Common use of Indemnification; D&O Coverage Clause in Contracts

Indemnification; D&O Coverage. At all times, during the Employment Period, (i) Executive shall be eligible for indemnification (including the advancement of attorneys’ fees) pursuant to the Company’s bylaws to the fullest extent of the law, and (ii) Executive shall be covered by Company’s directors’ and officers’ insurance policy (the “D&O Insurance Policy”) with Side A and Side B limits not less than in effect on the Effective Date, if available on commercially reasonable terms.

Appears in 3 contracts

Samples: Employment Agreement (Lordstown Motors Corp.), Employment Agreement (Lordstown Motors Corp.), Employment Agreement (Lordstown Motors Corp.)

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Indemnification; D&O Coverage. At all times, during the Employment Period, (i) Executive shall be eligible for indemnification (including the advancement of attorneys’ fees) pursuant to the Company’s bylaws to the fullest extent of the law, and (ii) Executive shall be covered by Company’s directors’ and officers’ insurance policy (the “D&O Insurance Policy”) with Side A and Side B limits not less than in effect on the Effective Date, if available on commercially reasonable terms.

Appears in 1 contract

Samples: Employment Agreement (Lordstown Motors Corp.)

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