Indemnification and advancement of expenses (Article VII)
Company: Marathon Digital
The claim, verbatim
The 2011 articles require the corporation to indemnify directors and officers to the fullest extent of Nevada law as a contract right. Defense expenses must be advanced as incurred, upon an undertaking to repay if a court finds the person is not entitled to indemnification.
Source (primary)
In re Marathon Digital Holdings, Inc. Derivative Litigation — Entry #87: DECLARATION of Kimberly P (RECAP (purchased via PACER), court_filing)
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Quote: “ex~ of ,officers and directors ioouired in defe,nding a civil (Ir criminal action. 5Uit or proocedini mu,i be paid by lhe C-orpontlon as they arc incurred”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms In re Marathon Digital Holdings, Inc. Derivative Litigation — Entry #87: DECLARATION of Kimberly P
Quote: “ex~ of ,officers and directors ioouired in defe,nding a civil (Ir criminal action. 5Uit or proocedini mu,i be paid by lhe C-orpontlon as they arc incurred”