Common use of Mutual Acknowledgement Clause in Contracts

Mutual Acknowledgement. Both the Company and the Director ---------------------- acknowledge that in certain instances, federal law or applicable public policy may prohibit the Company from indemnifying the Director under this Agreement or otherwise. For example, the Company and the Director acknowledge that the Securities and Exchange Commission (the "SEC") has taken the position that indemnification is not permissible for liabilities arising under certain federal securities laws, and federal legislation prohibits indemnification for certain ERISA violations. The Director understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the SEC to submit the question of indemnification to a court in certain circumstances for a determination of the Company's ability under public policy to indemnify the Director.

Mutual Acknowledgement. Both the Company and the Director Officer ---------------------- acknowledge that in certain instances, federal law or applicable public policy may prohibit the Company from indemnifying the Director Officer under this Agreement or otherwise. For example, the Company and the Director Officer acknowledge that the Securities and Exchange Commission (the "SEC") has taken the position that indemnification is not permissible for liabilities arising under certain federal securities laws, and federal legislation prohibits indemnification for certain ERISA violations. The Director Officer understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the SEC to submit the question of indemnification to a court in certain circumstances for a determination of the Company's ability under public policy to indemnify the DirectorOfficer.

Mutual Acknowledgement. Both the Company and the Director acknowledge ---------------------- acknowledge that in certain instances, federal law or applicable public policy may prohibit the Company from indemnifying the Director under this Agreement or otherwise. For example, the Company and the Director acknowledge that the Securities and Exchange Commission (the "SEC") has taken the position that indemnification is not permissible for liabilities arising under certain federal securities laws, and federal legislation prohibits indemnification for certain ERISA violations. The Director understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the SEC to submit the question of indemnification to a court in certain circumstances for a determination of the Company's ability under public policy to indemnify the Director.