Resignation as President and Chief Executive Officer. XxXxxxxxx agrees to resign as President and Chief Executive Officer of the Company effective on such date set forth in a written notice signed by a majority of the non-employee members of the Board and which effective date will be at least 15 calendar days following the date of delivery of the notice or such earlier date agreed to by XxXxxxxxx and the Company. If XxXxxxxxx is still the President and Chief Executive Officer of the Company on and after December 31, 2003, then XxXxxxxxx will also have the right to resign from such position, at his discretion, after providing the Company with written notice at least 30 calendar days prior to the effective date of such resignation. The effective date of any such resignation under this Section 1 is referred to in this Agreement as the "TRANSITION DATE".
Resignation as President and Chief Executive Officer. Effective as of the Transition Date, Xxxxxx shall resign from serving as the President and Chief Executive Officer of the Company and from all other positions Xxxxxx then holds as an officer and employee of the Company or of any of the Company’s subsidiaries. Xxxxxx hereby agrees to execute any and all documentation to effectuate such resignations upon request by the Company, but he shall be treated for all purposes as having so resigned from such positions on the Transition Date, regardless of when or whether he executes any such documentation. The Parties acknowledge and further agree that Sections 1 through 7 and Sections 9-12 of the Employment Agreement shall be terminated on the Transition Date without any further action.
Resignation as President and Chief Executive Officer. Effective as of February 1, 2012 (the “Resignation Date”), the Executive shall resign from serving as the President and Chief Executive Officer of the Company and, except as provided in Section 2 of this Agreement, from all other positions the Executive then holds as an officer and employee of the Company or of any of the Company’s Affiliates and as a member of the Board and the board of directors of any of the Company’s Affiliates. The Executive hereby agrees to execute any and all documentation to effectuate such resignations upon request by the Company, but he shall be treated for all purposes as having so resigned from such positions on the Resignation Date, regardless of when or whether he executes any such documentation.
Resignation as President and Chief Executive Officer. You hereby resign from the offices of President and Chief Executive Officer of the Company and from any and all offices you may hold with the Company's affiliates, effective as of 11:59 PM on October 31, 2012. In addition, effective as of as such time, you hereby resign from any and all directorships you may hold with the Company's affiliates. You agree to execute any and all documentation to effectuate such resignations upon request by the Company, but you will be treated for all purposes as having so resigned as of the time set forth herein, regardless of when or whether you execute any such documentation. As used in this Agreement, the term “affiliate” means any entity controlled by, controlling, or under common control with, the Company.
Resignation as President and Chief Executive Officer. Effective July 17, 2006, the Employee hereby resigns as President and Chief Executive Officer of the Company.
Resignation as President and Chief Executive Officer. As of the Effective Time, Executive hereby voluntarily resigns as President and Chief Executive Officer of the Company and the Bank and as a member of the board of directors of the Bank. Except as otherwise provided herein, Executive also voluntarily resigns from all other positions, including as an officer, director or committee member, with any subsidiary or affiliate of either the Company or the Bank. Executive shall be designated as a “director emeritus” of the Bank immediately upon the Effective Time pursuant to the Bank’s policies and procedures.
Resignation as President and Chief Executive Officer. The Executive hereby confirms his resignation of all positions that the Executive held as an officer of the Company, including his positions as President and Chief Executive Officer of the Company, and the Company confirms its acceptance of such resignations, effective December 1, 2002 or such earlier date as the Company and the Executive mutually agree (the "Resignation Date"). The Executive shall receive a severance payment of $167,500 to be paid by the Company in a lump sum on January 15, 2003. Such payment shall be subject to normal withholdings for payroll taxes and similar amounts.
Resignation as President and Chief Executive Officer. Effective as of the end of the day on September 29, 2016 (the "Resignation Date"), Foate acknowledges and agrees to resign as President and Chief Executive Officer of the Company, but agrees to remain in his position as a member of the Board. Xxxxx agrees to take any and all further acts necessary to accomplish such resignation.
