The individual must actually leave office and no longer hold their title. An announcement of resignation or intention to leave is not sufficient. The person who held the position at market issuance must be the one who leaves (not a successor). If a leader dies in office, all markets in the set settle at their last traded prices before the death, with the Exchange determining fair allocation if prices are not logically consistent. Leaders can leave office through resignation, removal, term limits, electoral defeat, coup, impeachment and removal, or other constitutional processes. The first leader to leave triggers resolution for all markets in the set - the one who left resolves to Yes, all others resolve to No.