Common use of Resignation, Retirement and Removal Clause in Contracts

Resignation, Retirement and Removal. Any Trustee may resign or retire as a Trustee by an instrument in writing signed by him and delivered or mailed to the Chair, if any, the president or the secretary, and such resignation or retirement shall be effective upon such delivery, or at a later date according to the terms of the instrument. The Trustees may adopt policies from time to time relating to the terms of office and or retirement of the Trustees. Any Trustee who has who has become incapacitated by illness or injury as determined by a majority of the other Trustees or declared incompetent by a court of appropriate jurisdiction, may be retired by written instrument signed by a majority of the other Trustees. Except as aforesaid, any Trustee may be removed from office only (i) by action of at least two-thirds (2/3) of the voting power of the Outstanding Shares, or (ii) by the action of at least two-thirds (2/3) of the remaining Trustees, specifying the date when such removal shall become effective. Except to the extent expressly provided in a written agreement to which the Trust is a party or in a written policy adopted by the Trustees, no resigning, retiring or removed Trustee shall have any right to any compensation for any period following his resignation, retirement or removal, or any right to damages on account of such resignation, retirement or removal. Notwithstanding the foregoing, nothing in this paragraph shall be deemed to prohibit a resigning, retiring or removed Trustee from being covered by insurance related to his actions as Trustee, or any indemnification that such Trustee otherwise would be entitled to under Section 9.5 hereof.

Resignation, Retirement and Removal. Any Trustee may resign or retire as a Trustee by an instrument in writing signed by him and delivered or mailed to the Chairchair, if any, the president President or the secretarySecretary of the Trust, and such resignation or retirement shall be effective upon such delivery, or at a later date according to the terms of the instrument. The Trustees may adopt policies from time to time relating to the terms of office and or and/or retirement of the Trustees. Any Trustee who has who has become incapacitated by illness or injury injury, as determined by a majority of the other Trustees Trustees, or declared incompetent by a court of appropriate jurisdiction, may be retired by written instrument signed by a majority of the other Trustees. Except as aforesaid, any Trustee may be removed from office with or without cause and only (i) by action of at least two-thirds (2/3) of the voting power a majority of the Outstanding Shares, or (ii) by the action of at least two-thirds (2/3) a majority of the remaining other Trustees, specifying the date when such removal shall become effective. Except to the extent expressly provided in a written agreement to which the Trust is a party or in a written policy adopted by the Trustees, no resigningresigned, retiring retired, or removed Trustee shall have any right to any compensation for any period following his resignation, retirement retirement, or removal, or any right to damages on account of such resignation, retirement retirement, or removal. Notwithstanding the foregoing, nothing all Trustees shall have a mandatory retirement age, and shall retire on the last day of the calendar year in this paragraph shall be deemed which he or she attains the age of 75 years; provided, however, that the Trustees may unanimously consent to prohibit extend the term of any Trustee for up to three additional calendar years pursuant to policies and provisions, either in the Trust’s By-Laws or in a resigningseparate policy approved by the Trustees, retiring or removed Trustee from being covered by insurance related permitting and governing such extensions to his actions as Trustee, or any indemnification that such Trustee otherwise would be entitled to under Section 9.5 hereofthe term of office.

Resignation, Retirement and Removal. Any Trustee may resign or retire as a Trustee by an instrument in writing signed by him and delivered or mailed to the Chair, if any, the president or the secretary, and such resignation or retirement shall be effective upon such delivery, or at a later date according to the terms of the instrument. The Trustees may adopt policies Any Trustee who has attained a mandatory retirement age or term limit established pursuant to, or who is otherwise required to retire in accordance with, any written policy adopted from time to time relating by at least three-quarters (3/4) of the Trustees shall, automatically and without action of such Trustee or the remaining Trustees, be deemed to have retired in accordance with the terms of office and or retirement such policy, effective as of the Trustees. Any Trustee who has who has become incapacitated by illness or injury as date determined by a majority of the other Trustees or declared incompetent by a court of appropriate jurisdiction, may be retired by written instrument signed by a majority of the other Trusteesin accordance with such policy. Except as aforesaid, any Trustee may be removed from office only (i) by action of at least two-thirds (2/3) of the voting power of the Outstanding Shares, or (ii) for cause by the action of at least twothree-thirds quarters (2/33/4) of the remaining Trustees, specifying the date when such removal shall become effective. As used in this Section 5.4, “cause” means (a) willful misconduct or gross negligence which is materially injurious to the Trust, (b) fraud or embezzlement, or (c) a conviction of, or a plea of “guilty” or “no contest” to, a felony. Except to the extent expressly provided in a written agreement to which the Trust is a party or in a written policy adopted by the Trustees, no resigning, retiring or removed Trustee shall have any right to any compensation for any period following his resignation, retirement or removal, or any right to damages on account of such resignation, retirement or removal. Notwithstanding the foregoing, nothing in this paragraph shall be deemed to prohibit a resigning, retiring or removed Trustee from being covered by insurance related to his actions as Trustee, or any indemnification that such Trustee otherwise would be entitled to under Section 9.5 hereof.

