Common use of Resignation as Director Clause in Contracts

Resignation as Director. If Executive's employment with the Company is terminated for any reason, and at the time of such termination Executive is serving on the Company's Board of Directors, Executive shall resign his position on the Company's Board of Directors effective no later than the effective date of the termination of Executive's employment with the Company; provided, that Executive's obligation to resign as set forth in this Section 7(e) shall be conditioned upon the Company's payment to Executive of all applicable payments and other benefits arising from such termination as required by this Agreement.

Appears in 2 contracts

Samples: Delta Entertainment Group, Inc., Intergraph Corp

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Resignation as Director. If the Executive's employment with the Company is terminated for any reason, and at the time of whether such termination Executive is serving on voluntary or involuntary, the Company's Board of Directors, Executive shall resign his position on as a director of the Company's Board of Directors , such resignation to be effective no later than the effective date of the termination of the Executive's employment with the Company; provided, that Executive's obligation to resign as set forth in this Section 7(e) shall be conditioned upon the Company's payment to Executive of all applicable payments and other benefits arising from such termination as required by this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Service Merchandise Co Inc)

Resignation as Director. If ExecutiveCEO's employment with the Company Corporation is terminated for any reason, and at the time of such termination Executive CEO is serving on the CompanyCorporation's Board of Directors, Executive CEO shall resign his position on the CompanyCorporation's Board of Directors effective no later than the effective date of the termination of ExecutiveCEO's employment with the CompanyCorporation; provided, that ExecutiveCEO's obligation to resign as set forth in this Section 7(e4(e) shall be conditioned upon the CompanyCorporation's payment to Executive CEO of all applicable payments and other benefits arising from such termination as required by this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Xcraft Enterprises, LLC)

Resignation as Director. If In the event of Executive's ’s termination of employment with the Company is terminated for any reason, and at the time of such termination Executive is serving on the Company's Board of Directors, Executive shall resign his position on any director positions then held with the Company's Board , and Executive hereby presently and irrevocably tenders his resignation as a director of Directors the Company and of any subsidiary of the Company in which Executive may become a director effective no later than upon the effective date of the your termination of Executive's employment with the Company; provided, that Executive's obligation to resign as set forth in this Section 7(e) shall be conditioned upon the Company's payment to Executive of all applicable payments and other benefits arising from such termination as required by this Agreement.

Appears in 1 contract

Samples: Executive Employment Agreement (Cyanotech Corp)

Resignation as Director. If Unless otherwise agreed to by the Company, if the Executive's employment with the Company is terminated ends for any reason, the Executive agrees to resign from all offices and at directorships for the time of such termination Executive is serving Company and its affiliates effective on the Company's Board of Directors, Executive shall resign his position on the Company's Board of Directors effective no later than the effective last date of the termination of Executive's employment with the Company; provided, that Executive's obligation to resign as set forth in this Section 7(e) shall be conditioned upon the Company's payment to Executive of all applicable payments and other benefits arising from such termination as required by this Agreement.

Appears in 1 contract

Samples: Executive Employment Agreement (Counterpath Corp)

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Resignation as Director. If the Executive's ’s employment with the Company is terminated for any reason, and at the time of such termination Executive is serving agrees that he will resign as a director effective on the Company's Board of Directors, Executive shall resign his position on the Company's Board of Directors effective no later than the effective date of the termination of Executive's employment with the Company; provided, that Executive's obligation to resign as set forth in this Section 7(e) shall be conditioned upon the Company's payment to Executive of all applicable payments and other benefits arising from such termination as required by this Agreementtermination.

Appears in 1 contract

Samples: Executive Employment Agreement (Braintech Inc)

Resignation as Director. If Executive's employment with the Company is terminated for any reason, and at the time of such termination Executive is serving on the Company's Board of Directors, Executive shall resign his position on the Company's Board of Directors effective no later than the effective date of Upon the termination of the Executive's ’s employment with for any reason and effective as of the Company; providedTermination Date, that Executive's obligation to resign as set forth in this Section 7(e) the Executive shall be conditioned upon deemed to have resigned from the Company's payment Executive’s position as a member of the USFD Board, as well as the board of directors (or similar governing body) of any of its subsidiaries and Affiliates (as defined below). On or immediately following such Termination Date, the Executive shall confirm the foregoing by submitting to Executive the Employer in writing a confirmation of all applicable payments and other benefits arising from such termination as required by this Agreementthe Executive’s resignation(s).

Appears in 1 contract

Samples: Executive Severance Agreement (US Foods Holding Corp.)

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