Resignation as CEO. Effective as of the Effective Date, the Executive shall resign from his position as Chief Executive Officer of the Company. Such resignation shall be automatic and without any further action on the part of the Executive or the Company, and the Executive shall execute such additional documentation with respect thereto as reasonably requested by the Company. The Executive and the Company intend and anticipate that the Executive’s resignation from his position as the Chief Executive Officer of the Company and transition to the position of Special Advisor shall not constitute a “separation from service” for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (“Code”), and the regulations promulgated thereunder (“Section 409A”).
Resignation as CEO. The Executive hereby resigns all positions as an officer and employee of the Company, including his CEO position, effective as of the Effective Date. Likewise, Executive hereby resigns all positions as an employee, director, representative or agent of all Company subsidiaries, whether direct or indirect, and Company affiliates effective as of the Effective Date. The Executive will remain and does not resign his position as a Director on the Company’s Board of Directors (the “Board”).
Resignation as CEO. MxXxxxxx hereby tenders his resignation as Chief Executive Officer of the Company and each Subsidiary under that certain Employment Agreement dated October 5, 2005 between the Company and MxXxxxxx (the “Employment Agreement”), such resignations to take effect upon the appointment by the Board of Directors of the Company (the “Board”) of his successor, but in no event later than July 31,2007.
Resignation as CEO. Executive hereby resigns from his current position as the Company's CEO, which resignation shall become effective without further action by Executive or the Company on the earlier of (a) the date Company hires a new CEO, or (b) August 31, 2004 (the earlier of such dates, the "Transition Date"). Prior to effectiveness of such resignation, Executive shall continue to perform his current duties, subject to review of all major decisions and general coordination with and review by the Executive Committee of the Board that was established on May 26, 2004 (the "Executive Committee"), of which Executive is a member, and shall perform any other duties that may be assigned to him by the Board and/or the Executive Committee (including but not limited to assisting and cooperating with the transition of his duties) until the Transition Date. The Company shall reimburse Executive for all reasonable and necessary travel and other expenses that he may incur in connection with his performance of any duties hereunder, in accordance with the Company's normal timetable and policies for expense reimbursements. The Company also shall continue to pay Executive his current base salary ($37,500.00 per month) and shall continue to provide him with employee benefits generally provided to other senior executives until August 31, 2004. Thereafter, the Company shall provide Executive with the benefits and compensation described in Section 3 below, subject to the terms and conditions set forth herein.
Resignation as CEO. Xxxxxxxx’x voluntarily resignation from the position of Chief Executive Officer is effective June 30, 2015 (the “Resignation Date”). Between the date this Agreement is presented to Xxxxxxxx and the Resignation Date, Xxxxxxxx agrees he will not make any material changes to Company operations including but not limited to organizational structure, strategy, personnel, processes, and administrative policies without the express written consent of the Board of Directors. Upon the Resignation Date, Xxxxxxxx will no longer be authorized or permitted to incur any expense, obligations or liabilities on behalf of Company or engage in any duties and responsibilities except the Transition Duties outlined below.
Resignation as CEO. Effective as of the Effective Date, the Executive does hereby relinquish his position as Chief Executive Officer of the Company and, upon request by the Company, any position as an officer or director of any direct or indirect subsidiary of the Company. Executive acknowledges and agrees that the changes to the terms of his employment with the Company contemplated by this Agreement (including, without limit, the change from Chief Executive Officer to Executive Chairman) shall not constitute “Good Reason” under the KERA or any other agreement between Executive or the Company.
Resignation as CEO. As soon as practicable after the Closing, Mr. Lxxxx Xxxxxxx shall resign from the position of chief executive officer of the Company.
Resignation as CEO. Effective as of the Chairman Date, Executive hereby resigns from his role as CEO of the Company. From the date hereof through the Chairman Date, the terms and conditions of Executive’s employment shall continue to be governed by the Employment Agreement. Executive acknowledges and agrees that as of the Chairman Date, he shall not be entitled to any payments or benefits pursuant to Section 9 of the Employment Agreement or to any other severance-type benefits in connection with such resignation (however, Executive’s entitlements pursuant to Section 9 of the Employment Agreement remain in effect until the Chairman Date).
Resignation as CEO. Effective December 31, 2006, Xx. Xxxx shall resign as President and Chief Executive Officer of the Company, and as an officer and member of the Board of Directors of each of the Company’s subsidiaries.
Resignation as CEO. Employee hereby resigns his position of Chief Executive Officer of Company and Company hereby accepts Employee’s resignation from such position effective 5 p.m. Pacific Standard Time on May 1, 2015 (the “Effective Time”).
