Maintenance of Liability Insurance. So long as Employee shall serve as an executive officer of the Company pursuant to this Employee Agreement, the Company shall obtain and maintain in full force and effect a policy of director and officer liability insurance of at least $3M from an established and reputable insurer. In all policies of such insurance, Employee shall be named as an insured in such manner as to provide Employee the same rights and benefits as are accorded to the most favorably insured of the Company’s officers or directors.
Appears in 10 contracts
Samples: Employee Agreement (SMTP, Inc.), Employee Agreement (SMTP, Inc.), Employee Agreement (Universal Capital Management, Inc.)
Maintenance of Liability Insurance. So long as Employee shall serve as an executive officer of the Company pursuant to this Employee Agreement, the Company shall obtain and maintain in full force and effect a policy of director director’s and officer officer’s liability insurance of at least $3M in reasonable amounts from an established and reputable insurer. In all policies of such insurance, Employee shall be named as an insured in such manner as to provide Employee the same rights and benefits as are accorded to the most favorably insured of the Company’s officers or directors.
Appears in 8 contracts
Samples: Employee Agreement (Lightwave Logic, Inc.), Employee Agreement (Lightwave Logic, Inc.), Employee Agreement (Lightwave Logic, Inc.)
Maintenance of Liability Insurance. So long as Employee the Executive shall serve as an executive officer of the Company pursuant to this Employee Agreement, the Company shall obtain and maintain in full force and effect a policy of director and officer liability insurance of at least $3M from an established and reputable insurer. In all policies of such insurance, Employee the Executive shall be named as an insured in such manner as to provide Employee the Executive the same rights and benefits as are accorded to the most favorably insured of the Company’s executive officers or directors.
Appears in 2 contracts
Samples: Employment Agreement (NanoFlex Power Corp), Employment Agreement (NanoFlex Power Corp)
Maintenance of Liability Insurance. So long as Employee shall serve as an executive officer of the Company pursuant to this Employee Agreement, the Company shall obtain and maintain in full force and effect a policy of director director’s and officer officer’s liability insurance of at least $3M in reasonable amounts from an established and reputable insurer. In all policies of such insurance, Employee shall be named as an insured in such manner as to provide Employee the same rights and benefits as are accorded to the most favorably insured of the Company’s officers or directors.
Appears in 2 contracts
Samples: Employee Agreement, Employee Agreement (Lightwave Logic, Inc.)
Maintenance of Liability Insurance. So long as Employee the Executive shall serve as an executive officer of the Company pursuant to this Employee Agreement, the Company shall obtain and maintain in full force and effect a policy of director and officer liability insurance of at least $3M $ 3 million from an established and reputable insurer. In all policies of such insuranceinstance, Employee the Company shall cause the Executive to be named as an insured in such a manner as to provide Employee the Executive the same rights and benefits as are accorded to the most favorably insured of the Company’s executive officers or directors.
Appears in 1 contract
