Nautilus 2006 Annual Report Download - page 167

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CHAPTER 9
STAFF AND EMPLOYEE MATTERS
30
of the foregoing matters, including those out-of-pocket costs, charges and expenses in respect of the participation of officers
and employees of Seller or the Shareholders after the Closing Date in defense thereof. Notwithstanding the foregoing, the
maximum aggregate liability of Nautilus and Buyer for all claims made by Seller or the Shareholders under Article 8.3.2
shall not exceed (*).
Article 8.4 Payments to Seller and the Shareholders
. Nautilus shall promptly reimburse Seller or the Shareholders for all amounts owed
under Article 8.3 from time to time, at their request, as such amounts are incurred. Notwithstanding the foregoing, Seller and
the Shareholders shall not make any particular claim for an amount owed under Article 8.3.2 after the Indemnity Cut-Off
Date.
Article 8.5 Third Party Claims
. If a claim by a third party is made against an indemnified Party hereunder, and if a Party intends to seek
indemnity with respect thereto under this Chapter 8 (such Party being the “Indemnified Party”), the Indemnified Party or
Parties shall promptly (and in any case within thirty (30) days) notify the other Party or Parties (the “Indemnifying Party”)
of
such claim. The Indemnifying Party shall have thirty (30) days after receipt of the above-mentioned notice to undertake,
conduct and control, through counsel of its own choosing (subject to the consent of the Indemnified Party, such consent not
to be unreasonably withheld) and at its expense, the settlement or defense thereof, and the Indemnified Party shall cooperate
with it in connection therewith; provided, that : (i) the Indemnifying Party shall not thereby permit to exist any Lien upon
any asset of the Indemnified Party, (ii) the Indemnifying Party shall permit the Indemnified Party to participate in such
settlement or defense through counsel chosen by the Indemnified Party, provided that the fees and expenses of such counsel
shall be borne by the Indemnified Party, and (iii) the Indemnifying Party shall promptly reimburse the Indemnified Party for
the full amount of any loss resulting from such claim and all related expenses incurred by the Indemnified Party within the
limits of this Chapter 8. So long as the Indemnifying Party is reasonably contesting any such claim in good faith, the
Indemnified Party shall not pay or settle any such claim. Notwithstanding the foregoing, the Indemnified Party shall have the
right to pay or settle any such claim, provided that in such event it shall waive any right to indemnity therefore by the
Indemnifying Party. If the Indemnifying Party does not notify the Indemnified Party within thirty days after receipt of the
Indemnified Party's notice of a claim of indemnity hereunder that it elects to undertake the defense thereof, the Indemnified
Party shall have the right to contest, settle or compromise the claim in the exercise of its exclusive discretion at the expense
of the Indemnifying Party.
Article 9.1
Staff and Employees
. Seller has delivered to Nautilus and Buyer a list,