Resignation from Board of Directors. If the Executive is a director of the Post-Transaction Corporation or any of its Affiliates and his status as an officer and employee is terminated for any reason other than death, the Executive will, if requested by the Post-Transaction Corporation, immediately resign as a director of the Post-Transaction Corporation and its Affiliates. If such resignation is not received within 20 business days after the Executive actually receives written notice from the Post-Transaction Corporation requesting the resignation, the Executive will forfeit any right to receive any payments pursuant to this Agreement.
Resignation from Board of Directors. In the event Executive’s employment under this Agreement is terminated for any reason, if applicable, Executive’s service as a Director of the Corporation, the Bank, and any affiliate or subsidiary thereof shall immediately terminate. This Section 3(f) shall constitute a resignation notice for such purposes.
Resignation from Board of Directors. If Employee is a director of the Company and his employment is terminated for any reason other than death, the Employee shall, if requested by the Company, immediately resign as a director of the Company. If such resignation is not received when so requested, the Employee shall forfeit any right to receive any payments pursuant to this Agreement.
Resignation from Board of Directors. If the Executive is a director of the Company and his status as an employee is terminated for any reason other than death, the Executive shall, if requested by the Company, and as a condition to be paid or reimbursed any amounts or benefits hereunder, immediately resign as a director of the Company.
Resignation from Board of Directors. Within forty-eight (48) hours of the termination of Employee’s employment with the Company and Parent, Employee shall submit to Parent a written resignation from the board of directors of all Consolidated Companies on which Employee is a director.
Resignation from Board of Directors. Consultant acknowledges and agrees that, effective upon execution of this Agreement, he resigns as a member of the Board.
Resignation from Board of Directors. The Employee will resign from his/her directorship of the Company and each of its subsidiaries and affiliates (and all other directorships, offices, and trusteeships, held in connection with his/her employment) by signing, dating and returning a letter in the form attached to this Agreement at Schedule 1 to Axxxxxx Xxxxxxxxx, American International Group, Inc., 80 Xxxx Xxxxxx, Xxxxx 00, Xxx Xxxx, XX 00000 and undertakes to execute all further documents and do such further things as are necessary in order to give full effect to such resignations. The Employee acknowledges and agrees that the Severance benefit set forth in Section II and the Supplemental Health & Life Payment set forth in Section IV of this Agreement is contingent upon Employee executing and returning such resignation letter.
Resignation from Board of Directors. Xxxxxxx acknowledges that a condition precedent to his being elected to the position of President and Chief Executive Officer and receiving any of the compensation or benefits set forth in this Agreement, was his agreement to execute and deliver to the Company an irrevocable letter of resignation from the Board of Directors of the Company, in a form reasonably satisfactory to the Company. The resignation shall provide that if Xxxxxxx'x employment ends for any reason pursuant to this Section 7, Xxxxxxx tenders his resignation from the Board of Directors simultaneously with the termination of employment. The Board of Directors shall have unfettered discretion to accept or not accept that resignation.
Resignation from Board of Directors. Upon cessation of Executive’s employment by Employer for any reason and if Executive shall then be a member of the Board of Directors of PHI or MPC, Executive shall immediately resign from the Board of Directors of MPC and PHI, as applicable.
Resignation from Board of Directors. Upon cessation of Executive’s employment by Employer, for any reason or reasons, Executive shall immediately resign from the Board of Directors of Holdings, Transnetyx and Harmonyx, as applicable.