Under the DGCL, advancement and indemnification is only appropriate if the director or officer is defending a claim that exists “by reason of the fact that the person is or
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DGCL Section 145
Advancement Rights Distinguished from Indemnification
By Fox Rothschild LLP on
The statutory right to advancement of directors and officers of a Delaware corporation under Section 145(e) of the Delaware General Corporation Law (“DGCL”) should not be confused with indemnification rights…
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Section 145 Advancement Rights May Not be Changed Retroactively After Advancement Sought
By Fox Rothschild LLP on
A Delaware corporation may impose additional restrictions or conditions upon permissive advancement rights. However, a Delaware corporation’s board of directors may not change the terms of contractually mandatory advancement after…
Continue Reading Section 145 Advancement Rights May Not be Changed Retroactively After Advancement Sought