Resignation, Retirement and Removal. Any Trustee may resign or retire as a Trustee by an instrument in writing signed by him and delivered or mailed to the Chair, if any, the president President or the secretarySecretary, and such resignation or retirement shall be effective upon such delivery, or at a later date according to the terms of the instrument. The Trustees may adopt policies from time to time relating to the terms of office and or retirement of the Trustees. Any Trustee who has who has become incapacitated by illness or injury as determined by a majority of the other Trustees or declared incompetent by a court of appropriate jurisdiction, may be retired by written instrument signed by a majority of the other Trustees. Except as aforesaid, any Trustee may be removed from office only (i) by action of at least two-thirds (2/3) of the voting power of the Outstanding Shares, or (ii) by the action of at least two-thirds (2/3) of the remaining Trustees, specifying the date when such removal shall become effective. Except to the extent expressly provided in a written agreement to which the Trust is a party or in a written policy adopted by the Trustees, no resigning, retiring or removed Trustee shall have any right to any compensation for any period following his resignation, retirement or removal, or any right to damages on account of such resignation, retirement or removal. Notwithstanding Director’s membership on the foregoingCompany Board of Directors shall not be terminated until the shortest amount of any of the following periods of time/events is fulfilled: (a) an amount of time specified in any other agreement or contract defining Director’s additional role(s) (b) until he dies, nothing resigns, is declared bankrupt or incompetent by a court of appropriate jurisdiction, or is removed by action of at least two-thirds (2/3) of the voting power of the Fund’s outstanding shares, or (ii) by the action of at least two-thirds (2/3) of the remaining Trustees, specifying the date when such removal shall become effective except as may be otherwise required by applicable law or any provision of the Trust’s Declaration of Trust or By-Laws, or, if sooner than any of such events, until the next meeting of Trust shareholders called for the purpose of electing Trustees and until the election and qualification of his successor. Director may voluntarily resign his position on the Board of Directors at any time and without penalty or liability of any kind, subject to providing a 30 day early resignation notice and that his compensation will be prorated until the date of his resignation . The death, resignation, retirement, removal or incapacity of one or more of the Trustees, or all of them, shall not operate to annul the Trust or to revoke any existing agency created pursuant to the terms of this Declaration. Whenever a vacancy in this paragraph the number of Trustees shall occur, until such vacancy is filled as provided herein, or the number of Trustees as fixed is reduced, the Trustees in office, regardless of their number, shall have all the powers granted to the Trustees, and during the period during which any such vacancy shall occur, only the Trustees then in office shall be deemed to prohibit counted for the purposes of the existence of a resigning, retiring or removed Trustee from being covered by insurance related to his actions as Trustee, quorum or any indemnification that action to be taken by such Trustee otherwise would be entitled to under Section 9.5 hereofTrustees.

Resignation, Retirement and Removal. Any Trustee may resign or retire as a Trustee by an instrument in writing signed by him and delivered or mailed to the Chair, if any, the president President or the secretarySecretary, and such resignation or retirement shall be effective upon such delivery, or at a later date according to the terms of the instrument. The Trustees may adopt policies Any Trustee who has attained a mandatory retirement age or term limit established pursuant to, or who is otherwise required to retire in accordance with, any written policy adopted from time to time relating by at least three-quarters (3/4) of the Trustees shall, automatically and without action of such Trustee or the remaining Trustees, be deemed to have retired in accordance with the terms of office and or retirement such policy, effective as of the Trustees. Any date determined in accordance with such policy; and any Trustee who has who has become incapacitated by illness or injury as determined by a majority of the other Trustees or declared incompetent by a court of appropriate jurisdiction, may be retired by written instrument signed by a majority of the other Trustees. Except as aforesaid, any Trustee may be removed from office only (i) by action of at least twothree-thirds quarters (2/33/4) of the voting power of the Outstanding Shares, except that removal of any Trustees elected or appointed with respect to a particular Class shall require approval by vote of three-quarters (3/4) of the Outstanding Shares of such Class, or (ii) by the action of at least twothree-thirds quarters (2/33/4) of the remaining Trustees, specifying the date when such removal shall become effective. Except to the extent expressly provided in a written agreement to which the Trust is a party or in a written policy adopted by the Trustees, no resigning, retiring or removed Trustee shall have any right to any compensation for any period following his resignation, retirement or removal, or any right to damages on account of such resignation, retirement or removal. Notwithstanding the foregoing, nothing in this paragraph shall be deemed to prohibit a resigning, retiring or removed Trustee from being covered by insurance related to his actions as Trustee, or any indemnification that such Trustee otherwise would be entitled to under Section 9.5 hereof.