Common use of Additional Indemnification Rights Nonexclusivity Clause in Contracts

Additional Indemnification Rights Nonexclusivity. (a) Scope. The Company hereby agrees to indemnify Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification is not specifically authorized by the other provisions of this Agreement, the Company's Articles of Incorporation, the Company's By-laws or by statute. In the event of any change after the date of this Agreement in any applicable law, statute or rule which expands the right of an Illinois corporation to indemnify a member of its Board of Directors or an officer, employee, agent or fiduciary, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits afforded by such change. In the event of any change in any applicable law, statute or rule which narrows the right of an Illinois corporation to indemnify a member of its Board of Directors or an officer, employee, agent or fiduciary, such change, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties' rights and obligations hereunder except as set forth in Section 8(a) hereof.

Appears in 1 contract

Sources: Indemnification Agreement (Speedfam Ipec Inc)

Additional Indemnification Rights Nonexclusivity. (a) Scope. The Company hereby agrees to indemnify Indemnitee the Indemnitees to the fullest extent permitted by law, notwithstanding that even if such indemnification is not specifically authorized by the other provisions of this Agreement, the Company's Articles ’s Certificate of Incorporation, the Company's By-laws ’s Bylaws or by statute. In the event of any change after the date of this Agreement in any applicable law, statute or rule which that expands the right of an Illinois a Delaware corporation to indemnify a member of its Board of Directors or an officer, employee, controlling person, agent or fiduciary, it is the intent of the parties hereto that Indemnitee the Indemnitees shall enjoy by this Agreement the greater benefits afforded by such change. In the event of any change after the date of this Agreement in any applicable law, statute or rule which that narrows the right of an Illinois a Delaware corporation to indemnify a member of its Board of Directors or an officer, employee, agent or fiduciary, such change, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties' rights and obligations hereunder except as set forth in Section 8(a) hereof.

Appears in 1 contract

Sources: Indemnification Agreement (Sirna Therapeutics Inc)