Resignation from the Board. Executive understands and agrees that if he is a member of the Board at the time his employment with the Company terminates, whether with or without cause and whether voluntary or involuntary, and as a further condition of his receipt of any severance benefits to which he otherwise might be entitled under this Agreement, he will submit his resignation as a member of the Board effective as of his last day of employment.
Appears in 6 contracts
Samples: Employment Agreement (Luna Innovations Inc), Employment Agreement (Luna Innovations Inc), Employment Agreement (Luna Innovations Inc)
Resignation from the Board. Executive understands and agrees that if he is a member Upon termination of the Board at the time his Executive’s employment with the Company terminatesfor any reason, whether with or without cause and whether voluntary or involuntary, and as a further condition of his receipt of any severance benefits to which he otherwise might be entitled under this Agreement, he will submit Executive shall offer his resignation as a member of the Board effective and as an officer or director of his last day any subsidiary or affiliate of employmentthe Company in which he holds such positions.
Appears in 2 contracts
Samples: Employment Agreement (Planar Systems Inc), Employment Agreement (Planar Systems Inc)
Resignation from the Board. Executive understands and agrees that if he is a member Upon termination of the Board at the time his Executive’s employment with the Company terminatesfor any reason, whether with or without cause and whether voluntary or involuntary, and as a further condition of his receipt of any severance benefits to which he otherwise might be entitled under this Agreement, he will submit Executive shall offer his resignation as a member of the Board effective and as an officer or director of his last day any subsidiary or affiliate of employmentthe Company in which he/she holds such positions.
Appears in 2 contracts
Samples: Confidentiality, Invention Ownership Agreement and Noncompetition Agreement (Bioject Medical Technologies Inc), Executive Employment Agreement (Bioject Medical Technologies Inc)
Resignation from the Board. Executive understands and agrees that if he is a member Upon termination of the Board at the time his Executive's -------------------------- employment with the Company terminatesfor any reason, whether with or without cause and whether voluntary or involuntary, and as a further condition of his receipt of any severance benefits to which he otherwise might be entitled under this Agreement, he will submit Executive shall offer his resignation as a member of the Board effective and as an officer or director of his last day any subsidiary or affiliate of employmentthe Company in which he holds such positions.
Appears in 1 contract