What is a corporate indemnity agreement?

An indemnity agreement is a contract that 'holds a business or company harmless' for any burden, loss, or damage. An indemnity agreement also ensures proper compensation is available for such loss or damage.

What is the purpose of an indemnification agreement?

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.

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Indemnification Agreement between Corporation and Its Directors and...

Hillsborough Florida Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above

Name: Hillsborough Florida Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above
Brand: US Legal Forms
Rating: 4.79 (235 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Hillsborough

Control #:

US-CC-17-102E

Format:

Instant download

Description

17-102E 17-102E . . . Indemnification Agreements between corporation and its directors and non-director officers at level of Vice President and above. The proposal states that Board anticipates that, if these Indemnification Agreements are ratified and approved, corporation may enter into similar Indemnification Agreements with new directors and non-director officers at same levels without seeking stockholder approval or ratification and that stockholder who votes in favor of ratification and approval sought herein may be estopped from making a claim that such future agreements are invalid

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How to fill out Hillsborough Florida Indemnification Agreement Between Corporation And Its Directors And Non-Director Officers At Vice President Level And Above?

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An indemnity agreement is a contract that 'holds a business or company harmless' for any burden, loss, or damage. An indemnity agreement also ensures proper compensation is available for such loss or damage.

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 does "Corporate Indemnification" mean? Generally, indemnification refers to a situation in which one party (the indemnifying party) agrees or is required to cover the costs, losses and/or expenses experienced by another party (the indemnified party).

At their core, indemnification provisions transfer liabilities related to a claim from one party to another party, generally in the event of a breach of contract or a party's negligence or misconduct in the performance of the agreement.

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

Modification: As opposed to indemnification and advancement rights created by the company's organizational documents, which may be amended by the board or shareholders, indemnification agreements allow the director or officer to prevent the company from unilaterally terminating or reducing the indemnitee's rights.

There are three levels of indemnification broad, intermediate and limited form: Broad Form Indemnity.Intermediate Form Indemnity.Limited Form Indemnity.Validity of Indemnity Provisions.State-by-State Case.Operations in Multiple States.Insurance Considerations.

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.

Indemnification. Indemnification is an undertaking by the company to defend the director and officer against the cost of certain claims, including legal fees, litigation awards and settlement costs.

Court will not enforce an indemnification provision that indemnifies an indemnitee for its own negligence unless the intention of the parties is clearly and unambiguously expressed. Courts first look for specific language in the contract that address the fault or negligence of the indemnitee.

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In a number of markets the Company's PPOs contract with physicians who have not. Contracted with its HMOs.Responsibilities of an Owner. The membership rights of an Owner that is not an individual (e.g. A "non-exclusivity" statute empowers the corporation to use charter provisions or contracts to provide its officers and directors with additional. (a) Approving an interlocal agreement between the City of St. Petersburg, Florida, and.

Hillsborough Florida Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above

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FAQ

What is a corporate indemnity agreement?

What is the purpose of an indemnification agreement?

What is a corporate indemnification agreement?

Is indemnification a breach of contract?

What is indemnification agreement?

What is a director indemnification agreement?

What are the types of indemnification agreements?

Are indemnification agreements enforceable?

What is indemnification agreement for directors and officers?

Do indemnity clauses hold up in court?

Interesting Questions

What is the purpose of the Hillsborough Indemnification Agreement?

Who is covered under the Hillsborough Indemnification Agreement?

What type of legal actions or claims does the Hillsborough Indemnification Agreement provide indemnification for?

What does indemnification mean?

Do directors and non-director officers have to pay for the indemnification provided under the Hillsborough Indemnification Agreement?

What should directors and non-director officers do if they are facing a legal action or claim covered under the Hillsborough Indemnification Agreement?

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