SEC Contract Filing

Filing Date: 2018-10-24

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>rli-20180930ex101524e5a.htm
<DESCRIPTION>EX-10.1
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 Exhibit 10-1
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 <font style="display:inline;font-weight:bold;font-size:10pt;">Exhibit 10.1</font>

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 <font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">RLI CORP. DIRECTOR AND OFFICER</font>
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 <font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">INDEMNIFICATION AGREEMENT</font>
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 <font style="display:inline;font-weight:bold;font-size:10pt;">THIS INDEMNIFICATION AGREEMENT</font><font style="display:inline;font-size:10pt;"> (this </font><font style="display:inline;font-weight:bold;font-size:10pt;">&#x201C;Agreement&#x201D;</font><font style="display:inline;font-size:10pt;">) is entered into as of the 15</font><font style="display:inline;font-size:10pt;font-size:5pt;top:-4pt;position:relative;line-height:100%">th</font><font style="display:inline;font-size:10pt;">&nbsp;day of August, 2018, by and between RLI Corp., a Delaware corporation&nbsp;(the </font><font style="display:inline;font-weight:bold;font-size:10pt;">&#x201C;Company&#x201D;</font><font style="display:inline;font-size:10pt;">) and _________________(&#x201C;</font><font style="display:inline;font-weight:bold;font-size:10pt;">Indemnitee</font><font style="display:inline;font-size:10pt;">&#x201D;).</font>
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 <font style="display:inline;font-size:10pt;">A.<font style="display:inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 30pt 0pt 0pt;"></font>The Company is aware that competent and experienced persons are increasingly reluctant to serve or continue serving as directors or officers of companies unless they are protected by comprehensive liability insurance and adequate indemnification due to the increased exposure to litigation costs and risks resulting from service to such companies that often bear no relationship to the compensation of such directors or officers.</font>
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 <font style="display:inline;font-size:10pt;">B.<font style="display:inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 30pt 0pt 0pt;"></font>The statutes and judicial decisions regarding the duties of directors and officers are often insufficient to provide directors and officers with adequate, reliable knowledge of the legal risks to which they are exposed or the manner in which they are expected to execute their fiduciary duties and responsibilities.</font>
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 <font style="display:inline;font-size:10pt;">C.<font style="display:inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 30pt 0pt 0pt;"></font>The Company and the Indemnitee recognize that plaintiffs often seek damages in such large amounts, and the costs of litigation may be so great (whether or not the claims are meritorious), that the defense and/or settlement of such litigation can create an extraordinary burden on the personal resources of directors and officers.</font>
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