This is a due diligence contract provision that a company will provide reimbursement for any losses that the director may incur in business transactions.
North Dakota Director Favorable Director Indemnification Agreement
Category:
State:
Multi-State
Control #:
US-DD0603
Format:
Word;
PDF;
Rich Text
Instant download
Description
Free preview
How to fill out North Dakota Director Favorable Director Indemnification Agreement?
US Legal Forms - one of many largest libraries of lawful forms in America - delivers a wide range of lawful papers templates you are able to acquire or print. Making use of the web site, you may get a huge number of forms for organization and specific purposes, categorized by categories, claims, or key phrases.You will find the latest versions of forms just like the North Dakota Director Favorable Director Indemnification Agreement within minutes.
If you already have a membership, log in and acquire North Dakota Director Favorable Director Indemnification Agreement from your US Legal Forms local library. The Download option will appear on every develop you look at. You gain access to all previously acquired forms inside the My Forms tab of the account.
If you wish to use US Legal Forms the first time, allow me to share simple instructions to obtain began:
- Ensure you have chosen the right develop for your city/area. Go through the Review option to check the form`s content. See the develop information to ensure that you have chosen the proper develop.
- If the develop doesn`t fit your specifications, make use of the Research discipline on top of the screen to find the one who does.
- Should you be pleased with the form, affirm your option by visiting the Acquire now option. Then, select the prices prepare you want and provide your references to sign up for an account.
- Approach the purchase. Use your charge card or PayPal account to finish the purchase.
- Pick the format and acquire the form on the gadget.
- Make alterations. Fill out, change and print and sign the acquired North Dakota Director Favorable Director Indemnification Agreement.
Each format you included in your account does not have an expiration time and is your own eternally. So, in order to acquire or print another backup, just go to the My Forms area and then click on the develop you require.
Gain access to the North Dakota Director Favorable Director Indemnification Agreement with US Legal Forms, one of the most comprehensive local library of lawful papers templates. Use a huge number of expert and express-specific templates that fulfill your organization or specific demands and specifications.
Form popularity
FAQ
Indemnification is a legal agreement by one party to hold another party blameless not liable for potential losses or damages.
Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.
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.
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
A director's or officer's right to indemnification and advancement of expenses is subject to the company's ability to pay, and several legal limitations. Bankruptcy Law Limits. Claims against directors and officers more frequently occur when the company is under financial distress that leads to bankruptcy.
Companies may indemnify directors against the legal and financial costs of proceedings brought by third parties.
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
Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.
Further, in light of the recent amendments to Section 145, only certain officers are entitled to mandatory indemnification of expenses as a matter of law when they are successful on the merits; an indemnification agreement allows a director or officer to secure such rights in the absence of express statutory coverage.
More info
Nuveen Advisory Corp., 186 F.R.D. 486 (N.D. Ill. 1999).Such an agreement may be desirable because it gives the directors an additional. orchestrating this transaction, Defendants (both the Directors andthe Directors' indemnification agreement appears to be more favorable.By W Effross · 1993 · Cited by 26 ? law of indemnification, now supplanted by statute, required directors to raise a successful defense). 30 Id. 902. Vol. 7. Page 8 ... Indemnification set forth in Section 3 of this Agreement. The Director may contest a determination that he or she is not entitled to indemnification by ... The director may enter an agreement for the use of the motor vehicle- related equipment with the North Dakota museum of art established in section 54-02-11. By ME Barrett · Cited by 10 ? Most state general corporation statutes permit a corporation to indemnify its directors, officers, employees, and agents for expenses incurred in defend-. IMPORTANT INDEMNIFICATION RIGHTS CREATED BY THE PLAIN. LANGUAGE OF FLA. STAT.CORPORATION AND ITS DIRECTORS AND IS CONTRARY TOnd. DCA 1989) . By JP Monteleone · 1996 · Cited by 88 ? (CCH) 1 302 (N.D. Ohio Sept. 29, 1 978) (determining an agency relationship only existed between the application signatory and the corporation, but not with ... An indemnification bylaw as a form of ?contract? between the corporation and its officers, directors and employees; Pope v. Crandall, 1994 WL 55731 (N.D.Ill ... Delaware, home to more than half of the nation's largest public companies,a slate of directors and seek reimbursement for proxy expenses.