Statute 21 2 116

21-2,116. Indemnification of officers.(MBCA 8.56) (a) A corporation may indemnify and advance expenses under sections 21-2,110 to 21-2,119 to an officer of the corporation who is a party to a proceeding because he or she is an officer of the corporation:(1) To the same extent as a director; and(2) If he or she is an officer but not a director, to such further extent as may be provided by the articles of incorporation, the bylaws, a resolution of the board of directors, or contract except for:(i) Liability in connection with a proceeding by or in the right of the corporation other than for expenses incurred in connection with the proceeding; or(ii) Liability arising out of conduct that constitutes:(A) Receipt by the officer of a financial benefit to which he or she is not entitled;(B) An intentional infliction of harm on the corporation or the shareholders; or(C) An intentional violation of criminal law.(b) The provisions of subdivision (a)(2) of this section shall apply to an officer who is also a director if the basis on which he or she is made a party to the proceeding is an act or omission solely as an officer.(c) An officer of a corporation who is not a director is entitled to

ho is also a director if the basis on which he or she is made a party to the proceeding is an act or omission solely as an officer.(c) An officer of a corporation who is not a director is entitled to mandatory indemnification under section 21-2,112 and may apply to a court under section 21-2,114 for indemnification or an advance for expenses, in each case to the same extent to which a director may be entitled to indemnification or advance for expenses under such provisions.Source Laws 2014, LB749, § 116.