Mutual Acknowledgement. Both the Company and Indemnitee acknowledge that in certain instances, Federal law or
applicable public policy may
override applicable state law and prohibit the Company from indemnifying its
directors, officers, employees, agents or fiduciaries directors and officers under this Agreement or otherwise.
For example, the Company and Indemnitee acknowledge that the Securities and Exchange Commission ("SEC") has taken the position that indemnification is not permissible for liabilities arising under... certain federal securities laws, and federal legislation prohibits indemnification for certain ERISA violations. Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the Securities and Exchange Commission SEC to submit the question of indemnification to a court in certain circumstances for a determination of the Company's right under public policy to indemnify Indemnitee.
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Mutual Acknowledgement. Both the Company and Indemnitee acknowledge that in certain instances,
Federal federal law or applicable public policy may prohibit the Company from indemnifying its
directors, officers, employees, agents or fiduciaries directors and officers under this Agreement or otherwise. Indemnitee understands and acknowledges that the Company
has undertaken or may be required in the future to undertake with the appropriate state or federal regulatory agency to submit for approval any request for indemnifi...cation, and has undertaken or may be required in the future to undertake with the Securities and Exchange Commission to submit the question of indemnification to a court in certain circumstances for a determination of the Company's right under public policy to indemnify Indemnitee.
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Mutual Acknowledgement.
Both the The Company and
the Indemnitee acknowledge that in certain instances,
Federal applicable law or
applicable public policy may prohibit the Company from indemnifying its directors, officers, employees,
controlling persons, agents or fiduciaries under this Agreement or otherwise.
Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the Securities and Exchange Commission to submit the question of indemnification to a cour...t in certain circumstances for a determination of the Company's right under public policy to indemnify Indemnitee.
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