14. Commitments and Contingencies

 

Purchase Commitments

 

The Company had non-cancellable purchase commitments for the purchase of inventory, which extend through March 2020 totaling approximately $61.3 million as of March 31, 2019.

 

Indemnification of Directors and Officers

 

The Company has agreed to indemnify its officers and directors for certain events or occurrences while the officer or director is or was serving at the Company’s request in such capacity. The maximum amount of potential future indemnification is unlimited; however, the Company has a directors’ and officers’ insurance policy that provides corporate reimbursement coverage that limits its exposure and enables it to recover a portion of any future amounts paid. The Company has no liabilities recorded for these agreements as of March 31, 2019, as there were no outstanding claims.

 

Legal Matters

 

From time to time, the Company may become involved in legal proceedings arising in the ordinary course of business. The Company is not presently a party to any legal proceedings, that if determined adversely to Control4,  the Company believes would individually or in the aggregate have a material adverse effect on the business, results of operations, financial condition or cash flows.