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.

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

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

Name: Suffolk 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:

Suffolk

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

Nonexclusive International Sales Represent...

View this form

Checklist of Member Managed Limited Liabil...

View this form

Employee Evaluation Form for Soldier

View this form

Acknowledgment of Delivery of Goods Pursua...

View this form

Private Investigator Agreement - Self-Empl...

View this form

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

Laws and regulations in every area vary from state to state. If you're not a lawyer, it's easy to get lost in countless norms when it comes to drafting legal paperwork. To avoid pricey legal assistance when preparing the Suffolk Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above, you need a verified template legitimate for your county. That's when using the US Legal Forms platform is so beneficial.

US Legal Forms is a trusted by millions web collection of more than 85,000 state-specific legal templates. It's a perfect solution for specialists and individuals looking for do-it-yourself templates for different life and business occasions. All the documents can be used multiple times: once you pick a sample, it remains available in your profile for future use. Thus, if you have an account with a valid subscription, you can just log in and re-download the Suffolk Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above from the My Forms tab.

For new users, it's necessary to make a few more steps to obtain the Suffolk Indemnification Agreement between Corporation and Its Directors and Non-Director Officers at Vice President Level and Above:

Examine the page content to ensure you found the correct sample.
Use the Preview option or read the form description if available.
Look for another doc if there are inconsistencies with any of your criteria.
Click on the Buy Now button to obtain the document once you find the proper one.
Opt for one of the subscription plans and log in or sign up for an account.
Decide how you prefer to pay for your subscription (with a credit card or PayPal).
Pick the format you want to save the document in and click Download.
Fill out and sign the document on paper after printing it or do it all electronically.

That's the easiest and most cost-effective way to get up-to-date templates for any legal scenarios. Find them all in clicks and keep your paperwork in order with the US Legal Forms!

Form Rating

4.79

Satisfied(235)

Form popularity

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.

The most important part of an indemnification clause is that it protects the indemnified party from lawsuits filed by third parties. This protection is important because damaged parties are still able to pursue compensation for their losses even if this clause isn't in the contract.

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.

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.

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).

The rule of indemnity, or the indemnity principle, says that an insurance policy should not confer a benefit that is greater in value than the loss suffered by the insured. Indemnities and insurance both guard against financial losses and aim to restore a party to the financial status held before an event occurred.

Indemnification is where the company reimburses the director or officer for the attorneys' fees and costs, and potentially judgments, incurred in connection with claims arising out of the director's or officer's service to the company.

Owners of corporations and limited liability companies can have statutory and contractual obligations to indemnify officers, directors, managers, and members for legal fees incurred in defending litigation.

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

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.

More info

We have entered into indemnification agreements with each of our directors and our executive officers. IRobot provides robots that enable people to complete complex tasks in a better way.A "non-exclusivity" statute empowers the corporation to use charter provisions or contracts to provide its officers and directors with additional. A. After a competitive procurement process, NASPO ValuePoint ("NASPO") through its lead state, the State of Arizona (the "State"), entered into Contract No.

Suffolk 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 Suffolk 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 is a director indemnification agreement?

Do I need an indemnification clause?

What is indemnification agreement for directors and officers?

Do directors have the right to indemnification?

What is a corporate indemnification agreement?

What is the rule of indemnification?

Are directors indemnified?

What is mandatory indemnification?

Does Dgcl require indemnification?

What is a corporate indemnity agreement?

More info

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