Director & Officer Insurance. At all times during the term of this Agreement the Company shall maintain in full force and effect a director and office insurance policy with a national insurance underwriter insuring Employee for his acts and ommissions in his capacity as an Officer and Director of the Company, with coverage under such policy of not less than ONE MILLION dollars ($1,000,000).
Director & Officer Insurance. The Company, at its expense, shall maintain director and officer insurance covering Executive at levels consistent with past practice with a reputable carrier. The Executive shall be entitled to indemnification, including advancement of expenses (if applicable), in accordance with and to the extent provided by the Company’s bylaws and articles of incorporation, and any separate indemnification agreement, if any.
Director & Officer Insurance. During the Initial Term and the Renewal Term, if any, Company shall maintain D&O Insurance which insurance shall cover and apply to Executive, with coverage limits, terms and conditions acceptable to Executive, in his sole discretion, with such approval not to be unreasonably withheld.
Director & Officer Insurance. Employee shall be covered under any policies of insurance provided by the Company for Directors and Officers of the Company, if applicable.
Director & Officer Insurance. The Director will be named as an insured on the director and officer liability insurance policy currently maintained by the Company or as may be maintained by the Company from time to time, which coverages shall be in an amount of no less than $5 million.
Director & Officer Insurance. (a) For a period of six (6) years from the Effective Time, each of the Purchaser, and after the Closing, the Company Entities, agrees that any amendment, repeal or modification to the Governing Documents of the Company Entities that adversely affects the rights thereunder of individuals who, at or prior to the Closing, were directors, managers, officers, employees or fiduciaries of any of the Company Entities (the “Protected Person”) shall not be enforceable against such Protected Person, unless such amendment or modification is required by Law.
Director & Officer Insurance. (a) The Purchaser agrees that all rights to indemnification or liability exculpation for acts or omissions occurring on or prior to the Closing Date based on provisions in the Company Parties’ Charter and Governing Documents existing as of the date of this Agreement (collectively, the “D&O Obligations”) shall survive for a period of six (6) years after the Closing. Subject to the foregoing, Purchaser may, from and after the Closing, cause the Company or any Subsidiary to merge, dissolve or reorganize.
Director & Officer Insurance. Subject to commercial availability, Parent will purchase a six (6) year run-off director and officer liability insurance policy, effective as of the Equity Closing, for the benefit of the directors and officers of the Company prior to the Equity Closing Date (the “D&O Tail Policy”). The D&O Tail Policy will provide substantially the same coverage and amounts and contain terms and conditions as the Company’s current directors and officers insurance policy and which are in the aggregate substantially no less advantageous with respect to claims arising from or related to acts or omissions prior to the Equity Closing Date by the directors and officers of the Company in their capacities as such.
Director & Officer Insurance. The Company will maintain directors’ and officers’ insurance in an amount deemed sufficient by the Board of Directors.
Director & Officer Insurance. Employer, at its expense, shall maintain director and officer insurance covering Employee with a reputable carrier.
