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2007-002 Resolution
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2007-002 Resolution
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Last modified
1/9/2014 3:51:34 PM
Creation date
12/30/2013 8:01:42 AM
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North Olmsted Legislation
Legislation Number
2007-002
Legislation Date
2/20/2007
Year
2007
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NEO I SO <br />(iii) By the Court of Common Pleas or the court in which such action, suit or <br />proceeding was brought. <br />Any determination made according to methods (i) or (ii) of Section 12.2(e) above <br />will be promptly communicated to any person who threatened or brought an <br />action or suit by or in the right of this Corporation. <br />(g) Expenses, including attorneys' fees, incurred with respect to any claim, action, <br />suit, proceeding or investigation (or any issue or matter therein) of the character <br />described in this Section 12.2 may be advanced by this Corporation prior to the <br />final disposition thereof as authorized by the Directors in a specific case upon <br />receipt of an undertaking by or on behalf of a Covered Person: (i) to repay such <br />amount, if it is proved by clear and convincing evidence in a court of competent <br />jurisdiction that the Covered Person's action or failure to act involved an act or <br />omission undertaken with deliberate intent to cause injury to the Corporation or <br />undertaken with reckless disregard for the best interests of the Corporation; (ii) to <br />cooperate with the Corporation concerning the action, suit or proceeding; and (iii) <br />where indemnification is granted, to repay any amount to the extent the expenses <br />so advanced exceed the indemnification to which the Covered Person is entitled. <br />(h) Such indemnification as provided by this Section 12 will not be deemed exclusive <br />of any other rights to which a person who is, or was, serving in a Covered <br />Position may be entitled under this Corporation's Articles of Incorporation, Code <br />of Regulations, or any agreement, vote of disinterested Directors, or otherwise, <br />both as to action in the person's official capacity and as to action in another <br />capacity while holding such office, and will continue as to a person who has <br />ceased serving in a Covered Position and will inure to the benefit of the heirs, <br />legal representatives, executors and administrators of such person. <br />12.3 Insurance. This Corporation (a) will purchase and maintain insurance on behalf <br />of any Directors and Officers and (b) may purchase and maintain insurance on behalf of any <br />other Covered Person against any liability asserted against the Covered Person or incurred by the <br />Covered Person in any such capacity, or arising out of the Covered Person's status as such, <br />whether or not this Corporation would have the power to indemnify the Covered Person against <br />such liability under Section 12.2 above or the Ohio Nonprofit Corporation Law. <br />12.4 No Mandatoi;v Indemnification of Volunteer. Section 1702.12(E)(5) of the Ohio <br />Nonprofit Corporation Law will not apply to the Corporation to the extent that it requires the <br />indemnification of volunteers (as that term is defined in Section 1702.01(N) of the Ohio <br />Nonprofit Corporation Law) other than Directors or Officers of the Corporation or directors or <br />officers of another domestic or foreign nonprofit corporation or corporation for profit, or <br />partnership, joint venture, employee benefit plan, trust or other enterprise serving at the request <br />of the Corporation. <br />-18- <br />Northeast Ohio Sourcing Office 5422 f:tict 96th St. Suite 150 Ii 1276.581.6200 <br />(1. ,? <br />??1?tiv.ncoso.org Clevcland, OH 44125 f 1216.581.6213 ' <br />
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