Common use of Scope and Responsibilities Clause in Contracts

Scope and Responsibilities. 2.1 In compliance with the statutory rules and with responsibility to the Board, the CEO is to attend to all the business of the Company. The CEO is to undertake the day-to-day management and refer to the Company’s Board. 2.2 The CEO is to employ and dismiss the Company’s staff and determine the fields of work and powers of the staff. 2.3 The CEO is to be registered with the Danish Commerce and Companies Agency. 2.4 The other functions and responsibilities of the CEO appear from the position description which is to be determined by the Board and updated in mutual agreement between the Board and the CEO. Any material changes to the position description will have to be negotiated between the Board and the CEO. 2.5 The position description is appended as Appendix 1, and it is an integral part of this contract. 2.6 The CEO’s participation in and remuneration as a Board member and/or CEO in present or future subsidiaries of the Company is to be subject to separate agreement.

Scope and Responsibilities. 2.1 In compliance with the statutory rules and with responsibility to the Board, the CEO is to attend to all the business of the Company. The CEO is to undertake the day-to-day management and refer to the Company’s Board. 2.2 The CEO is to employ and dismiss the Company’s staff and determine the fields of work and powers of the staff. 2.3 The CEO is to be registered with the Danish Commerce and Companies AgencyBusiness Authority. 2.4 The other functions and responsibilities of the CEO appear from the position description which is to be determined by the Board and updated in mutual agreement between the Board and the CEO. Any material changes to the position description will have to be negotiated between the Board and the CEO. 2.5 The position description is appended as Appendix 1, and it is an integral part of this contract. 2.6 The CEO’s participation in and remuneration as a Board member and/or CEO in present or future subsidiaries of the Company is to be subject to separate agreement.