Resignation from Board Clause Samples
The 'Resignation from Board' clause outlines the process and requirements for a board member to voluntarily step down from their position. Typically, this clause specifies how notice of resignation must be given—such as in writing to the board or a designated officer—and may address the effective date of resignation or any obligations the resigning member must fulfill before departure. Its core function is to ensure a clear and orderly transition when a board member chooses to leave, minimizing disruption and maintaining proper governance procedures.
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Resignation from Board. Unless otherwise requested by the Board, upon the termination of Executive's employment for any reason, Executive shall immediately resign from the Board and Executive agrees that he shall be treated as so resigned upon termination of employment.
Resignation from Board. In the event Employee’s employment by the Company is terminated for any reason (other than Employee’s death), Employee shall immediately resign as a member of the Board and the board of directors of any of the Company’s subsidiaries. Nothing herein shall be deemed to limit the power of the shareholders of the Company to at any time remove any director, including, without limitation, Employee, in accordance with applicable law. All payments to Employees pursuant to this Agreement shall be conditioned upon Employee’s compliance with his obligations under this Section 9(j).
Resignation from Board. Upon or promptly following any termination of Executive’s employment with the Corporation, the Executive agrees to resign from (1) each and every board of directors (or similar body, as the case may be) of the Corporation and each of its affiliates on which the Executive may then serve (if any), and (2) each and every office of the Corporation and each of its affiliates that the Executive may then hold, and all positions that he may have previously held with the Corporation and any of its affiliates.
Resignation from Board. You agree that you will offer your resignation from the Board of Directors effective upon your Termination Date. The Board may accept or reject your offer of resignation within its sole and absolute discretion.
Resignation from Board. Upon a termination of the Executive’s employment under this Agreement for any reason, the Executive shall, if requested by the Company’s Board of Directors, promptly resign as a member of the Board of Directors of the Company or its direct or indirect subsidiaries.
Resignation from Board. In the event Employee is a member of the board of directors of the Company or any of its subsidiaries, and Employee's employment by the Company is terminated for any reason (other than Employee's death), Employee shall immediately resign as a member of such board of directors upon the written request of the Chairman of the Board. Nothing herein shall be deemed to limit the power of the shareholders of the Company to at any time remove any director, including, without limitation, Employee, in accordance with applicable law.
Resignation from Board. If [Executive/Employee] is a member of the Board as of the Qualifying Termination, [Executive/Employee] will not be eligible for the Severance Benefits unless he or she promptly resigns from the Board if requested to do so by a majority of the Board.
Resignation from Board. Employee shall not be entitled to receive any of the severance consideration described in Sections 5.2 and 5.3 above, unless Employee resigns from the Board of Directors in accordance with Section 5.8, below. If the Company requests such resignation until after payment of severance consideration has commenced hereunder, then the Company shall be excused from any further obligation to pay such severance consideration if Employee thereafter fails to resign from the Board of Directors in accordance with such Section 5.8.
Resignation from Board. Upon termination of Executive's ---------------------- employment with GX for any reason, Executive shall resign as of the date of such termination from the Board and any affiliate board of directors (provided that Executive shall not be required to resign from the AX Board unless his employment with AX is terminated).
Resignation from Board. Employee understands and agrees that upon submitting or receiving notice of termination of his employment with Employer as provided herein, and if Employee is a member of the Board of Directors of Employer or any of its affiliates at such time, he shall immediately submit in writing to Employer his resignation as a member of such Board of Directors.