Subject to the Act, but without affecting any indemnity to which he may otherwise
be entitled, every director of the company, will be indemnified out of the assets of
the company against any liability incurred by him in defending any proceedings,
whether civil or criminal, alleging liability for negligence, default, breach of duty or
breach of trust in relation to the affairs of the company, and in which judgment is
given in his favour, or in which he is acquitted, or in connection with any
application in which relief is granted to him by the court.