Duration of Indemnity. This indemnity in this Section 5 shall continue until and terminate upon the later of: (a) ten years after the Director has ceased to occupy any of the positions or have any relationships described in Section 5 of this Agreement, and (b) the final termination of all pending or threatened actions, suits, proceedings or investigations to which the Director may be subject by reason of the fact that he is or was a director, officer, employee or agent of the Company or is or was serving at the request of the Company as a director, officer, employee or agent of any other entity, including, but not limited to, another corporation, partnership, joint venture or trust, or by reason of any act or omission by him in any such capacity. The indemnification provided under this Agreement shall continue as to the Director even though he may have ceased to be a director, officer, employee or agent of the Company. This Agreement shall be binding upon the Company and its successors and assigns and shall inure to the benefit of the Director and his spouse, successors, assigns, heirs, devisees, executors, administrators or other legal representatives.
Appears in 10 contracts
Samples: Director Appointment Agreement (Resaca Exploitation, Inc.), Director Appointment Agreement (Resaca Exploitation, Inc.), Director Appointment Agreement (Resaca Exploitation, Inc.)
