Executive shall serve as the Company’s Chief Executive Officer and shall report directly to the Chairman of the Board of Directors of the Company (the “ Board ”). In addition, it is contemplated that at all times during the effectiveness of this Agreement, Executive shall be nominated for election to the Board by the stockholders of the Company so that he may continue to serve as a director of the Company in accordance with the Company’s governing instruments. Executive’s service on the Board will be subject to any required stockholder approval and shall be without additional compensation. If Executive’s employment with the Company terminates for any reason, Executive shall immediately resign all positions that Executive then holds with the Company or any of its affiliates, unless otherwise agreed to with the Board. If Executive fails to so resign, the Board shall thereupon have the right to remove Executive from all such positions without further action or notice.