Common use of Procedures for Determination of Entitlement to Indemnification Clause in Contracts

Procedures for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for Director rights of indemnity that are as favorable as may be permitted under the Michigan Business Corporation Act (and any successor statute) and public policy of the State of Michigan. Accordingly, the parties agree that the following procedures and presumptions shall apply, to the maximum extent permissible by law, in the event of any question as to whether Director is entitled to indemnification under this Agreement:

Procedures for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for Director rights of indemnity that are as favorable as may be permitted under the federal law and Michigan Business Corporation Act (and any successor statute) and public policy of the United States and the State of Michigan. Accordingly, the parties agree that the following procedures and presumptions shall apply, to the maximum extent permissible by law, in the event of any question as to whether Director is entitled to indemnification under this Agreement: