Limitations on D & O Insurance. The Corporation shall have no obligation to maintain D & O Insurance if the Board determines in good faith, as a matter of reasonable business judgment, that such insurance is not reasonably available, the premium cost for such insurance is substantially disproportionate to the amount of coverage provided, or the coverage provided by such insurance is so limited by exclusions as to provide an insufficient benefit. The Corporation shall promptly inform Indemnitee in writing of such determination.
Appears in 3 contracts
Samples: Officer Indemnification Agreement (Idacorp Inc), Director Indemnification Agreement (Idacorp Inc), Director Indemnification Agreement (Idacorp Inc)
Limitations on D & O Insurance. The Corporation shall have no obligation to maintain D & O Insurance if the Board determines in good faith, as a matter of reasonable business judgment, ,that such insurance is not reasonably available, the premium cost for such insurance is substantially disproportionate to the amount of coverage provided, or the coverage provided by such insurance is so limited by exclusions as to provide an insufficient benefit. The Corporation shall promptly inform Indemnitee in writing of such determination.
Appears in 1 contract
