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...

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

Name: Travis Texas 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:

Travis

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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FAQ

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.

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.

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

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.

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).

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.

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Each of the above individuals is currently serving as a director of the Company. Bird is expanding its Fleet Manager network.Robert Gaines, Vice President for Academic Affairs and Dean of the College. Ext.

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

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FAQ

What is the purpose of an indemnification agreement?

What are the types of indemnification agreements?

What is an indemnification agreement?

What are types of indemnity?

What is a corporate indemnification agreement?

What is indemnification agreement?

What is a director indemnification agreement?

What are indemnification agreements?

What is indemnification agreement for directors and officers?

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What is the purpose of a Travis Indemnification Agreement?

Who can enter into a Travis Indemnification Agreement?

What types of legal expenses are covered by a Travis Indemnification Agreement?

Are there any limitations to the indemnification coverage provided by a Travis Indemnification Agreement?

Can an individual be indemnified for intentional misconduct or gross negligence?

Is a Travis Indemnification Agreement renewable?

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