hereunder, except for reasonable periods of absence occasioned by illness, reasonable vacation periods, and other reasonable leaves of absence approved by the board of directors of the Bank, the Executive will devote all of his business time, attention, skill and efforts to the faithful performance of his duties under this Agreement, including activities and duties directed by the Chief Executive Officer and the board of directors of the Bank. Notwithstanding the preceding sentence, subject to the approval of the board of directors of the Bank, the Executive may serve as a member of the board of directors of business, community and charitable organizations, provided that in each case the service shall not materially interfere with the performance of his duties under this Agreement, adversely affect the reputation of the Bank or any other affiliates of the Bank, or present any conflict of interest. Nothing in this Section 1.2 shall prevent the Executive from managing personal investments and affairs, provided that doing so also does not interfere with the proper performance of the Executive’s duties and responsibilities under this Agreement.

  • Office and Duties (a) During the Term, the Executive shall serve as the Chief Business Officer of the Company, as well as in any other position to which the Executive is appointed by the Company’s Board of Directors (the “Board”) or the Company’s Chief Executive Officer (the “CEO”). The Executive shall report to the CEO or his designee(s) and shall perform such duties and have such responsibilities as the CEO or his designee(s) may determine from time to time and which are consistent with Executive’s then current position with the Company. (b) During the Term, the Executive shall devote all of his working time, energy, skill and best efforts to the performance of his duties hereunder in a manner that will faithfully and diligently further the business and interests of the Company. (c) During the Term, the Executive shall not be engaged in any business activity which, in the reasonable judgment of the Board, conflicts with the Executive’s duties hereunder, whether or not such activity is pursued for pecuniary advantage. Should the Executive wish to provide any services to any other person or entity other than the Company or to serve on the board of directors of any other entity or organization, the Executive shall submit a written request to the Board for consideration and approval by the Board in its sole discretion.