Common use of RESIGNATIONS BY DIRECTORS AND EMPLOYEES Clause in Contracts

RESIGNATIONS BY DIRECTORS AND EMPLOYEES. OF THE PACKAGING GROUP. Packaging shall cause all of its directors and all employees of the Packaging Group to resign, effective as of the close of business on the Distribution Date, from all boards of directors or similar governing bodies (including committees and trusts responsible for benefit plans and compensation structures) of each member of the Automotive Group on which they serve, and from all positions as officers or employees of any member of the Automotive Group, except as otherwise set forth on Exhibit J hereto or in the Packaging Information Statement or as otherwise mutually agreed to in writing on or prior to the Distribution Date by Packaging and Tenneco.

Appears in 4 contracts

Samples: Distribution Agreement (Pactiv Corp), Tenneco Distribution Agreement (Tenneco Packaging Inc), Distribution Agreement (Tenneco Packaging Inc)

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