Common use of Continued Service As A Director Clause in Contracts

Continued Service As A Director. ▇▇▇▇▇▇ and the Company acknowledge that ▇▇▇▇▇▇ is currently serving as a director of the Company with a term expiring in 2005. ▇▇▇▇▇▇ shall continue to serve as a director of the Company for the remainder of such term in accordance with the Bylaws of the Company; provided, that during the term of this Agreement, ▇▇▇▇▇▇ shall not be entitled to receive any compensation for his services as a director, either in the form of an annual retainer, meeting fees or otherwise. Notwithstanding the foregoing, if ▇▇▇▇▇▇ continues to serve as a director following the termination of this Agreement, then ▇▇▇▇▇▇ shall be entitled to receive the same compensation and benefits afforded to other non-employee directors of the Company for his services as a director from and after the termination of this Agreement.

Appears in 1 contract

Sources: Consulting Agreement (Coca Cola Bottling Co Consolidated /De/)

Continued Service As A Director. ▇▇▇▇▇▇ and the Company acknowledge that ▇▇▇▇▇▇ is currently serving as a director of the Company with a term expiring in 20052002. ▇▇▇▇▇▇ shall continue to serve as a director of the Company for the remainder of such term in accordance with the Bylaws of the Company; provided, however, that during the term of this Agreement, ▇▇▇▇▇▇ shall not be entitled to receive any compensation for his services as a director, either in the form of an annual retainer, retainer or meeting fees or otherwisefees. Notwithstanding the foregoing, if ▇▇▇▇▇▇ continues to serve as a director following the termination of this Agreement, then ▇▇▇▇▇▇ shall be entitled to receive the same compensation and benefits afforded accorded to other non-employee nonemployee directors of the Company for his services as a director from and after the termination of this Agreement.

Appears in 1 contract

Sources: Retirement and Consulting Agreement (Coca Cola Bottling Co Consolidated /De/)