Maine 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 Maine Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legal document that outlines the terms and conditions of indemnification provided by Financial Corporation of Santa Barbara to its partners or individuals associated with the company. This agreement aims to protect the indemnity from potential losses, damages, liabilities, or legal expenses incurred while carrying out their responsibilities on behalf of the corporation. The Maine Form of Indemnity Agreement by Financial Corporation of Santa Barbara typically includes the following key provisions: 1. Parties involved: The agreement specifies the names of the indemnity, who is the individual or entity being indemnified, and Financial Corporation of Santa Barbara, also referred to as the indemnity. 2. Scope of indemnification: This section defines the extent of the indemnification and the types of claims or losses covered. It usually includes indemnity for legal actions, judgments, settlements, fines, or expenses related to lawsuits, investigations, or regulatory proceedings arising out of the indemnity's actions within the scope of their duties. 3. Limitations: The agreement may outline any limitations on the indemnification, such as exclusions for intentional misconduct or violations of law by the indemnity. 4. Process for indemnification: It details the procedure for filing a claim, including the necessary documentation and notification requirements. The agreement may also specify the timeline for the indemnity to respond and the process for resolving disputes related to indemnification claims. 5. Advancement of expenses: The agreement may include provisions for the advancement of legal expenses, such as attorney fees and court costs, to the indemnity during the legal proceedings. This provision ensures that the indemnity has the necessary resources to defend themselves without bearing the financial burden upfront. Some different types or variations of the Maine Form of Indemnity Agreement by Financial Corporation of Santa Barbara may include specific agreements tailored to different categories of indemnities. For instance: 1. Employee Indemnity Agreement: This agreement is designed to protect employees of Financial Corporation of Santa Barbara, ensuring they are indemnified for actions taken within the course of their employment. 2. Director and Officer Indemnity Agreement: This agreement specifically covers the directors and officers of Financial Corporation of Santa Barbara, safeguarding them from legal and financial liabilities arising from their roles and responsibilities. 3. Vendor/Contractor Indemnity Agreement: Financial Corporation of Santa Barbara may also have indemnity agreements with its vendors or contractors, providing protection for both parties against potential losses or claims arising from their business relationship. Overall, the Maine Form of Indemnity Agreement by Financial Corporation of Santa Barbara serves as an important legal instrument to outline the terms of indemnification, helping to safeguard the indemnity from potential financial and legal risks associated with their role within the corporation.

Maine Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legal document that outlines the terms and conditions of indemnification provided by Financial Corporation of Santa Barbara to its partners or individuals associated with the company. This agreement aims to protect the indemnity from potential losses, damages, liabilities, or legal expenses incurred while carrying out their responsibilities on behalf of the corporation. The Maine Form of Indemnity Agreement by Financial Corporation of Santa Barbara typically includes the following key provisions: 1. Parties involved: The agreement specifies the names of the indemnity, who is the individual or entity being indemnified, and Financial Corporation of Santa Barbara, also referred to as the indemnity. 2. Scope of indemnification: This section defines the extent of the indemnification and the types of claims or losses covered. It usually includes indemnity for legal actions, judgments, settlements, fines, or expenses related to lawsuits, investigations, or regulatory proceedings arising out of the indemnity's actions within the scope of their duties. 3. Limitations: The agreement may outline any limitations on the indemnification, such as exclusions for intentional misconduct or violations of law by the indemnity. 4. Process for indemnification: It details the procedure for filing a claim, including the necessary documentation and notification requirements. The agreement may also specify the timeline for the indemnity to respond and the process for resolving disputes related to indemnification claims. 5. Advancement of expenses: The agreement may include provisions for the advancement of legal expenses, such as attorney fees and court costs, to the indemnity during the legal proceedings. This provision ensures that the indemnity has the necessary resources to defend themselves without bearing the financial burden upfront. Some different types or variations of the Maine Form of Indemnity Agreement by Financial Corporation of Santa Barbara may include specific agreements tailored to different categories of indemnities. For instance: 1. Employee Indemnity Agreement: This agreement is designed to protect employees of Financial Corporation of Santa Barbara, ensuring they are indemnified for actions taken within the course of their employment. 2. Director and Officer Indemnity Agreement: This agreement specifically covers the directors and officers of Financial Corporation of Santa Barbara, safeguarding them from legal and financial liabilities arising from their roles and responsibilities. 3. Vendor/Contractor Indemnity Agreement: Financial Corporation of Santa Barbara may also have indemnity agreements with its vendors or contractors, providing protection for both parties against potential losses or claims arising from their business relationship. Overall, the Maine Form of Indemnity Agreement by Financial Corporation of Santa Barbara serves as an important legal instrument to outline the terms of indemnification, helping to safeguard the indemnity from potential financial and legal risks associated with their role within the corporation.