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employment agreement provided in part:
AGREEMENT made * * * between Philip T. Chaplin of
Boston, Massachusetts (the “Employee”) and Rice, Heard
& Bigelow, Inc., a Massachusetts corporation (the
“Employer”).
In consideration of the Employee’s employment by
the Employer and the mutual covenants herein set forth,
Employer and Employee agree as follows:
1. DUTIES. Employer hereby employs Employee
actively to engage in the practice of fiduciary
management and related duties. Employee accepts such
employment and agrees to perform all such duties of a
nature consistent with his training and experience
which may be assigned to him by Employer, and, subject
always to fiduciary constraints and to the direction
and control of the Board of Directors of Employer * * *
provided, however, that Employer agrees not to impose
upon Employee any duty or restriction in connection
with such performance which would cause any violation
of fiduciary standards set forth by law or by any
governing instrument under which Employee is to
function or any other ethical or legal obligation
imposed upon the members of the fiduciary profession in
jurisdictions in which the Employee shall practice.
2. TERM. The employment shall commence as of the
date hereof, and shall continue until terminated as
hereinafter provided.
* * * * * * *
5. EXTENT OF SERVICES, OUTSIDE FEES, ETC.
Employee shall devote his entire attention and energies
diligently and faithfully to Employer’s business * * *.
Subject to fiduciary constraints, Employer shall
determine the specific duties to be performed by the
Employee, the means and manner by which those duties
shall be performed, and the extent by which those
duties shall be performed by other Employees of the
Employer. * * *
* * * * * * *
7. TERMINATION. This Agreement may be terminated
by either party on not less than sixty (60) days prior
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Last modified: May 25, 2011