Common use of Professional Insurance Clause in Contracts

Professional Insurance. Klondex G&S will maintain, or cause Klondex Mines to maintain, adequate Directors & Officers Liability Insurance to properly protect the Employee against loss. Klondex G&S and Klondex Mines will be directly responsible for all legal fees and other expenses for actions brought against the Employee provided that (i) the Employee had reasonable grounds for believing he acted honestly and in good faith with a view to the best interests of Klondex G&S and Affiliates and, (ii) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, he had reasonable grounds for believing that his conduct was lawful.