Improper Personal Benefit Clause Samples
The Improper Personal Benefit clause prohibits individuals involved with an organization, such as directors or officers, from receiving personal gains or advantages that are not authorized or are contrary to the organization's interests. In practice, this clause applies to situations where someone might use their position to secure financial benefits, gifts, or other perks for themselves or related parties, outside of what is permitted by company policy or law. Its core function is to prevent conflicts of interest and ensure that decisions are made in the best interest of the organization, thereby promoting ethical conduct and protecting the organization from potential legal or reputational harm.
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Improper Personal Benefit. To indemnify Indemnitee against liability for any transactions from which Indemnitee, or any Affiliate of Indemnitee, derived an improper personal benefit, including, but not limited to, self-dealing or usurpation of a corporate opportunity.
Improper Personal Benefit. To indemnify the Indemnitee on account ------------------------- of Indemnitee's conduct from which Indemnitee derived an improper personal benefit; or
Improper Personal Benefit. In respect of any claim, issue, or matter as to which a Trustee, officer or employee of CalTRUST shall have been adjudged to be liable on the basis that personal benefit was improperly received by him or her, whether or not the benefit resulted from an action taken in such person’s official capacity.
Improper Personal Benefit. If it is proved by final judgment in a court of law or other final adjudication to have been based upon or attributable to Indemnitee's having gained any personal profit or advantage to which he was not legally entitled;
Improper Personal Benefit. With respect to any proceeding charging improper personal benefit to the Indemnitee, whether or not involving action in the Indemnitee's official capacity, in which the Indemnitee was adjudged to be liable on the basis that personal benefit was improperly received.
Improper Personal Benefit. In respect of any claim, issue, or matter as to which a representative of a Member or Participant, an officer or employee of CCA, shall have been adjudged to be liable on the basis that personal benefit was improperly received by him or her, whether or not the benefit resulted from an action taken in such person’s official capacity.
Improper Personal Benefit shall include, but not be limited to, the personal gain in fact by reason of a person's Corporate Status of a financial profit, monies or other advantage not also accruing to the benefit of the Company or to the stockholders generally and which is unrelated to his usual compensation including, but not limited to, (i) in exchange for the exercise of influence over the Company's affairs, (ii) as a result of the diversion of corporate opportunity, or (iii) pursuant to the use or communication of confidential or inside information for the purpose of generating a profit from trading in the Company's securities. Notwithstanding the foregoing, "Improper Personal Benefit" shall not include any benefit, directly or indirectly, related to actions taken in order to evaluate, discourage, resist, prevent or negotiate any transaction with or proposal from any person or entity seeking control of, or a controlling interest in, the Company.
Improper Personal Benefit. For any Proceeding arising from a transaction in which the Indemnitee derived an improper personal benefit;