Common use of Resignation as Officer or Director Clause in Contracts

Resignation as Officer or Director. Upon the termination of employment for any reason, Executive shall be deemed to have resigned each position (if any) that Executive then holds as an officer or director of the Company or any of its Subsidiaries or any Portfolio Company without any further act to be taken by Executive. Additionally, Executive shall execute and deliver to the Company promptly after the Company’s written request, any request for a resignation in form and substance reasonably acceptable to Executive. For the sake of clarity, this provision shall not apply to any right Executive may have under the Agreement Among Principals to continue to serve as a member of the Executive Committee following Executive’s retirement.

Resignation as Officer or Director. Upon the termination of employment for any reason, Executive shall be deemed to have resigned each position (if any) that Executive then holds as an officer or director (but not a director) of the Company or as an officer or director of any of its Subsidiaries or any Portfolio Company without any further act to be taken by Executive. Additionally, Executive shall execute and deliver to the Company promptly after the Company’s written request, any request for a resignation in form and substance reasonably acceptable to Executive. For the sake of clarity, this provision shall not apply to any right Executive may have under the Shareholders Agreement Among Principals to continue to serve as a member of the Board of Directors of the Company and/or the Executive Committee following Executive’s retirementtermination of employment.