Common use of RESIGNATION FROM BOARDS OF DIRECTORS Clause in Contracts

RESIGNATION FROM BOARDS OF DIRECTORS. In the event of the Executive’s termination of employment due to an Event of Termination or for Cause, the Executive shall have deemed to have resigned as a director of the Association, the Company, and any affiliate of the Association or the Company, effective immediately. This Section 9 shall constitute a resignation for all such purposes and the Executive agrees that the resignation(s) shall take effect immediately upon the termination of employment without any further action necessary on the part of the Executive the Association, the Company or any affiliate of the Association or the Company.

Appears in 3 contracts

Samples: Employment Agreement (Eureka Homestead Bancorp, Inc.), Employment Agreement (Eureka Homestead Bancorp, Inc.), Employment Agreement (Eureka Homestead Bancorp, Inc.)

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RESIGNATION FROM BOARDS OF DIRECTORS. In the event of the Executive’s termination of employment due to an Event of Termination or for Causeand the Executive is serving as a director of the Association, the Executive shall have deemed to have resigned Company or any affiliate of the Association or the Company, Executive’s service as a director of the Association, the Company, and any affiliate of the Association or the Company, effective immediatelyCompany shall immediately terminate. This Section 9 8 shall constitute a resignation notice for all such purposes and the Executive agrees that the resignation(s) shall take effect immediately upon the termination of employment without any further action necessary on the part of the Executive the Association, the Company or any affiliate of the Association or the Companypurposes.

Appears in 2 contracts

Samples: Employment Agreement (Poage Bankshares, Inc.), Employment Agreement (Poage Bankshares, Inc.)

RESIGNATION FROM BOARDS OF DIRECTORS. In the event of the Executive’s termination of employment due to an Event of Termination or for CauseTermination, the Executive shall have deemed to have resigned Executive’s service as a director of the Association, the Company, and any affiliate of the Association or the Company, effective immediatelyCompany shall immediately terminate. This Section 9 8 shall constitute a resignation notice for all such purposes and the Executive agrees that the resignation(s) shall take effect immediately upon the termination of employment without any further action necessary on the part of the Executive the Association, the Company or any affiliate of the Association or the Companypurposes.

Appears in 2 contracts

Samples: Employment Agreement (Poage Bankshares, Inc.), Employment Agreement (Poage Bankshares, Inc.)

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RESIGNATION FROM BOARDS OF DIRECTORS. In the event of the Executive’s termination of employment due to an Event of Termination or for CauseTermination, the Executive shall have deemed to have resigned Executive’s service, if any, as a director of the Association, the Company, and any affiliate of the Association or the Company, effective immediatelyCompany shall immediately terminate. This Section 9 8 shall constitute a resignation notice for all such purposes and the Executive agrees that the resignation(s) shall take effect immediately upon the termination of employment without any further action necessary on the part of the Executive the Association, the Company or any affiliate of the Association or the Companypurposes.

Appears in 1 contract

Samples: Employment Agreement (Poage Bankshares, Inc.)

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