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.

US Legal Forms
Localized Forms
New York
Queens
Indemnification Agreement between Corporation and Its Directors and...

Queens New York Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above

Name: Queens New York 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:

Queens

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

Stockholders Agreement between Unilab Corp...

View this form

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

Draftwing forms, like Queens Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above, to take care of your legal affairs is a difficult and time-consumming task. A lot of circumstances require an attorney’s participation, which also makes this task not really affordable. Nevertheless, you can consider your legal affairs into your own hands and handle them yourself. US Legal Forms is here to the rescue. Our website features more than 85,000 legal forms crafted for different cases and life circumstances. We ensure each form is in adherence with the regulations of each state, so you don’t have to be concerned about potential legal problems associated with compliance.

If you're already familiar with our services and have a subscription with US, you know how effortless it is to get the Queens Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above form. Simply log in to your account, download the form, and customize it to your requirements. Have you lost your form? Don’t worry. You can find it in the My Forms tab in your account - on desktop or mobile.

The onboarding flow of new users is just as simple! Here’s what you need to do before getting Queens Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above:

Make sure that your document is specific to your state/county since the regulations for writing legal documents may vary from one state another.
Discover more information about the form by previewing it or reading a quick description. If the Queens Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above isn’t something you were hoping to find, then use the header to find another one.
Sign in or register an account to begin using our service and download the document.
Everything looks good on your end? Hit the Buy now button and select the subscription plan.
Select the payment gateway and enter your payment information.
Your form is good to go. You can try and download it.

It’s easy to find and purchase the needed template with US Legal Forms. Thousands of organizations and individuals are already taking advantage of our extensive collection. Subscribe to it now if you want to check what other advantages you can get with US Legal Forms!

Form Rating

4.79

Satisfied(235)

Form popularity

FAQ

Types of Indemnity Express Indemnity. An express indemnity may also refer to written indemnity.Implied Indemnity. Implied indemnity is the other type of agreement that bears an obligation for two concerned parties.Broad Indemnification.Intermediate indemnification.Limited indemnification.

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.

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.

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.

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.

Under Section 145(c) of the Delaware General Corporation Law (DGCL), Delaware corporations are required, in certain circumstances, to indemnify directors and officers of the corporation for costs incurred in connection with litigation and other proceedings arising from the official's corporate role, including attorneys

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.

A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called a contract of indemnity.

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).

Interesting Questions

More info

Also fill gaps in the underlying traditional coverage (for example, the company refuses to indemnify a director or one of the underlying insurers becomes. To provide IBM with a fair and reasonable return over the term of the Agreement.I, ADAM JENKINS, of the City of Calgary, in the Province of Alberta, SWEAR AND SAY. 7.7.6 Application of Provisions of Agreement Pertaining to Additional Lands .

Queens New York Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above

Description

Related forms

Viewed forms

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

Show more info

Form Rating

Form popularity

FAQ

What are types of indemnity?

What is the purpose of an indemnification agreement?

Do directors have the right to indemnification?

What are indemnification agreements?

What is a director indemnification agreement?

What is indemnification agreement for directors and officers?

Does Dgcl require indemnification?

What are the types of indemnification agreements?

What type of contract is a contract of indemnity?

What is a corporate indemnification agreement?

Interesting Questions

What is the purpose of the Queens Indemnification Agreement?

Who is covered under the Queens Indemnification Agreement?

What types of legal liabilities are covered by the agreement?

What expenses are covered by the agreement?

Are there any limitations to the indemnification coverage?

How long does the Queens Indemnification Agreement remain in effect?

More info

Trusted and secure by over 3 million people of the world’s leading companies