Director Resignation Letter Related to Board Declassification – NVR, Inc.

Contract Categories: Human Resources › Separation Agreements
Summary

This letter is from a director of NVR, Inc. who agrees to resign from the Board of Directors, effective immediately before the shareholder vote at the 2011 Annual Meeting. The resignation is conditional upon shareholders approving proposed amendments to the company's Restated Articles of Incorporation and Bylaws at the 2010 Annual Meeting. The purpose is to facilitate NVR, Inc.'s transition to a declassified Board of Directors.

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EX-10.1 2 w77490exv10w1.htm EX-10.1 exv10w1
Exhibit 10.1
February 22, 2010
[Director]
NVR, Inc.
11700 Plaza America Drive, Suite 500
Reston, Virginia 20190
In accordance with NVR, Inc.’s transition to a declassified Board of Directors, I write this letter in connection with my proposed nomination for election to the Board of Directors at NVR, Inc.’s 2011 Annual Meeting of Shareholders.
Conditioned upon shareholder approval of the proposed amendments to NVR’s Restated Articles of Incorporation and Bylaws at the 2010 Annual Meeting of Shareholders, I hereby irrevocably submit my resignation from the Board of Directors effective immediately prior to the shareholder vote on the election of directors at the 2011 Annual Meeting.
Sincerely,
 
[Director]