Irrevocable Letter of Resignation Clause Samples

An Irrevocable Letter of Resignation is a contractual provision requiring an individual, typically a company director or officer, to submit a resignation letter that cannot be withdrawn once delivered. In practice, this letter is often held by a third party, such as the company or its legal counsel, and can be activated under specific circumstances, such as a breach of agreement or a change in control. The core function of this clause is to provide the company with a reliable mechanism to ensure the prompt and uncontested removal of the individual from their position if certain conditions are met, thereby reducing potential disputes or delays in leadership transitions.
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Irrevocable Letter of Resignation. Concurrently with the New Director’s appointment to the Board and as a condition to the Company’s obligations under this Agreement, the New Director will execute and deliver an irrevocable letter of resignation in the form attached hereto as Exhibit B.
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Irrevocable Letter of Resignation. An eligible employee must submit an irrevocable letter of resignation which is binding on the employee as of the date of the letter and will become effective once the resignation is accepted by the Board of Education. It is recommended that this irrevocable letter be submitted at least forty-five (45) days prior to the employee’s last day of work. Effective September 1, 2015, any member who is eligible for retirement under the terms of their New York State Retirement System and submits an irrevocable notice of retirement by February 28th shall receive a stipend. The effective date of retirement may be June 30th or on the date of retirement eligibility, whichever is later.
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Irrevocable Letter of Resignation. 1. An eligible employee must submit an irrevocable letter of resignation which is binding on the employee as of the date of the letter and will become effective once the resignation is accepted by the Board of Education. It is recommended that this irrevocable letter be submitted at least forty- five (45) days prior to the employee’s last day of work.
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Irrevocable Letter of Resignation. All unit members who became eligible for the local retirement incentive during the 2014-15 school year and who wish to apply for the local retirement incentive must submit an irrevocable letter of resignation to the Superintendent no later than the last Friday in January 2015. If such unit member fails to submit an irrevocable letter of resignation, the unit member will no longer be eligible for the incentive. If the unit member first becomes eligible for the incentive during the 2015-16 school year, he/she must submit an irrevocable letter of resignation to be received in the office of the Superintendent by the close of business on the last Friday in January 2016. If such unit member does not submit an irrevocable letter of resignation when first eligible, then he/she will no longer be eligible for the retirement incentive. If the unit member first becomes eligible for the incentive during the 2016-17 school year, he/she must submit an irrevocable letter of resignation to be received in the office of the Superintendent by the close of business on the last Friday in January 2017. If such unit member does not submit an irrevocable letter of resignation when first eligible, then he/she will no longer be eligible but the retirement incentive.
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Irrevocable Letter of Resignation. An eligible employee must submit an irrevocable letter of resignation in a form acceptable to the District to become effective on the effective date of retirement. Said letter is to be submitted to the Superintendent of Schools, or his/her designee, at least six months preceding such effective retirement date. In the event emergency circumstances exist, the Superintendent, or his/her designee, may waive the required six months notice.
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Irrevocable Letter of Resignation a. To be eligible, an Employee must submit an irrevocable letter of resignation by October 1st, which must be accompanied by a (TRS) member requested “Personal Statement of Benefits” and a “Benefit Estimate” confirmation of total years of service. In addition, an employee is considered to be eligible for the retirement incentive by meeting one of the following conditions: b. The Employee becomes sixty (60) years of age by July 1 of a school year and has five years TRS creditable service. c. The Employee qualifies to receive a full pension annuity by reason of being at least fifty-five (55) years of age and having attained thirty-five (35) years of non-upgraded TRS creditable service. d. The Employee qualifies to receive a full pension annuity by reason of being at least fifty-five (55) years of age and having attained thirty-eight (38) years of upgraded TRS creditable service.
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Irrevocable Letter of Resignation. The ValueAct Director has delivered to the Company, simultaneously with the execution of this Agreement, an irrevocable letter of resignation, in the form attached hereto as Exhibit B, that expires on the date of the 2023 Annual Meeting, pursuant to which the ValueAct Director resigns, subject to the Board’s acceptance of such resignation, from the Board and all applicable committees and subcommittees thereof in the event of any of the following: (i) ValueAct ceases to beneficially own at least 1.0% of the outstanding shares of Common Stock (provided, that for purposes of such calculation, the total outstanding shares of Common Stock as of the date of such determination shall be deemed to be the lesser of (1) the aggregate number of shares of Common Stock outstanding as of the date hereof or (2) the aggregate number of shares of Common Stock outstanding as of the date of such determination (in each case, as adjusted for any combinations, splits, recapitalizations or similar actions)), (ii) a judicial determination that ValueAct or the ValueAct Director has materially breached any of the terms of this Agreement, (iii) the employment of the ValueAct Director with ValueAct has ceased for any reason or (iv) ValueAct nominates one or more director candidates for election or appointment to the Board (including pursuant to the advance notice provisions for shareholder nominations or the proxy access provisions of the Company’s Amended and Restated Bylaws (as may be amended from time to time, the “Bylaws”)) (each of the matters described in clauses (i)-(iv) referred to as a “Resignation Trigger”). Upon the occurrence of any such event, the Company shall, within five (5) business days of such occurrence, notify the ValueAct Director of the Board’s election to accept or reject her resignation; provided, that if no such notification is provided within such five (5) business day period, the Board shall be deemed to have rejected the ValueAct Director’s resignation in respect of such event; provided, further, that any rejection of the ValueAct Director’s resignation pursuant to the foregoing shall not operate as or be construed to be a rejection of any other Resignation Trigger.
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Related to Irrevocable Letter of Resignation

