Common use of Termination of Directorship Clause in Contracts

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, prior to two years from the ---- execution date of the Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, at the end of two years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- 2 40% 3 60% 4 80% 5 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, prior to two years from the ---- execution date of the Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 eight percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, at the end of two years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- 2 40% 3 60% 4 80% 5 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, prior to two years from the ---- execution date of the Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, at the end of two years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- 2 40% 3 60% 4 80% 5 100%----------------------------

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th 67th birthday, prior to two years from the ---- execution date of the this Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th 67th birthday, at the end of two or more years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th 67th birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF PERCENTAGE OF RETIREMENT EXECUTION OF THIS AGREEMENT BENEFITS STATED IN SECTION EXECUTION 1 UNTIL TERMINATION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- ------------ ------------------------ 2 20% 3 40% 3 4 60% 4 5 80% 5 6 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th 70th birthday, prior to two years from the ---- ------ execution date of the this Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th 70th birthday, at the end of two or more years or ---- more ------ from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th 70th birthday, or ---- ------ his prior death, to a percentage of the retirement benefits stated in Section 1 of or this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH THE UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- --------------------------------- -------------------------------- 2 40% 3 60% 4 80% 5 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th 71st birthday, prior to two years from the ---- execution date of the this Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th 71st birthday, at the end of two or more years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th 71st birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF PERCENTAGE OF RETIREMENT EXECUTION OF THIS AGREEMENT BENEFITS STATED IN SECTION EXECUTION 1 UNTIL TERMINATION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- ------------ ------------------------ 2 20% 3 40% 3 4 60% 4 5 80% 5 6 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, prior to two years from ---- the ---- execution date of the Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, at the end of two ---- years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th birthday, or ---- his prior death, to a percentage of the ---- retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- 2 40% 3 60% 4 80% 5 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th 69th birthday, prior to two years from the ---- execution date of the this Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th 69th birthday, at the end of two or more years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th 69th birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF PERCENTAGE OF RETIREMENT EXECUTION OF THIS AGREEMENT BENEFITS STATED IN SECTION EXECUTION 1 UNTIL TERMINATION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- ------------ ------------------------ 2 20% 3 40% 3 4 60% 4 5 80% 5 6 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, prior to two years ---- from the ---- execution date of the Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 eight percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, at the end of two ---- years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th birthday, or ---- his prior death, to a percentage of the ---- retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- 2 40% 3 60% 4 80% 5 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, prior to two years from the ---- execution date of the this Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, at the end of two or more years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- --------------------------------- ------------------------ 2 40% 3 60% 4 80% 5 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th 70th birthday, prior to two years from the ---- ------ execution date of the this Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th 70th birthday, at the end of two or more years or ---- more ------ from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th 70th birthday, or ---- ------ his prior death, to a percentage of the retirement benefits stated in Section 1 of or this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH THE UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- --------------------------------- -------------------------------- 2 40% 3 60% 4 80% 5 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, prior to two years from the ---- execution date of the Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 eight percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, at the end of two years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM FORM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- 2 40% 3 60% 4 80% 5 100%

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, prior to two years from the ---- execution date of the Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 eight percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, at the end of two years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- 2 40% 3 60% 4 80% 5 100%----------------------------

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, prior to two years from the ---- execution date of the this Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, at the end of two or more years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- ----------------------------- 2 40% 3 60% 4 80% 5 100%