Common use of Resignation as Director Clause in Contracts

Resignation as Director. If, for any reason, (a) Executive terminates his employment with the Corporation, or (b) the Corporation terminates Executive's employment under the terms of this Agreement, or (c) this Agreement expires without being renewed or extended, then Executive will resign as a director, effective upon the occurrence of such termination or expiration, whichever is applicable.

Resignation as Director. IfExecutive agrees that in the event his employment under this Agreement is terminated, for any reason, unless (a1) Executive terminates his employment with maintains an ownership interest in the CorporationCorporation of five percent (5%) or more, or (b2) the Corporation terminates Executive's employment under the terms of this Agreementtermination is due to retirement, or (c) this Agreement expires without being renewed or extended, then Executive will shall resign as a directordirector of Corporation and Bank, effective upon the occurrence or any affiliate or subsidiary thereof, if he is then serving as a director of any of such termination or expiration, whichever is applicableentities.

Resignation as Director. If, for any reason, ; (a) Executive terminates his employment with the Corporation, or or; (b) the Corporation terminates Executive's employment under the terms of this Agreement, or or; (c) this Agreement expires without being renewed or extended, then Executive will resign as a director, effective upon the occurrence of such termination or expiration, whichever is applicableapplicable if he is a director at that time.