RESIGNATIONS AND ACCEPTANCE OF ELECTION Sample Clauses

RESIGNATIONS AND ACCEPTANCE OF ELECTION. Contemporaneous with the execution of this Agreement, Paisley and Xxxxxxxx shall resign all positions as directors and officers of TII-Utah and TII-California by executing and delivering to the Secretary or another executive officer of the Companies the Resignations attached hereto as Exhibits A and B, respectively; provided, however, that Paisley shall resign first and effective upon his resignation, the two remaining directors, Xxxx Xxxxx ("Guest") and Xxxxxxxx, shall elect Xxxxx a director of each of the Companies by executing the Directors' Action by Unanimous Written Consent in the forms attached as Exhibits C and D, to fill the vacancy caused by the resignation of Paisley and further provided, that Xxxxxxxx shall resign immediately thereafter and effective upon his resignation, the two remaining directors, Guest and Xxxxx, shall elect Xxxxxxx a director of each of the Companies by executing the Directors' Action by Unanimous Written Consent in the forms attached as Exhibit E and F, to fill the vacancy caused by the resignation of Xxxxxxxx. Xxxxx and Xxxxxxx each agree to accept their respective election as a director of each of TII-Utah and TII-California and to use their best business judgment and business skills for and on behalf of, and for the benefit of, the Companies. The resignations of directors Paisley and Xxxxxxxx shall be effective only after said directors have executed the Unanimous Written Consent pursuant to Paragraph 6, below, and attached as Exhibit I, regarding the issuance of shares of TII-Utah capital stock.
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