Common use of Service by Indemnitee Clause in Contracts

Service by Indemnitee. Indemnitee will serve and/or continue to serve as a director or officer of the Company faithfully and to the best of his ability so long as he is duly elected or qualified in accordance with the provisions of the By-laws of the Company and the Delaware General Corporation Law or until such time as he tenders his resignation in writing. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or other obligation imposed by operation of law), in which event the Company shall have no obligation under this Agreement to continue Indemnitee in any such position. In the event the Indemnitee is now (or at any time hereafter) employed by the Company or any of its subsidiaries, nothing in this Agreement shall confer upon the Indemnitee the right to continue in the employ of the Company or affect the right of the Company to terminate the Indemnitee's employment at any time in the sole discretion of the Company, with or without cause (subject in all events to the terms and conditions of any employment agreements or other contractual obligations to which the Company and the Indemnitee are parties).