Common use of Indemnification of Legal Fees Clause in Contracts

Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, if it should appear to the Executive that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive the benefits intended to be provided to the Executive hereunder, the Company irrevocably authorizes the Executive from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense.

Appears in 9 contracts

Samples: Executive Employment Agreement (Caesars Entertainment, Inc.), Executive Employment Agreement (Caesars Entertainment, Inc.), Executive Employment Agreement (Caesars Entertainment, Inc.)

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Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, if it should appear to the Executive that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive the benefits intended to be provided to the Executive hereunder, the Company irrevocably authorizes the Executive from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following Following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense. Each reimbursement under this paragraph (c) shall be considered a separate payment and not one of a series of payments for purposes of Section 409A of the Code. In addition, no reimbursement or in-kind benefit shall be subject to liquidation or exchange for another benefit and the amount available for reimbursement, or in-kind benefits provided, during one calendar year in no event will affect the amount of expenses required to be reimbursed or in-kind benefits required to be provided by the Company in any other calendar year.

Appears in 5 contracts

Samples: Executive Employment Agreement (Eldorado Resorts, Inc.), Executive Employment Agreement (Eldorado Resorts, Inc.), Executive Employment Agreement (Eldorado Resorts, Inc.)

Indemnification of Legal Fees. Effective only upon a Change in Control, it It is the intent of the Company that in the Executive case of a Change in Control, the Employee not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in ControlEmployee hereunder. Accordingly, upon and following after a Change in Control, if it should appear to the Executive Employee that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive Employee the benefits intended to be provided to the Executive Employee hereunder, the Company irrevocably authorizes the Executive Employee from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive Employee in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, Company or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following a Change in Control, the The Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive Employee after a Change in Control and as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid. If the Employee is entitled to reimbursement pursuant to this Section 18.1, provided this Section shall apply to any such reimbursement of attorneys’ and related fees eligible costs and expenses shall incurred during the Employee’s lifetime. Subject to Section 19.2, any amounts the Company owes to the Employee pursuant to this Section 18.1 will be made not paid to the Employee by the Company within 30 days following the Company’s receipt of a statement or statements prepared by Employee or Employee’s legal counsel that sets forth the amount of such costs and expenses eligible for reimbursement but in no event will such amounts be paid later than December 31 of the year following the year in which Employee incurs such expenses. In no event will the Executive incurred costs and expenses paid by the expenseCompany pursuant to this Section 18.1 in one year affect the amount of costs and expenses the Company is obligated to pay pursuant to this Section 18.1 in any other taxable year.

Appears in 5 contracts

Samples: Severance Agreement (TimkenSteel Corp), Severance Agreement (TimkenSteel Corp), Severance Agreement (Timken Co)

Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, if it should appear to the Executive that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive the benefits intended to be provided to the Executive hereunder, the Company irrevocably authorizes the Executive from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense. Each reimbursement under this paragraph (c) shall be considered a separate payment and not one of a series of payments for purposes of Section 409A of the Code. In addition, no reimbursement or in-kind benefit shall be subject to liquidation or exchange for another benefit and the amount available for reimbursement, or in-kind benefits provided, during one calendar year in no event will affect the amount of expenses required to be reimbursed or in-kind benefits required to be provided by the Company in any other calendar year.

Appears in 5 contracts

Samples: Executive Employment Agreement (Eldorado Resorts, Inc.), Executive Employment Agreement (Eldorado Resorts, Inc.), Executive Employment Agreement (Eldorado Resorts, Inc.)

Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive not be required to incur the expenses associated with the enforcement of his her rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, if it should appear to the Executive that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive the benefits intended to be provided to the Executive hereunder, the Company irrevocably authorizes the Executive from time to time to retain counsel of his her choice, at the expense of the Company as hereafter provided, to represent the Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense.

Appears in 2 contracts

Samples: Executive Employment Agreement (Caesars Entertainment, Inc.), Executive Employment Agreement (Caesars Entertainment, Inc.)

Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive Employee not be required to incur the expenses associated with the enforcement of his or her rights upon and under this Agreement following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits and payments intended to be extended to the Executive Employee hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, Control if it should appear to the Executive Employee that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive Employee the benefits intended to be provided to the Executive Employee hereunder, the Company irrevocably authorizes the Executive Employee from time to time to retain counsel of his or her choice, at the expense of the Company as hereafter provided, to represent the Executive Employee in connection with the initiation or defense of any litigation or other legal actionaction with respect to this Agreement, whether by or against the Company, or any Subsidiary, Directordirector, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the ExecutiveEmployee’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive Employee agree that a confidential relationship shall exist between the Executive Employee and such counsel. Upon and following Following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive Employee as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense.

