Directors and Officers Indemnitv Insurance. The Company shall obtain and maintain directors and officers indemnity insurance to provide coverage with a face value of $2,000,000. So long as the Company is privately held, the Company shall use its reasonable best efforts to maintain such insurance in at least the aforestated coverage amounts. The Company shall use its best efforts to increase the coverage to a face value of $10,000,000 prior to the Company’s initial public offering.
Directors and Officers Insurance. The Company will maintain a policy of directors’ and officer’s liability insurance with broad form coverage, insuring you as both an officer and director of the Company and with coverage limits of not less than Two Million Dollars ($2,000,000) per occurrence. Company will pay for up to $1,000,000 in errors and omission insurance, if D&O coverage is less than $2,000,000.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.