Common use of Directors’ and Officers’ Insurance and Indemnification Clause in Contracts

Directors’ and Officers’ Insurance and Indemnification. The Subsidiary shall provide directors and officers insurance covering the Employee for events occurring during the Employment Term on terms at least as favorable as coverage for Directors of the Company, and the Subsidiary shall provide indemnification to the Employee to the full extent allowed by the law of its jurisdiction of incorporation, such indemnification to continue as to the Employee even if the Employee ceases to be an officer, director, employee or agent of the Subsidiary or the Company, and shall inure to the benefit of the Employee's heirs, executors and administrators. The insurance and indemnification provided by the Subsidiary under this Section 9(b) shall apply to any indemnifiable or insurable acts or omissions of the Employee as an officer, director or employee of the Subsidiary or the Company or any of their respective subsidiaries or affiliates, and the obligations of the Subsidiary under this Section 9(b) shall continue during the Employment Term and, after the Employee ceases to be a director, officer, employee or agent of the Subsidiary or the Company, during any period which the Employee may be liable for acts or omissions as an officer, director or employee of the Subsidiary or the Company or their respective subsidiaries or affiliates.