Appears in 2 contracts

Samples: Change in Control Agreement (ESAB Corp), Change in Control Agreement (ESAB Corp)

Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive Employee not be required to incur the expenses associated with the enforcement of his or her rights upon and under this Agreement following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits and payments intended to be extended to the Executive Employee hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, Control if it should appear to the Executive Employee that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive Employee the benefits intended to be provided to the Executive Employee hereunder, the Company irrevocably authorizes the Executive Employee from time to time to retain counsel of his or her choice, at the expense of the Company as hereafter provided, to represent the Executive Employee in connection with the initiation or defense of any litigation or other legal actionaction with respect to this Agreement, whether by or against the Company, or any Subsidiary, Directordirector, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the ExecutiveEmployee’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive Employee agree that a confidential relationship shall exist between the Executive Employee and such counsel. Upon and following Following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive Employee as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive Employee incurred the expense.

Appears in 2 contracts

Samples: Employment Agreement (DIEBOLD NIXDORF, Inc), Employment Agreement (Diebold Inc)

Indemnification of Legal Fees. Effective only upon a Change in Control, it It is the intent of the Company that the Executive not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in Controlhereunder. Accordingly, upon and following a Change in Control, if it should appear to the Executive that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive the benefits intended to be provided to the Executive hereunder, the Company irrevocably authorizes the Executive from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, Company or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following a Change in Control, the The Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense. In no event will the amount of expenses so reimbursed by the Company in one year affect the amount of expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year.

Appears in 2 contracts

Samples: Employment Agreement (Diebold Inc), Employment Agreement (Diebold Inc)

Indemnification of Legal Fees. Effective only upon a Change in Control, it It is the intent of the Company that in the Executive case of a Change in Control, the Employee not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in ControlEmployee hereunder. Accordingly, upon and following after a Change in Control, if it should appear to the Executive Employee that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive Employee the benefits intended to be provided to the Executive Employee hereunder, the Company irrevocably authorizes the Executive Employee from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive Employee in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, Company or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following a Change in Control, the The Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive Employee after a Change in Control and as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid. If the Employee is entitled to reimbursement pursuant to this Section 18.1, provided this Section shall apply to any such reimbursement of attorneys’ and related fees eligible costs and expenses shall incurred during the Employee’s lifetime. Subject to Section 19.2, any amounts the Company owes to the Employee pursuant to this Section 18.1 will be made not paid to the Employee by the Company within 30 days following the Company’s receipt of a statement or statements prepared by Employee or Employee’s legal counsel that sets forth the amount of such costs and expenses eligible for reimbursement but in no event will such amounts be paid later than December 31 of the year following the year in which Employee incurs such expenses. In no event will the Executive incurred costs and expenses paid by the expense.Company pursuant to this Section 18.1 in one year affect the amount of costs and expenses the Company is obligated to pay pursuant to this Section 18.1 in any other taxable year. NAI-1509265674v6

Appears in 2 contracts

Samples: Severance Agreement (TimkenSteel Corp), Severance Agreement (TimkenSteel Corp)

Indemnification of Legal Fees. Effective only upon a Change in Control, it It is the intent of the Company that the Executive Employee not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in ControlEmployee hereunder. Accordingly, upon and following a Change in Control, if it should appear to the Executive Employee that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive Employee the benefits intended to be provided to the Executive Employee hereunder, the Company irrevocably authorizes the Executive Employee from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive Employee in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, Company or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s Employee's entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive Employee agree that a confidential relationship shall exist between the Executive Employee and such counsel. Upon and following a Change in Control, the The Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys' and related fees and expenses incurred by the Executive Employee as a result of the Company’s 's failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense.

Appears in 1 contract

Samples: Severance Agreement (Timken Co)

Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, if it should appear to the Executive that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive the benefits intended to be provided to the Executive hereunder, the Company irrevocably authorizes the Executive from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company 10 irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense.

Appears in 1 contract

Samples: Executive Employment Agreement (Caesars Entertainment, Inc.)

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Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive not be required to incur the expenses associated with the enforcement of his rights upon and under this Amended Agreement following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, Control if it should appear to the Executive that the Company has failed to comply with any of its obligations under this Amended Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Amended Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive the benefits intended to be provided to the Executive hereunder, the Company irrevocably authorizes the Executive from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following Following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive as a result of the Company’s failure to perform this Amended Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Amended Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense.

Appears in 1 contract

Samples: Executive Employment Agreement (Diebold Inc)

Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, Control if it should appear to the Executive that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive the benefits intended to be provided to the Executive hereunder, the Company irrevocably authorizes the Executive from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following Following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense.

