Automatic Resignations Clause Samples
Automatic Resignations. Upon notice of termination of employment Executive shall, automatically and without further action by any party, be deemed to have resigned from all directorships with the Employer and any of its subsidiaries and affiliates. Upon termination of employment, Executive shall, automatically and without further action by any party, be deemed to have resigned from all offices and other capacities with the Employer and any of its subsidiaries and affiliates.
Automatic Resignations. Executive agrees that in the event his employment under this Agreement is terminated for any reason, including without limitation upon the expiration or termination of the Employment Period, Executive shall resign and by this Agreement does upon such event resign as a director of the Corporation and the Bank, or any affiliate or subsidiary thereof, if he is then serving as a director of any of such entities.