Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 250

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 250
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 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 Merger Agreement with respect to any actual or alleged error, misstatement, misleading statement, act, omission, neglect, breach of duty or any matter claimed against a director or officer of Channel or LNHC, as applicable, by reason of him or her serving in such capacity that existed