Appears in 1 contract

Samples: Executive Employment Agreement (Diebold Inc)

Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive Employee not be required to incur the expenses associated with the enforcement of his or her rights upon and under this Agreement following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits and payments intended to be extended to the Executive Employee hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, Control if it should appear to the Executive Employee that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive Employee the benefits intended to be provided to the Executive Employee hereunder, the Company irrevocably authorizes the Executive Employee from time to time to retain counsel of his or her choice, at the expense of the Company as hereafter provided, to 5 Provision may be one, one and a half or two, as applicable, for the level of employment. represent the Executive Employee in connection with the initiation or defense of any litigation or other legal actionaction with respect to this Agreement, whether by or against the Company, or any Subsidiary, Directordirector, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the ExecutiveEmployee’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive Employee agree that a confidential relationship shall exist between the Executive Employee and such counsel. Upon and following Following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive Employee as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense.

Appears in 1 contract

Samples: Change in Control Agreement (ESAB Corp)

Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive Employee not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive Employee hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, Control if it should appear to the Executive Employee that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive Employee the benefits intended to be provided to the Executive Employee hereunder, the Company irrevocably authorizes the Executive Employee from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive Employee in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the ExecutiveEmployee’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive Employee agree that a confidential relationship shall exist between the Executive Employee and such counsel. Upon and following Following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive Employee as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive Employee incurred the expense.

Appears in 1 contract

Samples: Employee Agreement (Diebold Inc)

Indemnification of Legal Fees. Effective only upon a Change in Control, it It is the intent of the Company that in the Executive case of a Change in Control, the Employee not be required to incur the expenses associated with the enforcement of his rights upon and following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Executive hereunder upon and following a Change in ControlEmployee hereunder. Accordingly, upon and following after a Change in Control, if it should appear to the Executive Employee that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive Employee the benefits intended to be provided to the Executive Employee hereunder, the Company irrevocably authorizes the Executive Employee from time to time to retain counsel of his choice, at the expense of the Company as hereafter provided, to represent the Executive Employee in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company, Company or any Subsidiary, Director, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the Executive’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive agree that a confidential relationship shall exist between the Executive and such counsel. Upon and following a Change in Control, the The Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive Employee after a Change in Control and as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid. If the Employee is entitled to reimbursement pursuant to this Section 19.1, provided this Section shall apply to any such reimbursement of attorneys’ and related fees eligible costs and expenses shall incurred during the Employee’s lifetime. Subject to Section 20.2, any amounts the Company owes to the Employee pursuant to this Section 19.1 will be made not paid to the Employee by the Company within 30 days following the Company’s receipt of a statement or statements prepared by Employee or Employee’s legal counsel that sets forth the amount of such costs and expenses eligible for reimbursement but in no event will such amounts be paid later than December 31 of the year following the year in which Employee incurs such expenses. In no event will the Executive incurred costs and expenses paid by the expenseCompany pursuant to this Section 19.1 in one year affect the amount of costs and expenses the Company is obligated to pay pursuant to this Section 19.1 in any other taxable year.

Appears in 1 contract

Samples: Severance Agreement (Timken Co)

Indemnification of Legal Fees. Effective only upon a Change in Control, it is the intent of the Company that the Executive Employee not be required to incur the expenses associated with the enforcement of his or her rights upon and under this Agreement following such a Change in Control under this Agreement by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits and payments intended to be extended to the Executive Employee hereunder upon and following a Change in Control. Accordingly, upon and following a Change in Control, Control if it should appear to the Executive Employee that the Company has failed to comply with any of its obligations under this Agreement which arose upon or following a Change in Control or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Executive Employee the benefits intended to be provided to the Executive Employee hereunder, the Company irrevocably authorizes the Executive Employee from time to time to retain counsel of his or her choice, at the expense of the Company as hereafter provided, to 5 Provision may be one, one and a half or two, as applicable, for the level of employment. 000-0000-0000/9/AMERICAS represent the Executive Employee in connection with the initiation or defense of any litigation or other legal actionaction with respect to this Agreement, whether by or against the Company, or any Subsidiary, Directordirector, officer, stockholder or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to the ExecutiveEmployee’s entering into an attorney-client relationship with such counsel, and in that connection the Company and the Executive Employee agree that a confidential relationship shall exist between the Executive Employee and such counsel. Upon and following Following a Change in Control, the Company shall pay or cause to be paid and shall be solely responsible for any and all reasonable attorneys’ and related fees and expenses incurred by the Executive Employee as a result of the Company’s failure to perform this Agreement or any provision hereof or as a result of the Company or any person contesting the validity or enforceability of this Agreement or any provision hereof as aforesaid, provided any such reimbursement of attorneys’ and related fees and expenses shall be made not later than December 31 of the year following the year in which the Executive incurred the expense.

Appears in 1 contract

Samples: Change in Control Agreement (Colfax CORP)

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