Employment Termination and Resignation Sample Clauses

Employment Termination and Resignation. Zacks and Xxxxx agree that Zacks is retiring and his employment will be terminated as of July 1, 2004, (i) entitling Zacks to certain benefits provided by section 13, (ii) subjecting Zacks to certain obligations required by sections 11 and 12, and (iii) providing a means for resolving disputes pursuant to section 14 of the Employment Agreement. Except for the forgoing sections and except as otherwise provided in this Agreement, the Employment Agreement shall terminate effective upon the execution of this Agreement, and Xxxxx and Zacks agree that all remaining provisions of the Employment Agreement shall be of no further force and effect as of the date of this Agreement. Effective on the date of this Agreement, Zacks shall cease having any authority or responsibility for the day-to-day operations of Xxxxx (except as Senior Chairman of the Board with respect to the take-out financing as described in the next paragraph) and shall become and be a non-operational employee of Xxxxx until July 1, 2004 with authority and responsibility only as set forth in this Agreement. Also effective on the date of this Agreement, Zacks hereby resigns all of his positions as an officer of Xxxxx or any of its subsidiaries, but shall remain as a member of the Board of Xxxxx. Zacks shall be designated by the Board as the "Senior Chairman of the Board" of Xxxxx and Xxxxx agrees shall take such actions as are necessary and in its view appropriate to create this position under the Company's Code of Regulations. As Senior Chairman of the Board, Zacks shall preside over meetings of shareholders and of the Board until a Chairman of the Board is duly elected. Zacks, as Senior Chairman of the Board, shall be the Board's representative, unless and until otherwise determined by the Board, to work with consultants or other representatives of Xxxxx in Barry's negotiation of the take-out financing currently being considered by Xxxxx (i.e., continuing to be consulted regarding the selection of and negotiation with potential lenders and to receive copies of term sheets, letters of intent and loan documents being exchanged between Xxxxx and potential lenders). The Board's present intention is to propose to Barry's shareholders at its next annual meeting an amendment to the Code of Regulations that would permit the Chairman of the Board to be someone other than the Chief Executive Officer. If shareholders approve such amendment, it is the present intention of the Board to nominate and elect Zacks ...
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Related to Employment Termination and Resignation

  • Termination and Resignation Your services as a Director may be terminated for any or no reason by the determination of the Board. You may also terminate your services as a Director for any or no reason by delivering your written notice of resignation to the Company (“Resignation”), and such Resignation shall be effective upon the time specified therein or, if no time is specified, upon receipt of the notice of resignation by the Company. Upon the effective date of the termination or Resignation, your right to compensation hereunder will terminate subject to the Company's obligations to pay you any compensation that you have already earned and to reimburse you for approved expenses already incurred in connection with your performance of your Duties as of the effective date of such termination or Resignation.

  • Employment Termination This Agreement and the employment of the Executive shall terminate upon the occurrence of any of the following:

  • Employment Termination Date The Employment Termination Date shall be as follows: (i) if the Executive’s employment is terminated by Executive’s death, the date of Executive’s death; (ii) if the Executive’s employment is terminated pursuant to any other provision of this Agreement, the date specified in the Notice of Termination (the “Employment Termination Date”).

  • At-Will Employment; Termination The Company and Executive acknowledge that Executive’s employment is and shall continue to be at-will, as defined under applicable law, and that Executive’s employment with the Company may be terminated by either party at any time for any or no reason, with or without notice. If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided in this Agreement. Executive’s employment under this Agreement shall be terminated immediately on the death of Executive.

  • OBLIGATIONS SURVIVE TERMINATION OF EMPLOYMENT Executive agrees that any and all of Executive’s obligations under this Agreement, including but not limited to Exhibits B and C, shall survive the termination of employment and the termination of this Agreement.

  • Resignation and Retirement Any Trustee may resign his trust or retire as a Trustee, by written instrument signed by him and delivered to the other Trustees or to any officer of the Trust, and such resignation or retirement shall take effect upon such delivery or upon such later date as is specified in such instrument.

  • Term of Employment; Termination (a) The “

  • Agreement Termination This Agreement will be in effect for an indefinite period and may be terminated as to new reinsurance at any time by either party giving ninety (90) days written notice of termination. The day the notice is mailed to the other party's home office, or, if the mail is not used, the day it is delivered to the other party's home office or to an officer of the other party will be the first day of the ninety (90) day period. During the ninety (90) day period, this Agreement will continue to operate in accordance with its terms.

  • Termination and Resignation of Agent (a) The Agent may be terminated at any time upon ten (10) days prior written notice from the Lead Securitization Note Holder. In the event that the Agent is terminated pursuant to this Section 30, all of its rights and obligations under this Agreement shall be terminated, other than any rights or obligations that accrued prior to the date of such termination.

  • TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION (a) The Term of Employment may be terminated by the Company at any time:

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