Description of Indemnification Rights for Directors, Officers, and Employees of Marvell Technology Group Ltd. and Marvell Semiconductor, Inc.
Marvell Technology Group Ltd. has agreed to cover reasonable legal costs and expenses for certain current and former directors, officers, and employees of the company and its subsidiary, Marvell Semiconductor, Inc., related to civil actions and government investigations about past stock option granting practices. This coverage is conditional: if it is later determined that an individual is not entitled to indemnification under the company's bye-laws or applicable law, that individual must reimburse the company for the costs paid.
Exhibit 10.37
Description of Indemnification Rights
The Company has agreed to indemnify certain current and former directors, officers and employees of the Company and its subsidiary Marvell Semiconductor, Inc. for reasonable costs and expenses incurred by such individuals in connection with certain civil actions and governmental investigations relating to the Company’s past stock option granting practices. The Company’s agreement to pay reasonable fees and costs is subject to each individual’s agreement to reimburse the Company in the event that it is subsequently determined that the individual is not entitled to indemnification under the Company’s bye-laws or applicable law.
