Comtech Telecommunications Approves New Indemnification Agreement for Directors and Officers

Comtech Telecommunications Corp. (NASDAQ: CMTL) recently announced that its Board of Directors has approved a new indemnification agreement. The agreement, known as the “Indemnification Agreement,” is set to benefit the company’s current directors and certain officers. Comtech Telecommunications Corp. intends to implement this agreement not only with existing board members and officers but also with future appointees.

Under the terms of the Indemnification Agreement, Comtech Telecommunications Corp. is obligated to indemnify each individual covered by the agreement against various expenses, judgments, fines, and settlement amounts related to specific legal proceedings. This indemnification extends to the fullest extent allowed by the laws of Delaware. The coverage applies if the individual’s involvement in the legal matter is due to their role as a current or former director or officer, or in an official capacity for any of the company’s subsidiaries or other entities upon the company’s request.

Furthermore, the Indemnification Agreement includes provisions for the advancement of expenses and outlines specific procedures, qualifications, and limitations that would come into play in the event of a claim for indemnification. Each individual covered by this agreement will have their own unique Indemnification Agreement, replacing any previous indemnification standards. The prior form of indemnification agreement was filed as Exhibit 10.1 to the company’s Form 8-K on March 8, 2007.

It is important to note that the above summary does not encompass all aspects of the Indemnification Agreement. For a complete understanding, interested parties should refer to the full text of the agreement filed as Exhibit 10.1 to the Form 8-K.

In terms of financial disclosures, no new financial statements were included in this filing. The only exhibits attached were the Form of Indemnification Agreement (Exhibit 10.1) and the Cover Page Interactive Data File formatted as Inline XBRL (Exhibit 104).

This latest move by Comtech Telecommunications Corp. demonstrates the company’s commitment to providing security and protection for its directors and officers in various legal matters that may arise in the course of business.

No further details were disclosed in the filing regarding the nature or specific circumstances prompting the approval of the new indemnification agreement by Comtech Telecommunications Corp.’s Board of Directors.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Comtech Telecommunications’s 8K filing here.

Comtech Telecommunications Company Profile

Comtech Telecommunications Corp., together with its subsidiaries, engages in the provision of next-gen telecommunication solutions in the United States and internationally. The company’s Satellite and Space Communications segment offers satellite ground station technologies, services and system integration that facilitates the transmission of voice, video, and data over GEO, MEO and LEO satellite constellations, including solid-state and traveling wave tube power amplifiers, modems, VSAT platforms, and frequency converters; and satellite communications and tracking antenna systems, including high precision full motion fixed and mobile X/Y tracking antennas, RF feeds, reflectors, and radomes.