Common use of Club Memberships Clause in Contracts

Club Memberships. Company shall obtain memberships providing Executive access to a country club and a health club, each as approved by the Remuneration Committee or the Board, and Company shall pay the initiation fees and monthly dues associated with such memberships. Executive’s membership in such country club and health club shall cease upon Executive’s termination of employment hereunder, and, to the extent applicable, such membership shall be transferred to Company (or its designee) upon such termination.