4Deemed Resignations Sample Clauses
The 'Deemed Resignations' clause establishes that an individual is considered to have resigned from their position under certain predefined circumstances, even if they have not formally submitted a resignation. Typically, this clause applies when specific events occur, such as the individual ceasing to hold a required qualification, failing to attend meetings for a set period, or being removed from a related role. Its core practical function is to ensure continuity and clarity in organizational governance by automatically addressing situations where a person's ongoing participation is no longer appropriate or feasible, thereby avoiding ambiguity about their status.
4Deemed Resignations. Unless otherwise agreed to in writing by the Company and Executive prior to the termination of Executive’s employment, any termination of Executive’s employment shall constitute (a) an automatic resignation of Executive as an officer of the Company and each affiliate of the Company and (b) an automatic resignation of Executive from the Board (if applicable), from the board of directors of any affiliate of the Company and from the board of directors or similar governing body of any corporation, limited liability entity or other entity in which the Company or any affiliate holds an equity interest and with respect to which board or similar governing body Executive serves as the Company’s or such affiliate’s designee or other representative.
4Deemed Resignations. Unless otherwise agreed to in writing by the Company or the Employer and Employee prior to the termination of Employee’s employment, any termination of Employee’s employment shall constitute (a) an automatic resignation of Employee as an officer of the Company and each affiliate of the Company and (b) an automatic resignation of Employee from the Board (if applicable), from the board of directors of any affiliate of the Company and from the board of directors or similar governing body of any corporation, limited liability entity or other entity in which the Company or any affiliate holds an equity interest and with respect to which board or similar governing body Employee serves as the Company’s or such affiliate’s designee or other representative.