here by UNDERTAKE and
AGREE to indemnify and hold harmless Panama Offshore Legal Services, Panama
Offshore Services International Inc., their affiliated management companies
and their respective owners, agents, servants and employees (here forward
the "FIRM"), and to keep them indemnified and held harmless, from
any and all actions, suits, proceedings, claims, demands, costs and expenses
whatsoever (whether in contract or in tort) which may be made or taken against
them or any of them, in respect of them or any of them taking any action,
or failing to take any action, with respect to the formation, incorporation
and/or administration of, or otherwise in connection with, the ENTITY formed
and/or administered by the FIRM on my behalf.
I, the CLIENT, agree that these obligations shall be binding upon my executors,
administrators and successors in title. I further agree that this Indemnity
Agreement shall be subject only to, and interpreted only under, the laws of
Republic of Panama, and that any and all legal proceedings relating there
to shall be subject to the exclusive jurisdiction of the courts of Panama,
and that no proceedings shall be instituted in the courts of any other jurisdiction
with respect here to.
Signed this
day of
.