Common use of Insurance and Other Financial Arrangements Clause in Contracts

Insurance and Other Financial Arrangements. (a) The Board of Directors may cause the Company to purchase and maintain insurance or make other financial arrangements on behalf of any person who is or was a Member, Director, officer, employee or agent of the Company, or is or was serving at the request of the Company as a manager, Member, director, officer, employee or agent of another limited liability company, corporation, partnership, joint venture, trust or other enterprise for any liability asserted against him and liability and expenses incurred by him in his capacity as a Director, member, director, officer, employee or agent, or arising out of his status as such, whether or not the Company has the authority to indemnify him against such liability and expenses. (b) The other financial arrangements made by the Company pursuant to Section 13.5(a) may include: (i) The creation of a trust fund; (ii) The establishment of a program of self-insurance; (iii) The securing of its obligation of indemnification by granting a security interest or other lien on any assets of the Company; or (iv) The establishment of a letter of credit, guaranty or surety. No financial arrangement made pursuant to this Section 13.5(b) may provide protection for a person adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable for intentional misconduct, fraud or a knowing violation of law, except with respect to the advancement of expenses or indemnification ordered by a court. (c) In the absence of fraud: (i) The decision of the Company as to the propriety of the terms and conditions of any insurance or other financial arrangement made pursuant to this Section 13.5 and the choice of the person to provide the insurance or other financial arrangement is conclusive; and (ii) The insurance or other financial arrangement: (A) Is not void or voidable; and (B) Does not subject any Director or Member approving it to personal liability for his action, even if a Director or Member approving the insurance or other financial arrangement is a beneficiary of the insurance or other financial arrangement.

Insurance and Other Financial Arrangements. (a) The Board of Directors Company may cause the Company to purchase and maintain insurance or make other financial arrangements on behalf of any person who is or was a Member (but solely with respect to its status as a Member, Director), officer, employee or agent of the Company, or is or was serving at the request of the Company as a manager, Membermember, director, officer, employee or agent of another limited liability company, corporation, partnership, joint venture, trust or other enterprise enterprise, in each case for any liability asserted against him such Person and liability and expenses incurred by him such Person in his such Person’s capacity as a Directormember, membermanager, director, officer, employee or agent, or arising out of his such Person’s status as such, whether or not the Company has the authority to indemnify him such Person against such liability and expenses. (b) The other financial arrangements made by the Company pursuant to Section 13.5(a12.6(a) may include: (i) The creation of a trust fund;; 38 /s/ SAE BP /s/ CAR Verenium (ii) The establishment of a program of self-insurance; (iii) The securing of its obligation of indemnification by granting a security interest or other lien on any assets of the Company; or (iv) The establishment of a letter of credit, guaranty or surety. No financial arrangement made pursuant to this Section 13.5(b12.6(b) may provide protection for a person adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable for intentional misconduct, fraud or a knowing violation of law, except with respect to the advancement of expenses or indemnification ordered by a court. (c) In the absence of fraud: (i) The decision of the Company as to the propriety of the terms and conditions of any insurance or other financial arrangement made pursuant to this Section 13.5 12.6 and the choice of the person to provide the insurance or other financial arrangement is conclusive; and (ii) The insurance or other financial arrangement: (A1) Is not void or voidable; and (B2) Does not subject any Director or Member approving it to personal liability for his such Member’s action, even if a Director an Officer or Member approving the insurance or other financial arrangement is a beneficiary of the insurance or other financial arrangement.

Insurance and Other Financial Arrangements. (a) The Board of Directors Company may cause the Company to purchase and maintain insurance or make other financial arrangements on behalf of any person who is or was a Member, Director, officer, employee or agent of the Company, or is or was serving at the request of the Company as a manager, Member, director, officer, employee or agent of another limited liability company, corporation, partnership, joint venture, trust or other enterprise for any liability asserted against him or her and liability and expenses incurred by him or her in his or her capacity as a Director, member, director, officer, employee or agent, or arising out of his or her status as such, whether or not the Company has the authority to indemnify him or her against such liability and expenses. (b) The other financial arrangements made by the Company pursuant to Section 13.5(a11.7(a) may include: (i) The creation of a trust fund; (ii) The establishment of a program of self-insurance; (iii) The securing of its obligation of indemnification by granting a security interest or other lien on any assets of the Company; or (iv) The establishment of a letter of credit, guaranty or surety. No financial arrangement made pursuant to this Section 13.5(b11.7(b) may provide protection for a person adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable for intentional misconduct, fraud or a knowing violation of law, except with respect to the advancement of expenses or indemnification ordered by a court. (c) In the absence of fraud: (i) The decision of the Company as to the propriety of the terms and conditions of any insurance or other financial arrangement made pursuant to this Section 13.5 11.7 and the choice of the person to provide the insurance or other financial arrangement is conclusive; and (ii) The insurance or other financial arrangement: (A) Is not void or voidable; and (B) Does not subject any Director or Member approving it to personal liability for his action, even if a Director or Member approving the insurance or other financial arrangement is a beneficiary of the insurance or other financial arrangement.