Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 250

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 250
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 any of their respective subsidiaries, is or was serving at the request of LNHC, Channel or any of their respective subsidiaries as a director, officer, employee or agent of another person, whether asserted or claimed prior to, at or after the Effective Time, to the extent permitted under the applicable certificate or articles of incorporation and bylaws. Each indemnified person will be entitled to advancement of expenses (including reasonable and documented attorneys’ fees) incurred in the defense of any such claim, action, suit, proceeding or investigation from each of Channel or combined company following receipt by Channel or the combined company from the indemnified persons of a request therefor; provided, that any person to whom expenses are advanced provides an undertaking, to the extent then required by the DGCL or the NRS, as applicable, to repay such advances if it is ultimately determined that such person is not entitled to indemnification. From the Effective Time through the sixth anniversary of the date on which the Effective Time occurs, the certificate of incorporation and bylaws of the combined company will contain provisions at least as favorable as the provisions relating to the indemnification, advance of expenses and elimination of liability for monetary damages set forth in the certificate or articles of incorporation and bylaws of LNHC and Channel immediately prior to the Effective Time. From the Effective Time through the sixth anniversary of the date on which the Effective Time occurs, the certificate of incorporation and bylaws of the combined company will contain provisions at least as favorable as the provisions relating to indemnification, advancement of expenses and elimination of liability for monetary damages as those set forth in the certificate or articles of incorporation and bylaws of Channel and LNHC immediately prior to the Effective Time. Prior to the Effective Time, each of Channel and LNHC, as applicable, will determine in good faith to either (i) continue to maintain in effect for six years after the Effective Time, Channel’s and LNHC’s directors’ and officers’ insurance policies and fiduciary liability insurance policies, as applicable, in place as of the date of the Merger Agreement or (ii) purchase a six year “D&O tail policy” for the non-cancellable extension of the of the directors’ and officers’ liability coverage of each of Channel’s and LNHC’s directors’ and officers’ insurance policies, as applicable, for a claims reporting or discovery period of at least six years from the Effective Time, with terms, conditions, retentions and limits of liability that are no less favorable than the coverage provided under the applicable existing policies as of the date of the