California Form of Indemnity Agreement by Financial Corporation of Santa Barbara

• Category: Corporations - Public - Indemnification
• State: Multi-State
• Control #: US-CC-17-104M
• Format: Word; Rich Text

Description

17-104M 17-104M . . . Indemnification Agreement authorizing (a) corporation to enter into Indemnity Agreements with each of its directors and officers and directors and officers of its first-tier subsidiaries and (b) establishment of Directors and Officers Indemnity Trust to (i) provide source of funds to secure corporation's obligations under Indemnity Agreements authorized under (a) above to directors and officers of corporation and its first-tier subsidiaries and (ii) advance expenses incurred by them in defense of actions, claims and proceedings against them relating to actions taken in their capacities as directors or officers Keywords: California Form of Indemnity Agreement, Financial Corporation of Santa Barbara, detailed description, types The California Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legal document that establishes a contractual relationship between two parties, outlining the terms and conditions of indemnification. This indemnity agreement is designed by the Financial Corporation of Santa Barbara, a respected financial institution operating in the state of California. It serves as a means to protect the interests of the corporation in various business transactions and agreements. The California Form of Indemnity Agreement is a comprehensive document that covers a wide range of scenarios, including but not limited to: 1. General Indemnity Agreement: This type of indemnity agreement provides a broad scope of protection to the Financial Corporation of Santa Barbara, safeguarding it against any losses, damages, claims, or liabilities arising from the actions or omissions of the other involved party. 2. Contract-specific Indemnity Agreement: This variant of the agreement is tailored to specific contracts or business transactions. It outlines the terms of indemnification, indicating the responsibilities of each party in case of losses, damages, or liabilities resulting from their actions in relation to the contract. 3. Employee Indemnity Agreement: Financial Corporation of Santa Barbara may require certain employees to sign an indemnity agreement, ensuring that any actions or omissions by the employee that lead to legal claims or disputes will be indemnified by the corporation. The California Form of Indemnity Agreement includes important clauses such as: a. Indemnification Scope: This clause establishes the extent of indemnification provided by Financial Corporation of Santa Barbara, ensuring that they are protected against all foreseeable and unforeseeable circumstances. b. Notice and Defense: It outlines the requirements and procedures for notifying the corporation in case of a potential indemnity claim and specifies the corporation's rights to participate in the defense or settlement of any claim. c. Limitation of Liability: This clause sets limits on the financial responsibility of the Financial Corporation of Santa Barbara, protecting it from excessive or unjustifiable indemnification claims. d. Governing Law: The agreement specifies that it is governed by the laws of the state of California, thereby ensuring that any disputes or legal proceedings will be resolved according to California laws. It is important to note that the exact content and provisions of the California Form of Indemnity Agreement may vary depending on the specific circumstances, contractual agreements, and legal requirements applicable to the Financial Corporation of Santa Barbara. Disclaimer: This is a general description of the California Form of Indemnity Agreement by Financial Corporation of Santa Barbara and should not be construed as legal advice. It is recommended to consult with a qualified attorney for specific legal guidance.

Keywords: California Form of Indemnity Agreement, Financial Corporation of Santa Barbara, detailed description, types The California Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legal document that establishes a contractual relationship between two parties, outlining the terms and conditions of indemnification. This indemnity agreement is designed by the Financial Corporation of Santa Barbara, a respected financial institution operating in the state of California. It serves as a means to protect the interests of the corporation in various business transactions and agreements. The California Form of Indemnity Agreement is a comprehensive document that covers a wide range of scenarios, including but not limited to: 1. General Indemnity Agreement: This type of indemnity agreement provides a broad scope of protection to the Financial Corporation of Santa Barbara, safeguarding it against any losses, damages, claims, or liabilities arising from the actions or omissions of the other involved party. 2. Contract-specific Indemnity Agreement: This variant of the agreement is tailored to specific contracts or business transactions. It outlines the terms of indemnification, indicating the responsibilities of each party in case of losses, damages, or liabilities resulting from their actions in relation to the contract. 3. Employee Indemnity Agreement: Financial Corporation of Santa Barbara may require certain employees to sign an indemnity agreement, ensuring that any actions or omissions by the employee that lead to legal claims or disputes will be indemnified by the corporation. The California Form of Indemnity Agreement includes important clauses such as: a. Indemnification Scope: This clause establishes the extent of indemnification provided by Financial Corporation of Santa Barbara, ensuring that they are protected against all foreseeable and unforeseeable circumstances. b. Notice and Defense: It outlines the requirements and procedures for notifying the corporation in case of a potential indemnity claim and specifies the corporation's rights to participate in the defense or settlement of any claim. c. Limitation of Liability: This clause sets limits on the financial responsibility of the Financial Corporation of Santa Barbara, protecting it from excessive or unjustifiable indemnification claims. d. Governing Law: The agreement specifies that it is governed by the laws of the state of California, thereby ensuring that any disputes or legal proceedings will be resolved according to California laws. It is important to note that the exact content and provisions of the California Form of Indemnity Agreement may vary depending on the specific circumstances, contractual agreements, and legal requirements applicable to the Financial Corporation of Santa Barbara. Disclaimer: This is a general description of the California Form of Indemnity Agreement by Financial Corporation of Santa Barbara and should not be construed as legal advice. It is recommended to consult with a qualified attorney for specific legal guidance.