Common use of Exemption and Indemnification Clause in Contracts

Exemption and Indemnification. 4.1. The Parties acknowledge that in no event shall the Wholly-owned Company be liable to or be required to compensate financially or in any other aspect, any other party or any third party for any exercise of the Entrusted Rights by the person designated by the Wholly-owned Company. 4.2. The Current Shareholders and the Domestic-funded Company agree to hold the Wholly-owned Company harmless and compensate the Wholly-owned Company for all losses suffered or likely to be suffered in connection with designating the Proxy to exercise the Entrusted Rights, including but not limited to, any loss resulting from any litigation, demand, arbitration or claim initiated by any third party, and any loss resulting from administrative investigation or penalty by governmental authorities. However, losses suffered as a result of the intentional misconduct or gross negligence of the Proxy shall not be indemnified.

Exemption and Indemnification. 4.1. The Parties acknowledge that in no event shall the Wholly-owned Company be liable to or be required to compensate financially or in any other aspect, any other party or any third party for any exercise of the Entrusted Rights by the person designated by the Wholly-owned Company. 4.2. The Current Shareholders and the Domestic-funded Company agree agrees to hold the Wholly-owned Company harmless and compensate the Wholly-owned Company for all losses suffered or likely to be suffered in connection with designating the Proxy to exercise the Entrusted Rights, including but not limited to, any loss resulting from any litigation, demand, arbitration or claim initiated by any third party, and any loss resulting from administrative investigation or penalty by governmental authorities. However, losses suffered as a result of the intentional misconduct or gross negligence of the Proxy shall not be indemnified.