If Bill Pulte leaves as FHFA Director before 2027, then the market resolves to Yes. Bill Pulte must have an actual departure date by vacating the role within the time period. <p>If the person leaves the role due to death (i.e., if the person dies while holding the role), all contracts on the person may resolve to the last fair price as determined in the sole discretion of the Exchange. Temporary leaves of absence, suspensions, or recusals do not constitute leaving, resigning from, or retiring from the role unless the individual formally and permanently ceases to hold the position. If the person vacates the role and then re-occupies the role, the contract may settle on the initial vacation of the role. If the role otherwise ceases to exist with no plausible successor, the contract may resolve to "No."</p> <p>For "leave," cessation of holding the role qualifies, including resignation, retirement, removal, expiration of term without renewal, recall, or other means by which the individual no longer occupies the role—this includes both voluntary early departure AND the natural expiration of a term.</p> This market will close and expire early if the specific individual leaves the role as defined in the payout criteria.