Director and Officer Insurance; Indemnification. The Company shall indemnify the Executive to the same extent as it indemnifies its other Named Executive Officers, and the Company shall provide coverage for the Executive under its policies of Director’s and Officer’s insurance as the same may be in effect from time to time.
Director and Officer Insurance; Indemnification. Nabors Bermuda and Nabors Delaware agree to continue and maintain a directors and officers’ liability insurance policy covering Executive to the extent Nabors Bermuda and Nabors Delaware provide such coverage for their other executive officers. On the Effective Date, Executive, Nabors Bermuda and Nabors Delaware will enter into an indemnification agreement in the form customarily used by the Company.
Director and Officer Insurance; Indemnification. The Company will maintain in full force and effect director and officer liability insurance covering the directors and officers of the Company with terms, conditions, retentions and limits of liability that are no less favorable than the coverage provided under the Company’s policies existing immediately prior to the date of this Agreement. The Company’s Organizational Documents will authorize, and to the extent permissible, require, the Company to indemnify its directors and officers to the fullest extent permitted by law.
Director and Officer Insurance; Indemnification a. Prior to the Effective Time, the Company shall, at its own expense, purchase an extended reporting period endorsement under the Company’s existing directors’ and officers’ liability insurance coverage in a form reasonably acceptable to Parent that shall provide the current and former members of the Company Board and the Company’s officers (collectively, the “Indemnified D&Os”) with coverage for six (6) years following the Effective Time of not less than the existing coverage and have other terms not materially less favorable to the insured persons than the Company’s directors’ and officers’ liability insurance coverage presently maintained by the Company.
b. The Surviving Corporation will not knowingly take any action to alter or impair any indemnification provisions now existing in the Certificate of Incorporation or Bylaws for the benefit of any Indemnified D&Os; provided, however, that no individual who served as a director or officer of the Company at any time prior to the Effective Time shall be entitled to indemnification from the Surviving Corporation for any matter which any Indemnitee (as hereinafter defined) is entitled to indemnification pursuant to Article VII.
Director and Officer Insurance; Indemnification. (a) As long as the holders of any Series E Preferred Securities have a designee on the Board of Directors of the Corporation, the Corporation shall maintain directors’ and officers’ liability insurance providing coverage in such amounts and on such terms as is customary for a publicly traded company of similar size to the Corporation. Such insurance shall include coverage for all directors of the Corporation, including any director designated by the Purchasers. The Purchasers hereby acknowledge and agree that the Corporation’s directors’ and officers’ liability insurance policy in effect as of the Initial Closing Date, a copy of which has been furnished to the Purchasers, complies with this Section 8.7(a) as of the date hereof; provided that upon the reasonable request of the Purchasers from time to time, to modify or increase the coverage of the Corporation’s directors’ and officers’ liability insurance policy that is then in effect in light of the circumstances existing at such time, then the Corporation shall make such modifications or increase to such directors’ and officers’ liability insurance policy (or, if applicable, purchase an additional directors’ and officers’ liability insurance policy) as may be required, if at all, to comply with this Section 8.7(a).
Director and Officer Insurance; Indemnification. The Company shall obtain, as soon as reasonably practicable, and maintain from responsible and reputable insurance companies or associations, Director and Officer insurance upon terms reasonably satisfactory to the Board of Directors. In the event that the Company or any of its successors or assigns (i) consolidates with or merges into any other entity and shall not be the continuing or surviving corporation or entity of such consolidation or merger or (ii) transfers or conveys all or substantially all of its properties and assets to any person or entity, then, and in each such case, to the extent necessary, proper provision shall be made so that the successors and assigns of the Company assume the obligations of the Company with respect to indemnification of members of the Board of Directors as in effect immediately prior to such transaction, whether in the Company's bylaws, Company's certificate of incorporation, or elsewhere, as the case may be, and to continue such indemnification for a period of at least six (6) years following the closing of any such merger or sale.
Director and Officer Insurance; Indemnification. The Company shall obtain, within thirty (30) days of the date of this Agreement, reasonable director and officers’ insurance covering Executive’s tenure. The Company shall indemnify and hold Executive harmless, pursuant to he terms of a written Indemnification Agreement from any and all actions, suits and losses that arise from his employment by, or services on behalf of, the Company.
Director and Officer Insurance; Indemnification. (a) As long as the holders of any Series D Preferred Securities have a designee on the Board of Directors of the Corporation, the Corporation shall maintain directors’ and officers’ liability insurance providing coverage in such amounts and on such terms as is customary for a publicly traded company of similar size to the Corporation. Such insurance shall include coverage for all directors of the Corporation, including any director designated by the Purchasers. The Purchasers hereby acknowledge and agree that the Corporation’s directors’ and officers’ liability insurance policy in effect as of the Initial Closing Date, a copy of which has been furnished to the Purchasers, complies with this Section 8.7(a) as of the date hereof; provided that upon the reasonable request of the Purchasers from time to time, to modify or increase the coverage of the Corporation’s directors’ and officers’ liability insurance policy that is then in effect in light of the circumstances existing at such time, then the Corporation shall make such modifications or increase to such directors’ and officers’ liability insurance policy (or, if applicable, purchase an additional directors’ and officers’ liability insurance policy) as may be required, if at all, to comply with this Section 8.7(a).
(b) Upon or prior to the election of the BREDS Director to the Board of Directors of the Corporation pursuant to the Series D Preferred Articles Supplementary and Governance Agreement, the Company shall deliver to BREDS (i) an Indemnification Agreement between the Corporation and the BREDS Director, in substantially the form attached hereto as Exhibit F and duly executed by an authorized officer of the Corporation and (ii) written evidence of an effective directors and officers liability insurance policy meeting the requirements of Section 8.7(a).
Director and Officer Insurance; Indemnification. The Company shall maintain Directors and Officers Liability Insurance (the “D&O Policy”) for Executive to cover claims, losses, costs and expenses, including but not limited to damages and defense costs, for alleged wrongful acts or omissions by the Executive in her capacity as an officer of the Company or in connection with her employment with the Company. The Company also agrees to defend, indemnify, and hold harmless the Executive from and against all claims, losses, costs and expenses, including attorney’s fees, and agrees to pay for any out-of-pocket costs or damages that are not covered by the D&O Policy arising out of alleged wrongful acts or omissions by the Executive in her capacity as an officer of the Company or in connection with her employment with the Company.
Director and Officer Insurance; Indemnification. ITS shall procure and maintain in force during the Term of this Agreement and any subsequent terms Director and Officer liability insurance in such amount or amounts as ITS may determine, which insurance shall include coverage of the office of the President/COO. ITS shall indemnify Xxxxx to the extent authorized by the provisions of the Iowa Business Corporation Act.
