Common use of Exception for Amounts Covered by Insurance Clause in Contracts

Exception for Amounts Covered by Insurance. Notwithstanding the foregoing, the Company shall not be obligated to indemnify Indemnitee for expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties and amounts paid in settlement) to the extent such have been paid directly to Indemnitee by D&O Insurance. To the extent that any payment payable by the carrier of D&O Insurance in respect of such expenses or liabilities has previously been paid or advanced to Indemnitee by the Company, the parties agree that the Company shall be subrogated to the rights of Indemnitee to receive such payments from the D&O Insurance carrier and that Indemnitee will take all actions reasonably necessary to turn over or otherwise cause the Company to receive any such payment from the D&O Insurance carrier.