Common use of Third Party Enforcement Clause in Contracts

Third Party Enforcement. Any holder of Series A Preferred Stock may (but is not obligated to) enforce this Agreement on behalf of the Company if the Company, within 15 days following notice from the holder, fails to enforce the Agreement following a breach of the Agreement by Employee. The Company shall promptly reimburse the Series A Preferred Stock holder and its representatives for all costs associated with such enforcement, including, but not limited to all advance retainers for legal or other services, and all other costs and shall indemnify and hold the Series A Preferred Stock holder harmless from all costs and liability that arise from all actions taken by the Series A Preferred Stock holder in reliance upon this Section 4.12.