Common use of Nonexclusivity and Severability Clause in Contracts

Nonexclusivity and Severability. (a) The right to indemnification provided by this Agreement shall not be exclusive of any other rights to which the Indemnitee may be entitled as to action in his capacity as a director, officer, employee, or agent and the rights of Indemnitee hereunder shall continue after the Indemnitee has ceased to be a director, officer, employee, or agent. (b) The right to indemnification provided by this Agreement is in addition to, and not in lieu of, any rights conferred under the bylaws of the Company as they may be amended from time to time and the Georgia Business Corporation Code as it may be amended from time to time. (c) If any provision of this Agreement or the application of any provision hereof to any person or circumstances is held invalid, unenforceable or otherwise illegal, the remainder of this Agreement and the application of such provision to other persons or circumstances shall not be affected, and the provision so held to be invalid, unenforceable or otherwise illegal shall be reformed to the extent (and only to the extent) necessary to make it enforceable, valid and legal. (d) This Agreement is not an agreement of employment, and Indemnitee acknowledges that the Company has no obligation to employ Indemnitee in any capacity by virtue hereof.

Appears in 2 contracts

Samples: Indemnification Agreement (T/R Systems Inc), Indemnification Agreement (T/R Systems Inc)

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Nonexclusivity and Severability. (a) The right to indemnification provided by this Agreement shall not be exclusive of any other rights to which the Indemnitee may be entitled as to action in his capacity as a director, officer, employee, or agent and the rights of Indemnitee hereunder shall continue after the Indemnitee has ceased to be a director, officer, employee, or agent. (b) The right to indemnification provided by this Agreement is in addition to, and not in lieu of, any rights conferred under the bylaws of the Company as they may be amended from time to time and the Georgia Business Corporation Code as it may be amended from time to time. (c) If any provision of this Agreement or the application of any provision hereof to any person or circumstances is held invalid, unenforceable or otherwise illegal, the remainder of this Agreement and the application of such provision to other persons or circumstances shall not be affected, and the provision so held to be invalid, unenforceable or otherwise illegal shall be reformed to the extent (and only to the extent) necessary to make it enforceable, valid and legal. (d) This Agreement is in not an agreement of employment, and Indemnitee acknowledges that the Company has no obligation to employ Indemnitee in any capacity by virtue hereof.

Appears in 1 contract

Samples: Indemnification Agreement (T/R Systems Inc)

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