Common use of Termination of Service as a Director Clause in Contracts

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “1”. For example, if the Director serves only 36 months, he will be entitled to 36/60 or 60% of the compensation stated in paragraph “1”.

Termination of Service as a Director. If the Director, for any reason ------------------------------------- other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “"1”". For example, if the Director serves only 36 months, he will be entitled to 36/60 or 60% of the compensation stated in paragraph “"1”".

Termination of Service as a Director. If the Director, for any reason ------------------------------------- other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “"1”". For example, if the Director serves only 36 30 months, he will be entitled to 36/60 30/60 or 6050% of the compensation stated in paragraph “"1”" and "2".

Termination of Service as a Director. If the Director, for any reason other ------------------------------------- than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “"1”". For example, if the Director serves only 36 months, he will be entitled to 36/60 or 60% of the compensation stated in paragraph “"1”".

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five consecutive years yearn as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “1”. , For example, if the Director serves only 36 months, months he will be entitled to 36/60 or 60% of the compensation stated in paragraph “1”.

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five four consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 48 months times the compensation stated in paragraph “1”. For example, if the Director serves only 36 24 months, he will be entitled to 36/60 24/48 or 6050 % of the compensation stated in paragraph “1”.

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “1”. For example, if the Director serves only 36 30 months, he will be entitled to 36/60 30/60 or 6050% of the compensation stated in paragraph “1” and “2”.

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “1”. For example, if the Director serves only 36 months, he will be entitled to 36/60 or 6060 % of the compensation stated in paragraph “1l”.

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five four consecutive years and 5 months as a Director, he will receive monthly compensation beginning at age 65 71 on the basis that the number of full months served bears to the required number of 60 53 months times the compensation stated in paragraph “1”. For example, if the Director serves only 36 30 months, he will be entitled to 36/60 30/53 or 6056.6% of the compensation stated in paragraph “1” and “2”.

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “"1”. ." For example, if the Director serves only 36 months, he will be entitled to 36/60 or 60% of the compensation stated in paragraph “"1”."

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “1”. For example, if the Director serves only 36 60 months, he will be entitled to 36/60 or 60% of the compensation stated in paragraph “1”.

Termination of Service as a Director. If the Director, for any ------------------------------------ reason other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “"1”. ." For example, if the Director serves only 36 months, he will be entitled to 36/60 or 60% of the compensation stated in paragraph “"1”."

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “1”. For example, if the Director serves only 36 monthsmonth, he will be entitled to 36/60 or 60% of the compensation stated in paragraph “1”.

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “1”. For example, if the Director serves only 36 30 months, he will be entitled to 36/60 30/60 or 6050% of the compensation stated in paragraph “1”, “2” and “3”.

Termination of Service as a Director. If the Director, for any reason other than death, fails to serve five consecutive years as am a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “1”. For example, if the Director serves only 36 months, he will be entitled to 36/60 or 6060 % of the compensation stated in paragraph “12”.

Termination of Service as a Director. If the Director, for any reason ------------------------------------- other than death, fails to serve five consecutive years as a Director, he will receive monthly compensation beginning at age 65 on the basis that the number of full months served bears to the required number of 60 months times the compensation stated in paragraph “"1”". For example, if the Director serves only 36 30 months, he will be entitled to 36/60 30/60 or 6050% of the compensation stated in paragraph “"1”", "2" and "3".