Section 145(e) of the DGCL provides that expenses incurred by a director or officer in defending any civil, criminal, administrative or investigative action, suit or proceeding may be paid by the corporation in advance of the final disposition of the action, suit or proceeding upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it is ultimately determined that he or she is not entitled to be indemnified by the corporation because he or she has not met the relevant standard of conduct described above.
Coeur Mining, Inc.
Article X, Section 10.1 of the Certificate of Incorporation of Coeur Mining, Inc. (“Coeur”) provides that, to the fullest extent permitted by the DGCL as the same exists or may hereafter be amended, no director will be personally liable to Coeur or its stockholders for monetary damages for breach of fiduciary duty as a director.
Article VI of Coeur’s Bylaws requires indemnification and the advancement of defense expenses to directors, officers and employees to the fullest extent permitted by the DGCL. The rights to indemnification and advancement granted under the DGCL and the Bylaws are not exclusive of any other rights any person may have or acquire under any law, agreement, vote of stockholders or directors, provisions of a charter or bylaws, or otherwise.
Coeur maintains insurance for the benefit of the directors and officers of Coeur and its subsidiaries to insure these persons against certain liabilities, whether or not Coeur would have the power to indemnify them against these liabilities under the DGCL.
Coeur enters into certain indemnification agreements with the directors and officers of Coeur and its subsidiaries. The indemnification agreements provide such directors and officers with further indemnification, to the maximum extent permitted by the DGCL.
Other Registrants Incorporated in Delaware
The Bylaws for each of Coeur Alaska, Inc., Coeur Capital, Inc., Coeur South America Corp., Sterling Intermediate Holdco, Inc., Wharf Resources Management Inc., Wharf Reward Mines Inc., and Wharf Gold Mines Inc., permits indemnification and the advancement of defense expenses to directors, officers and employees to the fullest extent permitted by the DGCL. The Bylaws for Coeur Rochester, Inc. provides only for the indemnification of directors, officers and employees to the extent permitted by DGCL. In addition, the Bylaws for each of Wharf Resources Management Inc., Wharf Reward Mines Inc., and Wharf Gold Mines Inc. provide that the right to indemnification are not exclusive of any other rights any person may have or acquire under any agreement, vote of stockholders or disinterested directors, or otherwise.
Coeur Sterling Holdings LLC
The Limited Liability Company Agreement (the “LLC Agreement”) for Coeur Sterling Holdings LLC (“Coeur Sterling Holdings”) provides that, no member, or officer, delegate, shareholder, employee or agent (collectively, the “Covered Persons”), shall be liable in damages or otherwise to Coeur Sterling Holdings or any member for any act or omission by such person if such person acted in good faith and in a manner believed to be in the best interests of Coeur Sterling Holdings, unless such conduct constitutes fraud, gross negligence, willful misconduct or a material breach of the Coeur Sterling Holding’s LLC Agreement. In addition, the LLC agreement allows for the indemnification and the advancement of defense expenses to the Covered Persons, to the fullest extent permitted by the Delaware Limited Liability Company Act.
Golden Reward Mining Company Limited Partnership
The Limited Partnership Agreement for Golden Reward Mining Company Limited Partnership (the “Partnership”) provides that to the fullest extent permitted by Delaware Limited Partnership Agreement, a General Partner or any Manager, agent or employee of the Partnership or any affiliate, partner, stockholder, officer, director, employee or agent of the General Partner (including the executors, heirs, assigns, successors or other legal representatives of any such persons) (collectively, the “Covered Persons”) is entitled to indemnification from the Partnership for acts or omission performed or omitted by the Covered Person acting in good faith on behalf of the Partnership and in a manner reasonably believed to be within the scope of the authority conferred on the Covered Person. However, a Covered Person shall not be entitled to indemnification in respect of any loss, damage or claim incurred by such Covered Person for gross negligence or willful misconduct