Common use of Allowance for Compliance with SEC Requirements Clause in Contracts

Allowance for Compliance with SEC Requirements. Executive acknowledges that the Securities and Exchange Commission ("SEC") has expressed the opinion that indemnification of directors and officers from liabilities under the Securities Act of 1933 (the "Act") is against public policy and therefore unenforceable. Executive hereby agrees that it will not be a breach of this Agreement for Netzee to agree with the SEC in connection with the registration for sale of any stock or other securities of Netzee from time to time that, in the event a claim for indemnification against such liabilities (other than the payment by Netzee of expenses incurred or paid by a director or officer of Netzee in the successful defense of any action, suit or proceeding) is asserted in connection with such stock or other securities being registered, Netzee will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of competent jurisdiction the question of whether or not such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. Executive further agrees that such submission to a court of competent jurisdiction shall not be a breach of this Agreement.

Allowance for Compliance with SEC Requirements. Executive Director acknowledges that the Securities and Exchange Commission ("SEC") has expressed the opinion that indemnification of directors and officers from liabilities under the Securities Act of 1933 (the "Act") is against public policy and therefore as expressed in the Act and, is therefore, unenforceable. Executive Director hereby agrees that it will not be a breach of this Agreement for Netzee Corporation to agree undertake with the SEC Commission in connection with the registration for sale of any stock or other securities of Netzee Corporation from time to time that, in the event a claim for indemnification against such liabilities (other than the payment by Netzee Corporation of expenses incurred or paid by a director or officer of Netzee Corporation in the successful defense of any action, suit or proceeding) is asserted in connection with such stock or other securities being registered, Netzee Corporation will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of competent jurisdiction on the question questions of whether or not such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. Executive Director further agrees that such submission to a court of competent jurisdiction shall not be a breach of this Agreement.

Allowance for Compliance with SEC Requirements. Executive Director acknowledges that the Securities and Exchange Commission ("SEC") has expressed the opinion that indemnification of directors and officers from liabilities under the Securities Act of 1933 (the "Act") is against public policy and therefore unenforceable. Executive Director hereby agrees that it will not be a breach of this Agreement for Netzee STT to agree with the SEC in connection with the registration for sale of any stock or other securities of Netzee STT from time to time that, in the event a claim for indemnification against such liabilities (other than the payment by Netzee STT of expenses incurred or paid by a director or officer of Netzee STT in the successful defense of any action, suit or proceeding) is asserted in connection with such stock or other securities being registered, Netzee STT will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of competent jurisdiction the question of whether or not such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. Executive Director further agrees that such submission to a court of competent jurisdiction shall not be a breach of this Agreement.

Allowance for Compliance with SEC Requirements. Executive Director acknowledges that the Securities and Exchange Commission ("SEC") has expressed the opinion that indemnification of directors and officers from liabilities under the Securities Act of 1933 (the "Act") is against public policy and therefore unenforceable. Executive Director hereby agrees that it will not be a breach of this Agreement for Netzee JMAR to agree with the SEC in connection with the registration for sale of any stock or other securities of Netzee JMAR from time to time that, in the event a claim for indemnification against such liabilities (other than the payment by Netzee JMAR of expenses incurred or paid by a director or officer of Netzee JMAR in the successful defense of any action, suit or proceeding) is asserted in connection with such stock or other securities being registered, Netzee JMAR will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of competent jurisdiction the question of whether or not such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. Executive Director further agrees that such submission to a court of competent jurisdiction shall not be a breach of this Agreement.

Allowance for Compliance with SEC Requirements. Executive acknowledges that the Securities and Exchange Commission ("SEC") has expressed the opinion that indemnification of directors and officers from liabilities under the Securities Act of 1933 (the "Act") is against public policy and therefore unenforceable. Executive hereby agrees that it will not be a breach of this Agreement for Netzee JMAR to agree with the SEC in connection with the registration for sale of any stock or other securities of Netzee JMAR from time to time that, in the event a claim for indemnification against such liabilities (other than the payment by Netzee JMAR of expenses incurred or paid by a director or officer of Netzee JMAR in the successful defense of any action, suit or proceeding) is asserted in connection with such stock or other securities being registered, Netzee JMAR will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of competent jurisdiction the question of whether or not such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. Executive further agrees that such submission to a court of competent jurisdiction shall not be a breach of this Agreement.