Can a director be indemnified?

Many company constitutions set out rights of indemnity for directors, and often also include provision for directors and officers (D&O) insurance. Alternatively, they may simply provide that the company may indemnify directors. The deed of indemnity is an agreement between the company and a director.

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Indemnity Agreement between corporation and directors and / or...

South Dakota Indemnity Agreement between corporation and directors and / or officers

Name: South Dakota Indemnity Agreement between corporation and directors and / or officers
Brand: US Legal Forms
Rating: 4.86 (233 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

Control #:

US-CC-17-171

Format:

Instant download

Description

This sample form, a detailed Indemnity Agreement, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.

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Many company constitutions set out rights of indemnity for directors, and often also include provision for directors and officers (D&O) insurance. Alternatively, they may simply provide that the company may indemnify directors. The deed of indemnity is an agreement between the company and a director.

A company may, however, lend money to a director to fund the director's defence costs. Frequently, an indemnity will include a provision under which the company agrees to lend the director the amounts necessary to fund the director's defence costs.

Indemnification is often very broad, often extending ?to the maximum extent permitted by law?, whereas D&O insurance polices contain numerous exclusions and conditions. In addition, D&O insurance must be renewed each year, with possible changes in terms and conditions.

Indemnification refers to the right to have a company reimburse current or former directors or officers for all losses, including legal fees, incurred in connection with litigation arising from actions taken in service to the company or at the company's direction.

Section 145(b) empowers a corporation to indemnify its directors against expenses incurred in connection with the defense or settlement of an action brought by or in the right of the corporation, subject to the standard of conduct determination, and except that no indemnification may be made as to any claim to which ...

A director and officer indemnification agreement is a contract that allows executives to protect themselves from claims made against them while performing job. Indemnification means that in the event a lawsuit is filed against a company, the indemnified party is "held harmless" from claims.

Insurance ? The indemnification agreement typically will require that the company provide D&O liability insurance that protects the indemnitee to the same extent as the most favorably insured of the company's and its affiliates' current directors and officers.

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The Consultant agrees to indemnify and hold the State of South Dakota, its officers, agents and employees, harmless from and against any and all actions, suits,. (1) One or more officers or employees of the corporation whom the director ... The board of directors may elect individuals to fill one or more offices of the ...The Indemnitee agrees to serve and/or continue to serve as an agent of the Company, at its will (or under separate agreement, if such agreement exists), in the ... Indemnification of officers, directors, or employees. A bank may indemnify ... Vacancies may be filled by appointment of successors by the board of directors ... A corporation, its board of directors; b. A limited liability company, its board of governors; or c. Any other organization, the body selected by its owners ... 1357, 1359 (1991) (Examining Florida's statutory history of mandatory and permissive corporate obligations to indemnify officers, directors or employees for. Click on the form fields and type, tab to the next field. Click on the check boxes to mark or unmark them. Print the form and mail it. You may print the form ... The Contractor agrees to provide transportation and mentoring services to the houseless community in crisis throughout the City limits of Rapid City, SD. Apr 17, 2023 — Effective January 1, 2021, as part of the restructuring of the Intercompany Pooling. Agreement, ownership of the Company and its wholly-owned ... Agree that any student driving their own vehicle is solely responsible for their own negligence and that South Dakota State. University and/or the South Dakota ...

South Dakota Indemnity Agreement between corporation and directors and / or officers

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How to fill out South Dakota Indemnity Agreement Between Corporation And Directors And / Or Officers?

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FAQ

Can a director be indemnified?

What is the indemnity provision for directors?

What is the difference between D&O insurance and indemnification?

What does indemnification of directors mean?

Can a company indemnify its directors?

What is the director's indemnity clause?

What is indemnification agreement for directors and officers?

Interesting Questions

What is an indemnity agreement?

Who is covered under an indemnity agreement?

What types of situations does an indemnity agreement protect against?

Can a director or officer be indemnified for intentional misconduct?

What expenses are covered under an indemnity agreement?

Do all corporations provide indemnity agreements to their directors and officers?

Can an indemnity agreement be modified or terminated?

Are there any legal requirements for an indemnity agreement?

What if a director or officer is not covered by an indemnity agreement?

Can indemnification affect liability insurance coverage?

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