• US Legal Forms

North Carolina Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met

State:
Multi-State
Control #:
US-CC-17-158
Format:
Word; 
Rich Text
Instant download

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 The North Carolina Indemnification Agreement is a legal document that outlines the terms and conditions for indemnifying the directors of a corporation in the state of North Carolina. This agreement provides important protection to the corporation's directors in the event of a legal action or lawsuit against them. The agreement sets forth the method for determining whether the standards for indemnification have been met. It establishes a clear process that must be followed before indemnification can be granted. This includes a thorough review of the director's actions and decisions regarding their role within the corporation. Keywords: North Carolina, Indemnification Agreement, corporation, directors, method, determining, standards, indemnification, legal action, lawsuit, protection, terms, conditions, review, actions, decisions, role. There are two main types of North Carolina Indemnification Agreements commonly used between corporations and their directors: 1. Indemnification Agreement — Non-Exculpatory Clause: This type of agreement provides indemnification to the directors, but it does not include an exculpatory clause. An exculpatory clause would absolve the directors of liability for certain actions or decisions. In this agreement, the determination of whether the standards for indemnification have been met is done by evaluating the director's actions and decisions, taking into consideration the appropriate standards, laws, and regulations. 2. Indemnification Agreement — Exculpatory Clause: In this type of agreement, an exculpatory clause is included, which provides broader protection to the directors. The exculpatory clause limits the liability of the directors for any actions or decisions made in good faith and within the scope of their duties. Under this agreement, the determination of whether the standards for indemnification have been met is similar to the non-exculpatory clause, considering the director's actions and decisions in compliance with relevant standards, laws, and regulations. Both types of agreements aim to safeguard the directors and ensure they are protected from personal financial burdens resulting from legal actions. The determination of whether the standards for indemnification have been met in both types is crucial for the corporation to honor its obligations and provide appropriate indemnification to the directors.

The North Carolina Indemnification Agreement is a legal document that outlines the terms and conditions for indemnifying the directors of a corporation in the state of North Carolina. This agreement provides important protection to the corporation's directors in the event of a legal action or lawsuit against them. The agreement sets forth the method for determining whether the standards for indemnification have been met. It establishes a clear process that must be followed before indemnification can be granted. This includes a thorough review of the director's actions and decisions regarding their role within the corporation. Keywords: North Carolina, Indemnification Agreement, corporation, directors, method, determining, standards, indemnification, legal action, lawsuit, protection, terms, conditions, review, actions, decisions, role. There are two main types of North Carolina Indemnification Agreements commonly used between corporations and their directors: 1. Indemnification Agreement — Non-Exculpatory Clause: This type of agreement provides indemnification to the directors, but it does not include an exculpatory clause. An exculpatory clause would absolve the directors of liability for certain actions or decisions. In this agreement, the determination of whether the standards for indemnification have been met is done by evaluating the director's actions and decisions, taking into consideration the appropriate standards, laws, and regulations. 2. Indemnification Agreement — Exculpatory Clause: In this type of agreement, an exculpatory clause is included, which provides broader protection to the directors. The exculpatory clause limits the liability of the directors for any actions or decisions made in good faith and within the scope of their duties. Under this agreement, the determination of whether the standards for indemnification have been met is similar to the non-exculpatory clause, considering the director's actions and decisions in compliance with relevant standards, laws, and regulations. Both types of agreements aim to safeguard the directors and ensure they are protected from personal financial burdens resulting from legal actions. The determination of whether the standards for indemnification have been met in both types is crucial for the corporation to honor its obligations and provide appropriate indemnification to the directors.

Free preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview

How to fill out North Carolina Indemnification Agreement Between Corporation And Its Directors Regarding Method For Determining Whether Standards For Indemnification Have Been Met?

If you want to full, down load, or print out legitimate file layouts, use US Legal Forms, the largest variety of legitimate kinds, that can be found on the Internet. Utilize the site`s simple and easy handy look for to obtain the files you need. Numerous layouts for enterprise and specific functions are categorized by groups and claims, or keywords and phrases. Use US Legal Forms to obtain the North Carolina Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met with a few click throughs.

When you are previously a US Legal Forms client, log in to your bank account and click the Download key to get the North Carolina Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met. You can even access kinds you in the past downloaded within the My Forms tab of your respective bank account.

If you work with US Legal Forms for the first time, follow the instructions under:

  • Step 1. Be sure you have chosen the form for that right area/country.
  • Step 2. Use the Preview option to look through the form`s content. Never overlook to read through the information.
  • Step 3. When you are not satisfied together with the develop, make use of the Look for area towards the top of the monitor to discover other versions of the legitimate develop web template.
  • Step 4. After you have discovered the form you need, click on the Buy now key. Pick the rates program you favor and add your references to register to have an bank account.
  • Step 5. Approach the purchase. You can use your charge card or PayPal bank account to perform the purchase.
  • Step 6. Select the structure of the legitimate develop and down load it on your product.
  • Step 7. Complete, change and print out or indication the North Carolina Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met.

Every legitimate file web template you purchase is the one you have eternally. You possess acces to every single develop you downloaded in your acccount. Click on the My Forms portion and pick a develop to print out or down load once again.

Be competitive and down load, and print out the North Carolina Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met with US Legal Forms. There are many specialist and status-distinct kinds you may use for your enterprise or specific demands.

Trusted and secure by over 3 million people of the world’s leading companies

North Carolina Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met