Common use of Appeal Right Clause in Contracts

Appeal Right. Indemnitee and the Company shall each have the right to appeal any decision of the Disinterested Directors, the Board or Independent Counsel to the New York Court, or, at Indemnitee’s or Company’s sole option, to an arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Any such adjudication or arbitration shall be conducted in all respects as a de novo trial or arbitration on the merits. In any such adjudication or arbitration the presumptions and burdens set forth in Section 9 shall apply.