Prohibited Indemnification. No indemnification pursuant to this Agreement shall be paid by the Company on account of any Proceeding in which final unappealed judgment beyond the right of appeal is rendered against Indemnitee for an accounting of profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of any federal, state, or local laws.
Prohibited Indemnification. No indemnification pursuant to this Agreement shall be paid by the Company on account of any ProceedingClaim in which a final unappealed judgment beyond the right of appeal is rendered against Indemnitee or Indemnitee enters into a settlement, in each case, # for an accounting of profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of any federal, state,state or local laws.laws; # for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or Other Indemnity Provision (as defined in [Section 11] below), except with respect to any excess beyond the amount paid under any insurance policy or Other Indemnity Provision; or # for which payment is prohibited by law.
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