Resignation of Xxxxxxx. At such time as Xxxxxxx owns less than one million (1,000,000) Shares OR upon purchase by the Company and/or its designee of five hundred thousand (500,000) of the Shares on or before September 1, 2000, (i) Xxxxxxx shall immediately resign as a member of the Board of Directors of the Company; and (ii) Xxxxxxx shall immediately resign as an employee of the Company and terminate that certain Employment Agreement by and between CD Universe, Inc. and Xxxxxxx Xxxxxxx dated as of October 1, 1998, without liability to any party to this Agreement."
Resignation of Xxxxxxx. Immediately upon ratification of this Agreement by the Board in a meeting duly complying with the Rules governing the Company and the Board, Xxxxxxx shall submit his resignation as an officer and director of the Company and of any of its,subsidiaries or affiliates. The letter shall be xxxxxxxxx.xx the form attached as Exhibit B to this Agreement.
Resignation of Xxxxxxx. In connection with this Pledge Agreement, Xxxxxxx has executed and delivered to Aero Xxxxxxx'x undated resignation as a director and officer of Xxxxx XX, which resignation shall be effective, without any further action by Xxxxxxx, on the occurrence of an Event of Default hereunder.
Resignation of Xxxxxxx. Concurrently with the execution of this ---------------------- Agreement, Xxxxxxx shall agree to resign as of April 1, 1998 as an officer and employee of the Bank by executing and delivering to the Bank a resignation in the form set forth on Exhibit "A" attached hereto and made a part hereof.
Resignation of Xxxxxxx. On the Effective Date, Xxxxxxx will submit to the Company, and the Company will accept, a letter of resignation, in which Xxxxxxx resigns, effective immediately, as a member of the Board and as the sole officer of the Company.
Resignation of Xxxxxxx. Xxxxxxx hereby resigns from his position as Chairman of the Board and Chief Executive Officer of Signal and from any and all other offices, positions and duties which he now holds with Signal, or with any subsidiary or division thereof, including, but not limited to positions, duties, and responsibilities he may now hold with AMW, Inc. and The Shirt Shed, Inc. 2. Status of Employment Agreements, Mutual Release. The Signal Employment Agreement dated April 1, 1995, ("Signal Employment Agreement") and the AMW Employment Agreement, February 16, 1993 (collectively, the "Employment Agreements"), and all rights and liabilities thereunder, are of no force and effect and each party releases the other from any claim they may have by virtue of the Employment Agreements or any other duties arising out of the employmennt relationship other than as expressly reserved by this agreement, and provided that Signal expressly does not release Xxxxxxx from claims for indemnification or contribution brought by any third party, as set forth in Secion 11 of this Agreement. 3.
Resignation of Xxxxxxx. Effective June 24, 1996, Xxxxxxx resigned as a director and officer of Holdco and each of the Affiliated Companies on which he was an officer and a member of the Board of Directors.
Resignation of Xxxxxxx. In the event that Xxxxxxx resigns (except in the case of resignation due to Total Disability or for Good Reason) during the Employment Term or any Extended Employment Term, Xxxxxxx shall be entitled to receive all Base Salary earned and accrued to the date of resignation, but all other rights of Xxxxxxx hereunder shall terminate as of the date of Xxxxxxx' resignation, except as otherwise provided by law.
Resignation of Xxxxxxx. Pursuant to the negotiation and as further consideration for execution and delivery of this Agreement, Xxxxxxx has elected Xxxx Xxxxx to the board of directors of SKNT and has tendered his resignation as an officer and director of SKNT. The parties agree that Xxxxxxx shall retain ownership of all SKNT shares issued and outstanding in Xxxxxxx’x name.
Resignation of Xxxxxxx. Effective upon the execution of this Agreement, Xxxxxxx shall resign as an officer and director of the Company, and XxXxxx shall be appointed as the President, Secretary and Treasurer of the Company and shall serve as the sole-member of the Company's Board of Directors.
