Common use of LIMITATIONS ON INDEMNIFICATION BY THE COMPANY STOCKHOLDERS Clause in Contracts

LIMITATIONS ON INDEMNIFICATION BY THE COMPANY STOCKHOLDERS. Notwithstanding the provisions of SECTION 12.1, the Company Stockholders shall not be obligated to indemnify Parent Indemnified Parties except to the extent the cumulative amount of Losses to such Parent Indemnifiable Parties exceeds Ten Thousand Dollars ($10,000) (the "Parent threshold") whereupon the full amount of such Losses shall be recoverable in accordance with the terms hereof.

Appears in 3 contracts

Samples: Employment Agreement (Bizness Online Com), Employment Agreement (Bizness Online Com), Employment Agreement (Bizness Online Com)

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LIMITATIONS ON INDEMNIFICATION BY THE COMPANY STOCKHOLDERS. Notwithstanding the provisions of SECTION 12.1, the The Company Stockholders shall not be obligated to indemnify Parent Indemnified Parties except to the extent the cumulative amount of Losses to such Parent Indemnifiable Parties exceeds Ten Five Thousand Dollars ($10,0005,000) (the "Parent threshold") whereupon the full amount of such Losses shall be recoverable in accordance with the terms hereof.

Appears in 1 contract

Samples: Employment Agreement (Bizness Online Com)

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