Common use of Directors Emeritus Clause in Contracts

Directors Emeritus. GBB shall assume the obligations of BAB ------------------ under the three Director Emeritus agreements in effect on the date of this Agreement, plus a Director Emeritus agreement (similar to the currently effective Director Emeritus agreements) with ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ that BAB may enter into between the date of this Agreement and the Closing Date providing for a five year term and monthly payments over such term in the amount of $1,550.