Very
truly yours,
|
||
Canaccord
Adams Inc.
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||
By:
|
||
Name:
Title:
|
||
Wedbush
Morgan Securities, Inc.
|
||
By:
|
||
Name:
Title:
|
||
Agreed
to and accepted
as
of the date first written above:
|
|||
XOMA,
LTD.
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|||
By:
|
|||
Name:
|
|||
Title:
|
1.
|
To
the extent permitted by law, the Company will indemnify each of the
Placement Agents and their affiliates, stockholders, directors, officers,
employees and controlling persons (within the meaning of Section 15 of the
Securities Act of 1933, as amended, or Section 20 of the Securities
Exchange Act of 1934, as amended) against all losses, claims, damages,
expenses and liabilities, as the same are incurred (including the
reasonable fees and expenses of counsel), relating to or arising out of
its activities hereunder or pursuant to the Agreement, except to the
extent that any losses, claims, damages, expenses or liabilities (or
actions in respect thereof) are found in a final judgment (not subject to
appeal) by a court of law to have resulted primarily and directly from any
indemnified person’s willful misconduct or gross negligence or from untrue
statements or omissions made in reliance upon and conformity with
information supplied in writing by the Placements Agents or their agents
specifically for inclusion in a Company Registration Statement or any
prospectus (including supplements) the Financing (as defined in the
Agreement).
|
2.
|
Promptly
after receipt by Canaccord or the Co-Placement Agent of notice of any
claim or the commencement of any action or proceeding with respect to
which the Placement Agents are entitled to indemnity hereunder, one or
both of the Placement Agents will notify the Company in writing of such
claim or of the commencement of such action or proceeding, and the Company
will assume the defense of such action or proceeding and will employ
counsel reasonably satisfactory to the Placement Agents and will pay the
fees and expenses of such counsel. Notwithstanding the
preceding sentence, the Placement Agents will be entitled to employ one
counsel to represent both of them separate from counsel for the Company
and from any other party in such action if counsel for either of the
Placement Agents reasonably determines that it would be inappropriate
under the applicable rules of professional responsibility for the same
counsel to represent both the Company and the Placement
Agents. In such event, the reasonable fees and disbursements of
no more than one such separate counsel will be paid by the
Company. The Company will have the exclusive right to settle
the claim or proceeding provided that the Company will not settle any such
claim, action or proceeding without the prior written consent of each of
the Placement Agents, which will not be unreasonably
withheld.
|
3.
|
The
Company agrees to notify each of the Placement Agents promptly of the
assertion against it or any other person of any claim or the commencement
of any action or proceeding relating to a transaction contemplated by the
Agreement.
|
4.
|
If
for any reason the foregoing indemnity is unavailable to the Placement
Agents or insufficient to hold the Placement Agents harmless, then the
Company shall contribute to the amount paid or payable by each of the
Placement Agents as a result of such losses, claims, damages or
liabilities in such proportion as is appropriate to reflect not only the
relative benefits received by the Company on the one hand and each of the
Placement Agents on the other, but also the relative fault
of
|
5.
|
These
Indemnification Provisions shall remain in full force and effect whether
or not the transaction contemplated by the Agreement is completed and
shall survive the termination of the Agreement, and shall be in addition
to any liability that the Company might otherwise have to any indemnified
party under the Agreement or
otherwise.
|
CANACCORD
ADAMS INC.
|
||
By:
|
||
Name:
Title:
|
||
WEDBUSH
MORGAN SECURITIES, INC.
|
||
By:
|
||
Name:
Title:
|
||
Agreed
to and accepted
as
of the date first written above:
|
|||
XOMA,
LTD.
|
|||
By:
|
|||
Name:
|
|||
Title:
|