Indemnification of directors, officers, and employees. The corporation may indemnify a director, officer or employee under the provisions of Section 7237 of the Corporation Code, or pursuant to any contract entered into with any employee who is not an officer or Director. Expenses incurred in defending any proceeding may be advanced by the corporation as authorized in Section 7237 of the Corporation Code prior to the final disposition of such proceeding, upon receipt of an undertaking by or on behalf of the Director, officer or employee entitled to be indemnified. The corporation may purchase and maintain insurance on behalf of any director, officer or employee of the corporation against any liability asserted against or incurred by the director, officer or employee in such capacity or arising out of the Director's, officer's or employee's status as such, whether or not the corporation would have the power to indemnify the Director, officer or employee against such liability under the provisions of Section 7237 of the Corporations Code. next