Common use of Other Consequences of Termination Clause in Contracts

Other Consequences of Termination. Upon the termination of Executive’s employment (for whatever reason and howsoever arising) Executive shall, without waiving any rights he may have pursuant to the terms hereof or otherwise: (i) at the request of the Board immediately resign without claim for compensation from any office, if any, held by him in the Company and any Affiliate (but without prejudice to any claim for damages for breach of this Agreement or for any compensation which otherwise may be payable pursuant to this Agreement or otherwise) and in the event of his failure to do so the Company is hereby irrevocably authorized to appoint some person in his name and on his behalf to sign and deliver such resignation(s) to the Board; and (ii) immediately repay all outstanding debts or loans due to the Company or any Affiliate, and the Company is hereby authorized to deduct from any payments due to Executive a sum in repayment of all or any part of any such debts or loans.