Common use of The Position Clause in Contracts

The Position. 3.1. As active Chairman of the Board of the Company, Makov shall participate and direct all of the meetings of the Company’s board of directors and the Company’s board of directors’ committees (to which he shall be appointed), and will act to advance and implement the Company’s business strategy, as required from time to time, in accordance with the Company’s needs. Acceptance of appointment as Chairman of the Board of the Company is the same as Makov confirming that he is prepared to dedicate his time and efforts in order to meet the requirements of the law in connection with his service as a director in a publicly held company. 3.2. In the framework of his aforesaid service, Makov will dedicate the time required for the purpose of fulfilling his position and advancing the Company’s interests and objectives, including assisting in the determination of the Company’s strategy, accompanying and guiding the Company’s management, and assistance in and accompanying the Company in its transactions.

The Position. 3.1. As active Chairman of the Board of the Company, Makov shall will participate and direct all of the meetings of the Company’s board of directors and the Company’s board of directors’ committees (to which he shall be appointed), and will act to advance and implement the Company’s business strategy, as required from time to time, in accordance with the Company’s needs. Acceptance of appointment as Chairman of the Board of the Company is the same as Makov confirming that he is prepared to dedicate his time and efforts in order to meet the requirements of the law in connection with his service as a director in a publicly held company. 3.2. In the framework of his aforesaid service, Makov will dedicate the time required for the purpose of fulfilling his position and advancing the Company’s interests and objectives, including assisting in the determination of the Company’s strategy, accompanying and guiding the Company’s management, and assistance in and accompanying the Company in its transactions, for a total of not less than 20 hours per month.