Question: Consider the Business Development Agreement between Liquidmetal Technologies, Inc. and Eutectix, LLC for Amorphous Alloy Collaboration; What are the insurance requirements under this contract?
Relevant contract clauses:
[{"span": [12508, 13140], "answer": "Eutectix shall, at its own expense: (c) keep the Licensed Equipment in a suitable place, safe from loss or damage; (d) subscribe to an insurance policy from an insurance company reasonably acceptable to Eutectix covering the Licensed Equipment at full replacement value against fire, theft and such other normal business risks, with a waiver of subrogation in favor of Liquidmetal and with Liquidmetal to be named as an additional insured and loss payee, and provide, upon receipt of a written request from Liquidmetal, a certificate evidencing such insurance, and comply with all requirements associated with such insurance policy;", "file_path": "cuad/LiquidmetalTechnologiesInc_20200205_8-K_EX-10.1_11968198_EX-10.1_Development Agreement.txt"}, {"span": [69764, 69962], "answer": "Eutectix shall obtain, pay for, and maintain insurance meeting or exceeding the minimum insurance requirements set forth on Schedule 2 attached hereto, with policy terms satisfactory to Liquidmetal.", "file_path": "cuad/LiquidmetalTechnologiesInc_20200205_8-K_EX-10.1_11968198_EX-10.1_Development Agreement.txt"}, {"span": [80896, 82237], "answer": "Eutectix shall obtain, pay for, and maintain in full force and effect throughout the term of this Agreement insurance as follows: (a) Workers' Compensation and Employers' Liability insurance with limits to conform with the greater of the amount required by applicable law or one million dollars ($1,000,000) each accident, including occupational disease coverage and an endorsement to the Workers' Compensation and Employers' Liability insurance policy, in form acceptable to Liquidmetal, containing a waiver of subrogation by the insurance carrier with respect to Liquidmetal and its parent, subsidiaries, divisions and Affiliates, and all of their respective directors, officers, shareholders, employees and representatives; (b) Commercial General Liability insurance with limits of not less than five million dollars ($5,000,000) combined single limit for bodily injury, death, and property damage, including personal injury, contractual liability, independent contractors, broad- form property damage, and products and completed operations coverage; and, (c) Commercial Automobile Liability insurance with limits of not less than one million dollars ($1,000,000) each occurrence combined single limit of liability for bodily injury, death, and property damage, including owned and non-owned and hired automobile coverages, as applicable.", "file_path": "cuad/LiquidmetalTechnologiesInc_20200205_8-K_EX-10.1_11968198_EX-10.1_Development Agreement.txt"}, {"span": [82839, 83426], "answer": "To the extent any insurance coverage required under this Agreement is purchased on a \"claims-made\" basis, such insurance shall cover all prior acts of Eutectix during the term of this Agreement, and such insurance shall be continuously maintained until at least two (2) years beyond the expiration or termination of the term of this Agreement, or Eutectix shall purchase \"tail\" coverage, effective upon termination of any such policy or upon termination or expiration of the term of this Agreement, to provide coverage for at least two (2) years from the occurrence of either such event.", "file_path": "cuad/LiquidmetalTechnologiesInc_20200205_8-K_EX-10.1_11968198_EX-10.1_Development Agreement.txt"}, {"span": [83613, 83775], "answer": "Eutectix's liability under the Agreement shall not be limited or modified in any way by the amount or terms of any insurance it is required to maintain hereunder.", "file_path": "cuad/LiquidmetalTechnologiesInc_20200205_8-K_EX-10.1_11968198_EX-10.1_Development Agreement.txt"}]