Company: UMBFO
Filing Date: 2025-02-03
Form Type: S-8
Source: 0000950103-25-001331
Chunk: 9

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-03
Form: S-8
Chunk 9
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 determination that it is proper because the person has met the applicable
standard of conduct. Such a determination may be made by the UMB board of directors, or a committee of the UMB board of directors composed
solely of non-employee directors, and as otherwise permitted by applicable law.

The UMB bylaws further provide that, unless required
by applicable law, no person shall be indemnified against any expenses incurred (i) to the extent prohibited by applicable law, or to
the extent an indemnification otherwise constitutes a “prohibited indemnification payment” (as such term is defined under
the Federal Deposit Insurance Act and regulations thereunder), except as specifically permitted by the Federal Deposit Insurance Act and
regulations, (ii) unless the person notifies UMB in writing of the action promptly on becoming aware and, before incurring expense of
any kind in connection with the action, gives UMB or its insurer the opportunity to provide an independent attorney to represent them
in connection with the action, (iii) in connection with any settlement of any action brought or threatened against them unless the UMB
board of directors (A) approved the amount of such settlement as (I) reasonable and (II) not affecting UMB’s safety and soundness,
or (B) could not, by reason of the action, act with complete independence and free of circumscription in relation to the action or (iv)
in connection with any (A) claim made against them for an accounting of profits made from the purchase or sale by them of securities of
UMB within the meaning of Section 16b of the Exchange Act or similar provisions of any applicable law, or (B) action, suit,
or proceeding (or part thereof) initiated by such person claiming indemnification unless such action, suit, or proceeding (or part thereof)
initiated by such person was authorized by the UMB board of directors.

The UMB bylaws further provide that, to the extent
permissible under applicable law, the right to indemnification of executives includes the right to be paid by UMB reasonable expenses
(but not including any retainers or prepayments of fees, unless such retainers or prepayments are specifically approved), incurred in
defending any such action, in advance of its final disposition, but only (i) upon such executive’s delivery to UMB of a written
agreement, in which they agree to repay all amounts advanced if it should be ultimately determined by a court or other tribunal or by
the UMB