Common use of Other Rights; Continuation of Right to Indemnification Clause in Contracts

Other Rights; Continuation of Right to Indemnification. The indemnification and advances provided by this Agreement shall not be deemed exclusive of any other rights to which the Indemnitee seeking indemnification may be entitled under any law (common or statutory), provision of Lyondell's Certificate of Incorporation or By-Laws, vote of stockholders or disinterested directors, or otherwise, both as to action in the Indemnitee's official capacity and as to action in another capacity while holding office or while employed by or acting as agent for Lyondell, and shall continue as to a person who has ceased to be a director or officer, and shall inure to the benefit of the estate, heirs, executors and administrators of the Indemnitee; provided, however, that notwithstanding the foregoing, this Agreement supersedes all other prior indemnity agreements, indemnification agreements or other agreements of a similar nature heretofore entered into between Lyondell and the Indemnitee, as well as any prior oral agreements or oral understandings with respect to the subject matter of this indemnity agreement; provided, however, that, notwithstanding the foregoing proviso, and in light of the fact that this Agreement is generally intended to provide for indemnification to the fullest extent permitted by the DGCL, this Agreement shall not be construed to deprive the Indemnitee of any indemnification by Lyondell permitted by applicable law with respect to an act or omission occurring prior to the date hereof that Indemnitee would otherwise have been entitled to under any such prior agreement.

Appears in 2 contracts

Samples: Indemnification Agreement (Lyondell Chemical Co), Indemnity Agreement (Lyondell Chemical Co)

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Other Rights; Continuation of Right to Indemnification. The indemnification and advances provided by this Agreement shall not be deemed exclusive of any other rights to which the Indemnitee seeking indemnification may be entitled under any law (common or statutory), provision of Lyondell's Certificate of Incorporation or By-Laws, vote of stockholders or disinterested directors, or otherwise, both as to action in the Indemnitee's official capacity and as to action in another capacity while holding office or while employed by or acting as agent for Lyondell, and shall continue as to a person who the Indemnitee after he or she has ceased to be a director or officer, and shall inure to the benefit of the estate, heirs, executors and administrators of the Indemnitee; provided, however, that notwithstanding the foregoing, this Agreement supersedes all other prior indemnity agreements, indemnification agreements or other agreements of a similar nature heretofore entered into between Lyondell and the Indemnitee, as well as any prior oral agreements or oral understandings with respect to the subject matter of this indemnity agreement; provided, however, that, notwithstanding the foregoing proviso, and in light of the fact that this Agreement is generally intended to provide for indemnification to the fullest extent permitted by the DGCL, this Agreement shall not be construed to deprive the Indemnitee of any indemnification by Lyondell permitted by applicable law with respect to an act or omission occurring prior to the date hereof that Indemnitee would otherwise have been entitled to under any such prior agreement.

Appears in 1 contract

Samples: Indemnification Agreement (Lyondell Chemical Co)

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Other Rights; Continuation of Right to Indemnification. The indemnification and advances provided by this Agreement shall not be deemed exclusive of any other rights to which the Indemnitee seeking indemnification may be entitled under any law (common or statutory), provision of Lyondell's Certificate of Incorporation or By-LawsByLaws, vote of stockholders or disinterested directors, or otherwise, both as to action in the Indemnitee's official capacity and as to action in another capacity while holding office or while employed by or acting as agent for Lyondell, and shall continue as to a person who the Indemnitee after he or she has ceased to be a director or officer, and shall inure to the benefit of the estate, heirs, executors and administrators of the Indemnitee; provided, however, that notwithstanding the foregoing, this Agreement supersedes all other prior indemnity agreements, indemnification agreements or other agreements of a similar nature heretofore entered into between Lyondell and the Indemnitee, as well as any prior oral agreements or oral understandings with respect to the subject matter of this indemnity agreement; provided, however, that, notwithstanding the foregoing proviso, and in light of the fact that this Agreement is generally intended to provide for indemnification to the fullest extent permitted by the DGCL, this Agreement shall not be construed to deprive the Indemnitee of any indemnification by Lyondell permitted by applicable law with respect to an act or omission occurring prior to the date hereof that Indemnitee would otherwise have been entitled to under any such prior agreement.

Appears in 1 contract

Samples: Indemnification Agreement (Lyondell Chemical Co)

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