Directors and Officers Liability Insurance Coverage. To the extent commercially reasonable to do so under prevailing conditions in the insurance market, Employer shall provide directors and officers liability insurance coverage for the protection of Employee on terms and conditions no less favorable to Employee than are in effect on the date that this Agreement shall become effective. Following any termination of Employee’s employment with Employer, such coverage shall be continued under substantially the same terms and conditions as are in effect immediately prior to such termination of employment at no cost to Employee until all applicable statutes of limitation expire with respect to claims arising prior to such termination of employment. Employee expressly acknowledges, however, that Employer cannot and shall not guarantee the performance of the insurance company issuing such directors and officers liability insurance coverage pursuant to this Section. In addition to the foregoing, Employer shall also continue to make indemnification and advancement of litigation expense payments to Employee to the maximum extent and for the maximum period permitted by law.
Directors and Officers Liability Insurance Coverage. To the extent commercially reasonable to do so under prevailing conditions in the insurance market, the Bank shall provide directors and officers liability insurance coverage for the protection of Employee on terms and conditions no less favorable to Employee than are in effect on the date that this Agreement shall become effective. Following any termination of Employee’s employment with the Bank, such coverage shall be continued under substantially the same terms and conditions as are in effect immediately prior to such termination of employment at no cost to Employee until all applicable statutes of limitation expire with respect to claims arising prior to such termination of employment. Employee expressly acknowledges, however, that the Bank cannot and shall not guarantee the performance of the insurance company issuing such directors and officers liability insurance coverage pursuant to this Section. In addition to the foregoing, the Bank shall also continue to make indemnification and advancement of litigation expense payments to Employee to the maximum extent and for the maximum period permitted by law; provided, however, that the obligation of the Bank to advance litigation expense payments shall be subject to Employee having executed and delivered to the Bank, in a form approved by the Bank, an undertaking to return such payments in the event that a court shall have determined that Employee is not entitled to indemnification under the applicable legal standards.
Directors and Officers Liability Insurance Coverage. Employer shall provide directors and officers liability insurance coverage for the protection of Employee on terms and conditions no less favorable to Employee than are in effect on the date that this Agreement shall become effective. Following any termination of Employee’s employment with Employer, such coverage shall be continued under substantially the same terms and conditions as are in effect immediately prior to such termination of employment at no cost to Employee until all applicable statutes of limitation expire with respect to claims arising prior to such termination of employment and shall also continue to make indemnification and advancement of litigation expense payments to Employee to the maximum extent and for the maximum period permitted by law.
Directors and Officers Liability Insurance Coverage. During the term of this Agreement the Company shall purchase and maintain one or more directors' and officers' liability insurance policies providing the Executive with such coverages subject to such limits as the Board may deem appropriate.
Directors and Officers Liability Insurance Coverage. Oxford Global and/or the Company agrees to maintain directors and officers liability insurance throughout the duration of the Employee’s employment with the Company, with such coverages as are commercially reasonable for similarly situated companies.
Directors and Officers Liability Insurance Coverage. 3. Vacation allowance of 3 weeks paid vacation annually for employment years 1, and 2 and 4 weeks paid vacation annually for employment years 3,4,5.
Directors and Officers Liability Insurance Coverage. It being the intent of the Company to provide maximum protection available under the law, the Company will maintain directors and officers liability insurance coverage (which shall include employment practices liability coverage) in a commercially reasonable amount, consistent with prior practice, to indemnify Executive from any claims made against him in his capacity as President and Chief Executive Officer and a Director, as applicable.
Directors and Officers Liability Insurance Coverage. The Company hereby represents and warrants to you that it has secured and has in place an effective D&O Policy in the amount of no less than $15,000,000, which by its terms and conditions will provide you with insurance coverage on the same basis as other officers of the Company are covered. Such coverage shall be maintained for you subsequent to the Term hereof for any and all of your Xxxxxxxx.xxx, Inc 000 Xxxxxx Xxxxxx Xxx Xxxx Xxx Xxxx 00000 activities performed while you were the Interim Chief Executive Officer. The Company will simultaneously notify (in proper form) the carrier of your selection as the new Interim Chief Executive Officer.
Directors and Officers Liability Insurance Coverage. The Company shall continue to cover Xxxx under its Director and Officers Insurance coverage at the same level of coverage as shall be provided, from time to time, to officers and directors of the Company, in accordance with, and subject to the limitations of such coverage, for a period of six (6) years beginning on the Separation Date. In the event of a covered claim, the Company shall pay any deductible that is required under such coverage.
Directors and Officers Liability Insurance Coverage. Union Bankshares shall maintain a "tail" directors' and officers' liability insurance policy covering persons who are currently covered by such insurance policies of Mid-Coast and Waldoboro for a period of four (4) years after the Effective Date on terms generally no less favorable than those in effect on the date of this Agreement; provided, however, that Union Bankshares may substitute therefore policies providing at least comparable coverage containing terms and conditions no less favorable than those in effect on the date of this Agreement; and provided further that the annual cost of such insurance shall not be greater than 125% the cost of such "tail" insurance to Mid-Coast and Waldoboro as of the Effective Date. In addition to and without limiting the foregoing, if the Effective Date shall be prior to May 11, 2000, Mid-Coast shall prepay the cost of such "tail" insurance for a one year period commencing on May 11, 2000.
