Common use of Effect of Termination on Other Positions Clause in Contracts

Effect of Termination on Other Positions. If, on the date of his termination of employment with Employer, Employee is a member of the Board of Directors of the Company or any of its subsidiaries, or holds any other position with the Company or any of its subsidiaries, Employee shall be deemed to have resigned from all such positions as of the date of his termination of employment with Employer. Employee agrees to execute such documents and take such other actions as Employer may request to reflect such resignation.

Appears in 1 contract

Sources: Employment Agreement (Coastal Carolina Bancshares, Inc.)

Effect of Termination on Other Positions. If, on the date of his termination of employment with Employeror this Agreement, Employee is a member of the Board board of Directors directors of the Company Employer or any of its subsidiariesthe Employer’s Affiliates, or holds any other position with Parent or its Affiliates, unless otherwise requested by the Company or any of its subsidiariesParent, Employee shall be deemed to have resigned from all such positions as of the date of his termination of employment with the Employer. Employee agrees to execute such documents and take such other actions as the Employer and the Parent may reasonably request to reflect such resignation.

Appears in 1 contract

Sources: Employment Agreement (Financial Engines, Inc.)

Effect of Termination on Other Positions. If, on the date of his her termination of employment with Employer, Employee is a member of the Board of Directors of the Company or any of its subsidiaries, or holds any other position with the Company or any of its subsidiaries, Employee shall be deemed to have resigned from all such positions as of the date of his her termination of employment with Employer. Employee agrees to execute such documents and take such other actions as Employer may request to reflect such resignation.

Appears in 1 contract

Sources: Employment Agreement (Coastal Carolina Bancshares, Inc.)