Common use of Directorship Term Clause in Contracts

Directorship Term. The "Directorship Term", as used in this Agreement, shall mean the period commencing on the date hereof and terminating on the earliest of the following to occur: (a) the death of the Director ("Death"); (b) the termination of the Director from the position of member of the Board by the mutual agreement of the Company and the Director; (c) the resignation by the Director from the Board if after the date hereof, the chief executive officer of his current employer determines that the Director's continued service on the Board conflicts with his fiduciary obligations to his current employer (a "Fiduciary Resignation") and; (d) the resignation by the Director from the Board if the board of directors or the chief executive officer of his current employer requires the Director to resign and such resignation is not a Fiduciary Resignation.

Directorship Term. The "Directorship Term", as used in this Agreement, shall mean the period commencing on the date hereof and terminating on the earliest of the following to occur: (a) the death of the Director ("Death")Director; (b) the termination of the Director from the position of member of the Board by the mutual agreement of the Company and the DirectorBoard; (c) the resignation by the Director from the Board if after the date hereof, the chief executive officer of his current employer determines that the Director's continued service on the Board conflicts with his fiduciary obligations to his current employer (a "Fiduciary Resignation") ); and; (d) the resignation by the Director from the Board if the board of directors or the chief executive officer of his current employer requires the Director to resign and such resignation is not a Fiduciary Resignation.

Directorship Term. The "Directorship Term", as used in this Agreement, shall mean the period commencing on the date hereof and terminating on the earliest of the following to occur: (a) the death of the Director ("Death"); (b) the termination of the Director from the position of member of the Board by the mutual agreement of the Company and the DirectorBoard; (c) the resignation by the Director from the Board if after the date hereof, the chief executive officer of his current employer determines that the Director's continued service on the Board conflicts with his fiduciary obligations to his current employer (a "Fiduciary Resignation") and; (d) the resignation by the Director from the Board if the board of directors or the chief executive officer of his current employer requires the Director to resign and such resignation is not a Fiduciary Resignation.