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Indemnification Agreement between corporation and its directors...

Indemnification Between

Name: Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.62 (212 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

Control #:

US-CC-17-158

Format:

Instant download

Description Indemnification Agreement Form Contract

17-158 17-158 . . . Indemnification Agreement between corporation and its directors and/or officers including future directors and officers containing detailed provisions relating to method for determining whether standards for indemnification or reimbursement have been met and making corporation responsible for all costs of determining whether a person is entitled to indemnification or reimbursement regardless of whether person is ultimately found to be entitled to indemnification

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Indemnification Agreement Standards FAQ

Indemnification. Indemnification is an undertaking by the company to defend the director and officer against the cost of certain claims, including legal fees, litigation awards and settlement costs.

In practice, a hold harmless and an indemnity are functionally equivalent in that both require a party to assume responsibility for losses incurred by another party in connection with certain acts and circumstances. Some argue that while an indemnity shifts losses, a hold harmless shifts both losses and liability.

What does "Corporate Indemnification" mean?In the context of business organizations, a limited liability company or corporation will often indemnify its officers and directors, covering their expenses (including legal fees) and judgment amounts incurred by such persons as a result of their service to the entity.

It's still your business decision whether you sign them or not, but you should do so only where it is a critical contract that you have no way of modifying or negotiating changes. In contrast, the best kind of Indemnity Agreement is commonly called a Mutual Indemnity Agreement or a Mutual Hold Harmless Provision.

To indemnify means to compensate someone for his/her harm or loss. In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.

Indemnity is a comprehensive form of insurance compensation for damages or loss.Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party.

A company can indemnify its directors against personal liability so long as the indemnity does not cover:other liabilities (such as legal costs) in criminal cases where the director is convicted, or in civil cases brought by the company where the final judgment goes against the director.

The main difference in this case is that hold harmless may require a party to protect against actual losses as well as potential losses while indemnification protects against actual losses only.

Indemnification Between

Description Indemnification Agreement Form Contract

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How to fill out Indemnification Between Sample?

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Indemnification Agreement Directors Form Rating

Indemnification Regarding Form popularity

Indemnification Agreement Regarding Sample Other Form Names

Indemnification Agreement Standards FAQ

What is indemnification agreement for directors and officers?

Is hold harmless the same as indemnity?

What is corporate indemnification?

Should I sign an indemnity agreement?

What is the purpose of indemnification?

What does indemnity agreement mean?

Can a company indemnify its directors?

What is the difference between a hold harmless agreement and an indemnity agreement?

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