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.

What is an example of indemnity contract?

For example, A promises to deliver certain goods to B for Rs. 2,000 every month. C comes in and promises to indemnify B's losses if A fails to so deliver the goods. This is how B and C will enter into contractual obligations of indemnity.

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Indemnification Agreement between Corporation and Its Directors and...

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

Name: Pima Arizona 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:

Pima

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 Pima Arizona Indemnification Agreement Between Corporation And Its Directors And Non-Director Officers At Vice President Level And Above?

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FAQ

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.

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.

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

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).

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.

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.

For example, A promises to deliver certain goods to B for Rs. 2,000 every month. C comes in and promises to indemnify B's losses if A fails to so deliver the goods. This is how B and C will enter into contractual obligations of indemnity.

To indemnify means to compensate someone for his/her harm or loss. 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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ENGINEERING SERVICES CONTRACT NO. 2022-042-COS BETWEEN THE. (A Corporation chartered under the laws of the United States).The certifications of the Company's principal executive officer and principal financial officer are attached to this Amendment No. Borrowings under the Loan Agreement may consist of up to two separate term loans. We borrowed the initial term loan in the principal amount of. ENGINEERING SERVICES CONTRACT NO. 2022-042-COS BETWEEN THE. (A Corporation chartered under the laws of the United States). The certifications of the Company's principal executive officer and principal financial officer are attached to this Amendment No. Borrowings under the Loan Agreement may consist of up to two separate term loans. We borrowed the initial term loan in the principal amount of.

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

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What is a corporate indemnification agreement?

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