Certain Resignations. At or prior to the Distribution Date, Spinco shall cause each employee of any member of the Remainco Group who will not be employed by any member of the Spinco Group after the Distribution Date to be removed, effective not later than the Distribution Date, from all boards of directors or similar governing bodies of any member of the Spinco Group on which they serve, and from all positions as officers of any member of the Spinco Group in which they serve.
Appears in 2 contracts
Sources: Separation and Distribution Agreement (Everi Holdings Inc.), Separation and Distribution Agreement (International Game Technology PLC)
Certain Resignations. At or prior to the Distribution Closing Date, Spinco shall cause each employee of any member of the Remainco Group who will not be employed by any member of the Spinco Group after the Distribution Closing Date to be removed, effective not later than the Distribution Closing Date, from all boards of directors or similar governing bodies of any member of the Spinco Group on which they serve, and from all positions as officers of any member of the Spinco Group in which they serve.
Appears in 2 contracts
Sources: Separation and Sale Agreement (International Game Technology PLC), Separation and Sale Agreement (Everi Holdings Inc.)