Common use of D&O Coverage Clause in Contracts

D&O Coverage. For so long as, and only for so long as, the Employer continues to maintain directors’ and officers’ liability insurance, the Employer shall maintain a policy covering the Employee in the amount of $5,000,000 in the aggregate, or such greater amount of coverage as may be provided by the Employer to directors and officers generally after the Effective Date. The Employer will also use commercially reasonable efforts to obtain coverage for Employee under any such policy for six (6) years after Employee ceases being an officer or director.

D&O Coverage. For so long as, and only for so long as, the Employer continues to maintain directors’ and officers’ liability insurance, the Employer shall use best efforts to maintain a policy covering the Employee in the amount of Five Million Dollars ($5,000,000 5,000,000) in the aggregate, or such greater amount of coverage as may be provided by the Employer to directors and officers generally after the Effective Date. The Employer will also use commercially reasonable best efforts to obtain coverage for Employee under any such policy for six (6) years after Employee ceases being an officer or director.

D&O Coverage. For so long as, and only for so long as, the Employer continues to maintain directors’ and officers’ liability insurance, the Employer shall maintain a policy covering the Employee in the amount of at least $5,000,000 in the aggregate, or such greater amount of coverage as may be provided by the Employer to directors and officers generally after the Effective Date. The Employer will also use commercially reasonable efforts to obtain coverage for Employee under any such policy for six (6) years after Employee ceases being an officer or director.