This excerpt taken from the LAVA 8-K filed Dec 24, 2008.
On December 23, 2008, the Board of Directors of Magma Design Automation, Inc. (Magma) approved a new form of indemnification agreement (the Indemnification Agreement) to be entered into with Magmas current and future directors and officers as well as current and future employees and agents as Magma shall determine.
The new form of Indemnification Agreement will replace the form of indemnification agreement currently in place with each of the officers and directors of Magma and provides, among other things, that Magma will indemnify the director and officer (or employee or agent) (the Indemnitee), under the circumstances and to the extent provided for therein, to the fullest extent permitted by law for claims by reason of any event or occurrence related to the fact that the Indemnitee is or was a director or officer of Magma, or any subsidiary of Magma, or is or was serving at the request of Magma as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action or inaction on the part of the Indemnitee while serving in such capacity against any and all expenses, losses, claims, damages, liabilities, judgments, fines, penalties and amounts paid in settlement of such claim. Under the Indemnification Agreement, Magma agrees to indemnify the Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification is not specifically authorized by the other provisions of the Indemnification Agreement, Magmas Certificate of Incorporation, Magmas Bylaws or by statute. The indemnification provided by this Indemnification Agreement shall be in addition to any rights to which the Indemnitee may be entitled under Magmas Certificate of Incorporation, its Bylaws, any agreement (except agreements pursuant to which Magma has indemnified Indemnitee), any vote of stockholders or disinterested directors, the General Corporation Law of the State of Delaware, or otherwise.