What is the purpose of an indemnification agreement?

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

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Director Favorable Director Indemnification Agreement

Arkansas Director Favorable Director Indemnification Agreement

Name: Arkansas Director Favorable Director Indemnification Agreement
Brand: US Legal Forms
Rating: 4.63 (380 reviews)

Category:

Corporations - Due Diligence

State:

Multi-State

Control #:

US-DD0603

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Instant download

Description

This is a due diligence contract provision that a company will provide reimbursement for any losses that the director may incur in business transactions.

How to fill out Arkansas Director Favorable Director Indemnification Agreement?

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Subject to the exceptions mentioned below, the Companies Law prohibits a company and its subsidiaries from exempting any director from, or indemnifying any director against, any liability incurred by the director as a result of the director acting as a director of the company.

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

Indemnification under Companies Act, 2013: While Section 201 of the erstwhile Companies Act, 1956 had restricted a company from indemnifying the directors of the company, the Companies Act, 2013 does not have any such restriction and therefore, directors can now be indemnified by companies against liabilities.

Any UK company can now indemnify any of its directors, and any director of a company in the same group, against damages, costs and interest awarded against him in civil proceedings brought by a third party, and against legal and other costs incurred in defending both civil and criminal proceedings if and when the

If not supplied in the governing documents (or in addition to such provisions), directors and officers may also secure indemnification rights through contract. For LLCs and other alternative entities, the discretion to provide or withhold indemnification is even broader.

An indemnity agreement is a contract that protect one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement.200c

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.

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.

Indemnification is a legal agreement by one party to hold another party blameless not liable for potential losses or damages.

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The Corporation may have such other offices, either within or without the State of Arkansas, as the Board of Directors (herein,?Board?) may designate or as ... A substantial uptick in securities litigation and an increased regulatory enforcement focus have put directors and officers squarely in the ...By W Effross · 1993 · Cited by 26 ? sidering whether to serve as a director or officer of a corporation .holder resolution or an indemnification agreement or contract.84. 2010 Arkansas Code Title 4 - Business and Commercial Law Subtitle 3 - Corporations And Associations Chapter 26 - Business Corporations Generally Subchapter 8 - ... Director Indemnification Agreement -- Form: Learn more about this contract and other key contractual terms and issues by viewing the many sample contracts ... Practice on Directors and Officers Liability Insurance,corporation on a separate indemnification agreement that details indemnification. On February 14, 2022, the board of directors (?Board?) of Simmons First NationalThe registered office of the Corporation required by the Arkansas ... More than four years after the financial crisis, exposure to investigations and lawsuits remains real for individuals serving as directors ... (herein called the ?Insurer?). DIRECTORS, OFFICERS AND CORPORATE LIABILITY/GENERAL PARTNERS AND PRIVATE LIMITED PARTNERSHIP. INSURANCE APPLICATION. The Board of Directors of Yellow has fixed the close of business on Octoberfavorable to Roadway stockholders than the terms of the merger agreement and ...

Arkansas Director Favorable Director Indemnification Agreement

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How to fill out Arkansas Director Favorable Director Indemnification Agreement?

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