17-197C 17-197C . . . Indemnification Agreement to be entered into between corporation and its current and future directors and such current and future officers and other agents as directors may designate. The proposal includes description of procedural and substantive matters in Indemnification Agreements that are not addressed, or are addressed in less detail, in California law
Texas Indemnification Agreement between corporation and its current and future directors
Category:
State:
Multi-State
Control #:
US-CC-17-197C
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Indemnification Agreement Between Corporation And Its Current And Future Directors?
US Legal Forms - one of many largest libraries of legitimate types in the USA - gives a variety of legitimate record layouts you are able to acquire or produce. While using website, you can get 1000s of types for organization and specific reasons, categorized by classes, says, or keywords.You will discover the most recent variations of types much like the Texas Indemnification Agreement between corporation and its current and future directors within minutes.
If you have a monthly subscription, log in and acquire Texas Indemnification Agreement between corporation and its current and future directors from your US Legal Forms collection. The Obtain button can look on each form you see. You have access to all previously saved types in the My Forms tab of your respective profile.
In order to use US Legal Forms the first time, listed here are simple instructions to help you began:
- Make sure you have picked the proper form for your area/state. Click the Review button to check the form`s content material. Look at the form outline to ensure that you have selected the correct form.
- In case the form doesn`t suit your demands, utilize the Search field near the top of the screen to obtain the the one that does.
- When you are happy with the shape, verify your choice by visiting the Buy now button. Then, select the prices prepare you favor and supply your accreditations to register to have an profile.
- Process the purchase. Utilize your credit card or PayPal profile to complete the purchase.
- Pick the structure and acquire the shape in your gadget.
- Make modifications. Load, edit and produce and sign the saved Texas Indemnification Agreement between corporation and its current and future directors.
Each and every format you included in your bank account lacks an expiry particular date and is yours for a long time. So, if you wish to acquire or produce one more version, just check out the My Forms area and then click on the form you will need.
Obtain access to the Texas Indemnification Agreement between corporation and its current and future directors with US Legal Forms, by far the most comprehensive collection of legitimate record layouts. Use 1000s of specialist and status-particular layouts that meet up with your business or specific requires and demands.
Form popularity
FAQ
Now, in Texas, a party can, by contract, provide for indemnity for one's sole negligence, concurrent negligence or comparative negligence so long as that intent is properly set forth within the agreement.
Texas Insurance Code § 151.102 and Indemnity in Texas Indemnity clauses are contractual provisions that commit one party to compensate the other for losses arising out of a commercial contract.
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.
Indemnification clauses are exceedingly common in many contracts, but what you should pay close attention to is the scope of your indemnification agreement. Generally, you should only agree to pay for losses arising from your own actions and not the other party's actions.
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.
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 ...
In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.
What Is an Indemnification Clause? An indemnification clause is a legally binding agreement between two parties specifying that one party (the indemnifying party) will compensate the other party (the indemnified party) for any losses or damages that may arise from a particular event or circumstance.