  • Notice of Resignation If an employee desires to terminate her employment, she shall endeavour to forward a letter of resignation to the Employer four (4) weeks prior to the effective date of termination, and in any event, not less than two (2) weeks prior to the effective date of termination, provided however the Employer may accept a shorter period of notice.

  • Resignation of Representative A Representative may resign at any time by giving notice to the Company and all of the Holders of the Notes at least thirty (30) days before such resignation is to become effective. Upon the resignation of a Representative, a replacement shall be selected by the affirmative vote of Holders holding a majority of the Notes, measured by outstanding principal amount. If such Holders have not selected a replacement Representative within sixty (60) days following the effective date of the resignation, then Portal may, at any time, by giving notice to the Company and all of the Holders, designate a replacement Representative who shall not be related to or affiliated with Portal or the Company.

  • Letter of Reprimand If the employee displays no positive response to the verbal reprimand, the Director shall reprimand that employee by means of a letter of reprimand to the employee within sixty (60) days attendance in the workplace after the delivery of the verbal reprimand. A copy shall be sent concurrently to the Union office. Such letters shall become part of the employee’s record.

  • Amendment; Resignation This Agreement may be altered or amended only with the written consent of the parties hereto. The Escrow Agent (and any successor escrow agent) at any time may be discharged from its duties and obligations hereunder by the delivery to it of a notice of termination signed by the Company, or at any time the Escrow Agent may resign by giving written notice to such effect to the Issuer. Upon any such termination or resignation, the Escrow Agent shall deliver the Escrowed Amounts or the Fund to any successor escrow agent jointly designated by the other parties hereto in writing, or to any court of competent jurisdiction if no such successor escrow agent is agreed upon, whereupon the Escrow Agent shall be discharged of and from any and all further obligations arising in connection with this Escrow Agreement. The termination of services or resignation of the Escrow Agent shall take effect on the earlier of (i) the appointment of a successor (including a court of competent jurisdiction) or (ii) the day that is 30 days after the date of delivery: (A) to the Escrow Agent of the other parties’ notice of termination or (B) to the other parties hereto of the Escrow Agent’s written notice of resignation. If at that time the Escrow Agent has not received a designation of successor escrow agent, the Escrow Agent’s sole responsibility after that time shall be to keep the Escrowed Amounts or the Fund safe until receipt of a designation of a successor escrow agent or a joint written disposition instruction by the other parties hereto or an enforceable order of a court of competent jurisdiction. Without limiting the provisions of Section 8 hereof, the resigning Escrow Agent shall be entitled to be reimbursed by the Issuer for any expenses incurred in connection with its resignation, transfer of the Fund to a successor escrow agent or distribution of the Fund pursuant to this Section 6.

  • Director Resignations The Company shall use its reasonable best efforts to cause to be delivered to Parent resignations executed by each director of the Company in office as of immediately prior to the Effective Time and effective upon the Effective Time.