2013 New York Consolidated Laws
BSC - Business Corporation
Article 7 - (701 - 726) DIRECTORS AND OFFICERS
721 - Nonexclusivity of statutory provisions for indemnification of directors and officers.

 
  § 721. Nonexclusivity  of  statutory  provisions  for indemnification of
           directors and officers.
    The indemnification and advancement of expenses granted  pursuant  to,
  or  provided by, this article shall not be deemed exclusive of any other
  rights to  which  a  director  or  officer  seeking  indemnification  or
  advancement  of  expenses  may  be  entitled,  whether  contained in the
  certificate of incorporation or the by-laws or, when authorized by  such
  certificate   of   incorporation   or   by-laws,  (i)  a  resolution  of
  shareholders, (ii) a resolution of  directors,  or  (iii)  an  agreement
  providing for such indemnification, provided that no indemnification may
  be  made  to  or  on  behalf of any director or officer if a judgment or
  other final adjudication adverse to the director or officer  establishes
  that  his  acts were committed in bad faith or were the result of active
  and deliberate dishonesty and were material to the cause  of  action  so
  adjudicated,  or that he personally gained in fact a financial profit or
  other advantage to which he was not legally entitled. Nothing  contained
  in  this  article  shall  affect  any rights to indemnification to which
  corporate personnel other than directors and officers may be entitled by
  contract or otherwise under law.