Common use of No Presumption Regarding Standard of Conduct Clause in Contracts

No Presumption Regarding Standard of Conduct. Neither the failure of Employer (including its Board of Directors, independent legal counsel or stockholders) to have made a determination prior to the commencement of any proceeding concerning payment of amounts claimed by Employee under the preceding subsection 22.1 of this Section 22 that indemnification of Employee is proper because he has met the applicable standard of conduct, nor a determination by Employer (including its Board of Directors, independent legal counsel or stockholders) that Employee has not met such applicable standers of conduct, shall create a presumption the Employer has not met the applicable standard of conduct.

No Presumption Regarding Standard of Conduct. Neither the failure of Employer (including its Board of Directors, independent legal counsel or stockholders) to have made a determination prior to the commencement of any proceeding concerning payment of amounts claimed by Employee under the preceding subsection 22.1 21.1 of this Section 22 21 that indemnification of Employee is proper because he has met the applicable standard of conduct, nor a determination by Employer (including its Board of Directors, independent legal counsel or stockholders) that Employee has not met such applicable standers of conduct, shall create a presumption the Employer has not met the applicable standard of conduct.