Common use of Resignation as Chief Executive Officer Clause in Contracts

Resignation as Chief Executive Officer. Executive shall resign from his positions as the Company’s President, Chief Executive Officer and Secretary and as a member of the boards of directors of subsidiaries of the Company effective on October 23, 2012 (the “Effective Date”).

Resignation as Chief Executive Officer. Executive shall resign from his positions Employee hereby resigns as the Company’s President, Chief Executive Officer and Secretary and as a member of the boards of directors of subsidiaries an executive officer of the Company effective on October 23, 2012 (as of the “Effective Date”), and the Company accepts such resignation.

Resignation as Chief Executive Officer. Executive shall resign from his positions resigns as the Company’s President, Chief Executive Officer and Secretary and as a member of the boards of directors of subsidiaries of the Company effective on October 23, 2012 (the “Effective Date”)immediately upon execution of this Agreement by both Executive and Company.

Resignation as Chief Executive Officer. Executive shall resign from his positions Employee hereby resigns Employee’s position as the Company’s President, Chief Executive Officer and Secretary all other employee and officer positions of Company, including other employee, officer and director positions of its subsidiaries and affiliates and to take such other actions, if any, as a member of the boards of directors of subsidiaries of the Company effective on October 23, 2012 (the “Effective Date”).may be necessary to immediately effect such