Common use of Resignations and Release Clause in Contracts

Resignations and Release. If the employment of the Executive is terminated for any of the reasons set forth in Article 6 hereof, the Executive shall immediately tender his resignation from any position he may hold as an officer or director of the Corporation. Upon the payment of the appropriate amounts described in this Agreement, if any, the employee agrees to accept such payment as full and complete satisfaction of any and all outstanding obligations, from the Corporation to the Executive. The Executive further agrees to provide the Corporation, prior to any payments hereunder, with an executed Release in a form satisfactory to the Corporation, with respect to all matters arising out of this Agreement, the termination of this Agreement and the termination of the employment relationship.

Resignations and Release. If the employment of the Executive is terminated for any of the reasons set forth in Article 6 1.7 hereof, the Executive shall immediately tender his resignation from any position he may hold as an officer or director of the Corporation. Upon the payment of the appropriate amounts described in this Agreement, if any, the employee agrees to accept such payment as full and complete satisfaction of any and all outstanding obligations, from the Corporation to the ExecutiveCompany. The Executive further agrees to provide the CorporationCompany, prior to any payments hereunder, with an executed Release in a form satisfactory to the CorporationCompany, with respect to all matters arising out of this Agreement, the termination of this Agreement and the termination of the employment relationship.