Subject to the terms and conditions hereof, the Executive shall continue to serve as Executive Vice President and Chief Operating Officer of the Company, reporting to the Chief Executive Officer of the Company and the Board of Directors (the “ Board ”) of the Company.  The Executive shall have such duties and responsibilities commensurate with those performed by him on the Effective Date, as defined in Section 2 below, and such other duties and responsibilities, consistent with the duties and responsibilities normally performed by the chief operating officer or the most senior executive responsible for operations in other similar companies, as may be assigned to the Executive from time to time by the Chief Executive Officer of the Company or the Board.  The Executive’s principal place of employment shall be the principal offices of the Company currently located in Statesville, North Carolina, subject to such reasonable travel as the performance of his duties and the business of the Company may require.