Common use of Service by Indemnitee Clause in Contracts

Service by Indemnitee. Indemnitee agrees to serve as director of the Indemnitors and/or executive officer of the Indemnitors if so designated by the Indemnitors and appointed by the respective Boards of Directors, and agrees to the indemnification provisions provided for herein. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or other obligation imposed by operation of law), in which event the Indemnitors shall have no obligation under this Agreement to continue Indemnitee in any such position.

Appears in 7 contracts

Samples: Indemnification Agreement (Motors & Gears Inc), Indemnification Agreement (Motors & Gears Inc), Indemnification Agreement (Motors & Gears Inc)

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Service by Indemnitee. Indemnitee agrees to serve as director of the Indemnitors and/or executive officer of the Indemnitors if so designated by the Indemnitors and appointed by the respective Boards of Directors, Indemnitor and agrees to the indemnification provisions provided for herein. Indemnitee may at any time and for any reason resign or be terminated from such position (subject to any other contractual obligation or other obligation imposed by operation of law), in which event the Indemnitors Indemnitor shall have no obligation under this Agreement to continue Indemnitee in any such position.

Appears in 1 contract

Samples: Directors Indemnification Agreement (Jackson Products Inc)

Service by Indemnitee. Indemnitee agrees to serve as a director of each of the Indemnitors Companies and/or an executive officer of each of the Indemnitors Companies if so designated by the Indemnitors and appointed by the respective Boards its Board of Directors, and agrees to the indemnification provisions provided for herein. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or other obligation imposed by operation of law), in which event neither of the Indemnitors Companies shall have no any obligation under this Agreement to continue the employment of Indemnitee in any such position.

Appears in 1 contract

Samples: Indemnification Agreement (Gfsi Inc)

Service by Indemnitee. Indemnitee agrees to serve as director of the Indemnitors and/or executive officer of the Indemnitors a Board Member or Officer, as applicable, if so designated by the Indemnitors Company and appointed by the respective Boards Board of Directors, and agrees to the indemnification provisions provided for herein. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or other obligation imposed by operation of law), in which event the Indemnitors Company shall have no obligation under this Agreement to continue Indemnitee in any such position.

Appears in 1 contract

Samples: Form of Indemnification Agreement (Morningstar, Inc.)

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Service by Indemnitee. Indemnitee agrees to serve as director of the Indemnitors Indemnitor and/or executive officer of the Indemnitors Indemnitor if so designated by the Indemnitors Indemnitor and appointed by the respective Boards of Directors, and agrees to the indemnification provisions provided for herein. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or other obligation imposed by operation of law), in which event the Indemnitors Indemnitor shall have no obligation under this Agreement to continue Indemnitee in any such position.

Appears in 1 contract

Samples: Indemnification Agreement (Jordan Industries Inc)

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