D&O Insurance Coverage Clause Samples
The D&O Insurance Coverage clause requires a company to obtain and maintain Directors and Officers (D&O) liability insurance for the benefit of its directors and officers. This insurance typically covers legal costs, settlements, or judgments arising from claims made against directors or officers for alleged wrongful acts in their capacity as company leaders. By mandating such coverage, the clause protects individuals from personal financial loss due to lawsuits related to their corporate roles, thereby encouraging qualified individuals to serve as directors or officers and mitigating personal risk.
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D&O Insurance Coverage. During and for a period three (3) years after the Term, the Executive shall be entitled to director and officer insurance coverage for his acts and omissions while an officer and director of the Company on a basis no less favorable to him than the coverage provided current officers or directors.
D&O Insurance Coverage. Executive will also be provided coverage under the Company's D&O policy as its President and CEO and, additionally be covered, for participation on certain outside company Boards as designated by the Company based on the Company's investments or other interests.
D&O Insurance Coverage. The Company shall use its best efforts to obtain and maintain, at the Company's cost and expense, directors' and officers' liability insurance coverage for the directors and officers of the Company, including the Executive. Nothing herein shall be deemed to require the Company to provide such coverage for the Executive if it is not then providing such coverage generally to its directors and officers.
D&O Insurance Coverage. Subject to the terms of Coda Octopus’ directors and officers liability insurance policy, during and for a period of a maximum of three years after termination, the Executive shall be entitled to director and officer insurance coverage for his acts and omissions while an officer and director of Coda Octopus on a basis no less favorable to him than the coverage provided current officers and directors.
D&O Insurance Coverage. The Company shall cover Executive in its standard D&O insurance policy, under the current limits and evidence in place and shall provide written evidence of such coverage upon request by the Executive; provided that the limits shall be no less than $10 million per defined loss, and $10 million in total coverage.
D&O Insurance Coverage. The Corporations shall use their best efforts to cause GST to obtain and maintain, at GST's cost and expense, directors' and officers' liability insurance coverage for the directors and officers of GST, including Executive. Nothing herein shall be deemed to require GST to provide such coverage for Executive if it is not then providing such coverage generally to its directors and officers.
D&O Insurance Coverage. The Company agrees to: (i) maintain a D&O insurance policy covering members of the Board of Directors (and their affiliated funds) and officers of the Company in a reasonable amount satisfactory to the Majority Investors and on terms consistent with the NVCA VentureInsure product; and (ii) ensure that any successor of the Company or acquirer of all or substantially all of the Company’s assets assumes the Company’s obligations with respect to indemnification of the members of the Board of Directors.
D&O Insurance Coverage. You will be entitled to director and officer insurance coverage in line with the Company’s D&O insurance policy terms and conditions for your acts and omissions while employed as an officer of the Company on a basis no less favorable to you than the coverage provided to all other similarly situated officers.
D&O Insurance Coverage. During and for a period of at least three years after the Term, the Director shall be entitled to director and officer insurance coverage for his acts and omissions while an officer and director of Coda Octopus on a basis no less favorable to him than the coverage provided current officers and directors.
D&O Insurance Coverage. During the Term and for a period of not less than six (6) years thereafter, the Company shall maintain in effect a directors and officers liability insurance policy that covers the Chairman with liability coverage that is not less than that currently maintained by the Company.