Common use of Releases and Resignations Clause in Contracts

Releases and Resignations. Notwithstanding the provisions of Sections 4.1, 4.2 and 4.3, it shall be a condition to the Company's obligations to pay any amount to the Executive in excess of any amounts required by law that the Executive provide to the Company and its subsidiaries, officers, directors, employees and agents a complete general release of all claims, known or unknown, that the Executive may have against any of them. Such release shall be in customary form, and shall specifically include employment-related claims. In addition, upon termination of employment, the Executive shall, upon demand, resign as an officer and director of the Company or any subsidiary of the Company, as applicable.

Appears in 4 contracts

Samples: Employment Agreement (Giant Industries Inc), Employment Agreement (Giant Industries Inc), Employment Agreement (Giant Industries Inc)

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