STJ » Topics » Indemnity

This excerpt taken from the STJ 8-K filed Oct 29, 2008.
Indemnity. The Company shall, to the greatest extent permitted by ERISA and applicable state law, indemnify each member of the Plan Administration and Plan Investment Committees, and any other employee of the Company, including any officer, who in the performance of his or her duties as an employee exercises any discretion or control over the administration of the Plan or its assets against any and all claims, loss, damages, expenses (including counsel fees approved by the respective Committee), and liability (including any amounts paid in settlement with the respective Committee’s approval) arising from any loss or damage or depreciation which may result in connection with the execution of the respective Committee’s duties or the exercise of the respective Committee’s discretion or from any other action or failure to act hereunder.

 

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