Common use of Resignation as Director and Officer Clause in Contracts

Resignation as Director and Officer. Immediately upon termination of the Executive’s employment with the Employer for any reason, the Executive will resign from any and all positions then held as a director or officer of the Employer and of any subsidiary, parent or affiliated entity of the Employer. Executive hereby agrees to sign such undated resignation letters in advance, on the Effective Date, and such resignation letters to be held in escrow by Employer’s counsel. Further, Executive hereby authorized the Employer and or Employer’s counsel to date the resignation letters upon the occurrence of Executives termination of employment from Employer in accordance with this Section 6 hereunder.