District of Columbia Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met

• Category: Corporations - Public - Indemnification
• State: Multi-State
• Control #: US-CC-17-158
• Format: Word; Rich Text

Description

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 Description: A District of Columbia Indemnification Agreement is a legal contract between a corporation and its directors regarding the process of determining whether the standards for indemnification have been met. This agreement ensures that directors are protected and reimbursed for any legal expenses, liabilities, or damages incurred while acting in their capacity as a director. The terms of the Indemnification Agreement outline the method through which the corporation will evaluate and decide whether a director is eligible to be indemnified. This comprehensive evaluation takes into consideration various factors, such as the nature of the director's actions, the type of claim or proceeding, and relevant legal standards. The agreement establishes clear guidelines for the corporation and its directors to follow in order to assess whether the standards for indemnification have been met. Keywords: District of Columbia, Indemnification Agreement, corporation, directors, determining method, standards, indemnification, legal expenses, liabilities, damages, eligible, evaluation, nature of actions, type of claim or proceeding, legal standards, guidelines, assess. Different types of District of Columbia Indemnification Agreements regarding the method for determining whether the standards for indemnification have been met can include: 1. Standard Indemnification Agreement: This is a typical agreement that outlines the standard criteria and process for evaluating director eligibility for indemnification. It incorporates the aforementioned keywords. 2. Advanced Indemnification Agreement: Some corporations may have a more comprehensive and detailed agreement that provides additional criteria, requirements, or conditions for directors to meet in order to be indemnified. This type of agreement may involve higher standards or more specific evaluation methods. It is important to note that specific variations or alternative types of District of Columbia Indemnification Agreements can exist depending on the corporation's unique circumstances or legal requirements.

Description: A District of Columbia Indemnification Agreement is a legal contract between a corporation and its directors regarding the process of determining whether the standards for indemnification have been met. This agreement ensures that directors are protected and reimbursed for any legal expenses, liabilities, or damages incurred while acting in their capacity as a director. The terms of the Indemnification Agreement outline the method through which the corporation will evaluate and decide whether a director is eligible to be indemnified. This comprehensive evaluation takes into consideration various factors, such as the nature of the director's actions, the type of claim or proceeding, and relevant legal standards. The agreement establishes clear guidelines for the corporation and its directors to follow in order to assess whether the standards for indemnification have been met. Keywords: District of Columbia, Indemnification Agreement, corporation, directors, determining method, standards, indemnification, legal expenses, liabilities, damages, eligible, evaluation, nature of actions, type of claim or proceeding, legal standards, guidelines, assess. Different types of District of Columbia Indemnification Agreements regarding the method for determining whether the standards for indemnification have been met can include: 1. Standard Indemnification Agreement: This is a typical agreement that outlines the standard criteria and process for evaluating director eligibility for indemnification. It incorporates the aforementioned keywords. 2. Advanced Indemnification Agreement: Some corporations may have a more comprehensive and detailed agreement that provides additional criteria, requirements, or conditions for directors to meet in order to be indemnified. This type of agreement may involve higher standards or more specific evaluation methods. It is important to note that specific variations or alternative types of District of Columbia Indemnification Agreements can exist depending on the corporation's unique circumstances or legal requirements.