Define: Resignation in lieu of dismissal

How is Resignation in lieu of dismissal defined in a legal contract?

• Resignation in lieu of dismissal means when a person steps down from their role voluntarily after receiving prior notice from the [organization] about the intent to terminate their role due to certain circumstances that merit it, or if within [number] months of the person's resignation, the board of directors or top leadership of the [organization] determines that the reason for resignation was related to an action that would have caused a termination. Seen in 8 SEC filings.
• Resignation in lieu of dismissal means when an employee voluntarily steps down from their position, if the [organization] already gave the employee prior notice of its plan to terminate them for circumstances constituting a serious cause, or within [number] days such resignation, if the [organization] finalizes that such resignation was to avoid a major cause for termination. Seen in 1 SEC filing.
• Resignation in lieu of dismissal means when an employee resigns voluntarily if the [organization] has given prior written notice to such employee about its intent to terminate them for reasons that constitute Cause, or within two months of the employee’s resignation if top leadership of the [organization] finalize that such resignation was linked to an action that would have caused a termination for Cause. Seen in 1 SEC filing.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of resignation in lieu of dismissal' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Resignation in lieu of dismissal means voluntary departure post-notification of impending termination due to serious causes or related actions by the [organization].

Relevant Contract Types

• Employment Contract
• Director Contract
• Severance Agreement
• Termination Agreement

Relevant Circumstances

• Workplace conflict situations.
• Performance-related issues.
• Breach of company policy or rules.

Relevant Sectors

• Corporate Sector
• Public Sector
• Non-profit Sector

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Genie Definition 2

• Resignation in lieu of dismissal means voluntary exit after or in anticipation of notification of termination for cause, as determined by the [organization].

Relevant Contract Types

• Consultant Contract
• Chief Executive Officer Contract
• Partnership Agreement

Relevant Circumstances

• Legal actions against the employee or partner.
• Ethical misconduct.
• Financial mismanagement.

Relevant Sectors

• Financial Services
• Tech Industry
• Healthcare Industry

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