Resignation as a Director on Termination of Employment Sample Clauses
The 'Resignation as a Director on Termination of Employment' clause requires an individual to step down from their position as a director if their employment with the company ends. In practice, this means that when an employee who also serves as a director is terminated or resigns from their job, they must also formally resign from the board of directors, ensuring there is no overlap between employment status and board membership. This clause helps maintain clear governance and prevents former employees from retaining decision-making authority within the company after their employment has ended.
Resignation as a Director on Termination of Employment. If Executive’s employment by Company is terminated for any reason or for no reason, whether by way of resignation, Disability, or termination by Company with or without Cause, and if Executive is then a member of the Board of Directors of Company or any Related Company, Executive shall within two business days after such termination of employment resign from the Board of Directors of Company and from the board of directors of each and every Related Company, by delivering to Company (and each Related Company, as applicable) a letter or other written communication addressed to the Board of Directors of Company (and each Related Company, as applicable) stating that Executive is resigning from the Board of Directors of Company (and each Related Company, as applicable) effective immediately. A business day shall be any day other than a Saturday, Sunday, or federal holiday on which federal offices are closed.
Resignation as a Director on Termination of Employment. If Executive’s employment by Company is terminated for any reason or for no reason, whether by way of resignation, Permanent Incapacitation, or termination by Company with or without Cause, and if Executive is then a member of the Board, Executive shall within two (2) calendar days after such termination of employment resign from the Board, by delivering to Company a letter or other written communication addressed to the Board stating that Executive is resigning from the Board effective immediately. A business day shall be any day other than a Saturday, Sunday, or federal holiday on which federal offices are closed. As a condition to receipt of the severance benefits, if applicable, Employee agrees to provide written confirmation of such resignations to the Company.
Resignation as a Director on Termination of Employment. If Executive’s employment is terminated for any reason or for no reason, and if Executive is then a member of the Board of Directors of the Company or of any Affiliate, Executive will within two (2) days after such termination of employment resign from the Board of the Company and any Affiliate by delivering to the Company (and each Affiliate, as applicable) a letter or other written communication addressed to the Board stating that Executive is resigning from the Board effective immediately.
Resignation as a Director on Termination of Employment. If Executive’s employment by OncoCyte is terminated for any reason or for no reason, whether by way of resignation, Disability, or termination by OncoCyte with or without Cause, and if Executive is then a member of the Board of Directors of OncoCyte or any Subsidiary, Executive shall within two business days after such termination of employment resign from the Board of Directors of OncoCyte and from the board of directors of each and every Subsidiary, by delivering to OncoCyte (and each Subsidiary, as applicable) a letter or other written communication addressed to the Board of Directors of OncoCyte (and each Subsidiary, as applicable) stating that Executive is resigning from the Board of Directors of OncoCyte (and each Subsidiary, as applicable) effective immediately. A business day shall be any day other than a Saturday, Sunday, or federal holiday on which federal offices are closed.
Resignation as a Director on Termination of Employment. Upon termination of Executive’s employment for any reason by either party, Executive hereby agrees that Executive shall automatically be treated as having resigned from any offices or positions related to the Company (including as a member of the Board of Directors, if applicable) or any of its affiliates, and shall timely execute any documents required to effectuate the same.
Resignation as a Director on Termination of Employment. If Executive’s employment by BioTime is terminated for any reason or for no reason, whether by way of resignation, Disability, or termination by BioTime with or without Cause, and if Executive is then a member of the Board of Directors of BioTime or any Related Company, Executive shall within two business days after such termination of employment resign from the Board of Directors of BioTime and from the board of directors of each and every Related Company, by delivering to BioTime (and each Related Company, as applicable) a letter or other written communication addressed to the Board of Directors of BioTime (and each Related Company, as applicable) stating that Executive is resigning from the Board of Directors of BioTime (and each Related Company, as applicable) effective immediately. A business day shall be any day other than a Saturday, Sunday, or federal holiday on which federal offices are closed.
Resignation as a Director on Termination of Employment. If Executive’s employment by Asterias is terminated for any reason or for no reason, whether by way of resignation, Disability, or termination by Asterias with or without Cause, and if Executive is then a member of the Board or any subsidiary of Asterias, Executive shall within two business days after such termination of employment resign from the Board and from the board of directors of each and every subsidiary of Asterias, by delivering to Asterias (or subsidiary as applicable) a letter or other written communication addressed to the Board (or subsidiary as applicable) stating that Executive is resigning from the Board(or subsidiary of Asterias as applicable) effective immediately. A business day shall be any day other than a Saturday, Sunday, or federal holiday on which federal offices are closed.
Resignation as a Director on Termination of Employment. If Executive’s employment by Company is terminated for Cause, and if Executive is then a member of the Board, Executive shall within two (2) calendar days after such termination of employment resign from the Board, by delivering to Company a letter or other written communication addressed to the Board stating that Executive is resigning from the Board effective immediately. A business day shall be any day other than a Saturday, Sunday, or federal holiday on which federal offices are closed. As a condition to receipt of the severance benefits, if applicable, Employee agrees to provide written confirmation of such resignations to the Company. Notwithstanding the foregoing, for so long as Executive shall have the right to designate a nominee to the Board of Directors under the terms of the Merger Agreement (defined below), in the event Executive is required to resign from the Board of Directors in accordance with this clause (vi) Executive shall continue to have the right to designate an independent third party (who may not be Executive or a member of his family) as a nominee to the Board of Directors subject to the approval of the Board of Directors not to be unreasonably withheld.