What is a standard indemnification clause?

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

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Articles of Incorporation with Indemnification

Suffolk New York Articles of Incorporation with Indemnification

Name: Suffolk New York Articles of Incorporation with Indemnification
Brand: US Legal Forms
Rating: 4.58 (400 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Suffolk

Control #:

US-CC-17-124C

Format:

Instant download

Description

This sample form, a detailed Articles of Incorporation, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.

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How to fill out Suffolk New York Articles Of Incorporation With Indemnification?

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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

"Each party agrees to indemnify, defend, and hold harmless the other party from and against any loss, cost, or damage of any kind (including reasonable outside attorneys' fees) to the extent arising out of its breach of this Agreement, and/or its negligence or willful misconduct."

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.

Example 1: Here is an example of a simple indemnity clause in a contract: "I hereby release, acquit and discharge company and its agents and employees from any liability arising from any circumstance including the negligence of company or its employees.

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

Party A shall indemnify, defend and hold harmless Party B against any and all loss arising out of, by reason of, in connection with or as a result of third-party claims in connection with intellectual property that is the subject matter of license under this agreement.

A director's or officer's right to indemnification and advancement of expenses is subject to the company's ability to pay, and several legal limitations. Bankruptcy Law Limits. Claims against directors and officers more frequently occur when the company is under financial distress that leads to bankruptcy.

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.

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.

That it is non-exclusive (i.e., that indemnification and advancement of expenses under provisions in the company's articles of incorporation and bylaws is also available).

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CIVIL ACTION commenced in the Superior Court Department on July 1, 2008. A business which is to be incorporated must file with the state.All User Contributions must comply with the Content Standards set out in these Terms of Use. Note: Please do not fill out the Agreement to Contract portion of this proposal. Health planningWhats Happening in the HSAS 100 Much Service 3 Health Planning .

What do we call it? I hope you like it. We have a list of health issues that have been occurring, getting worse; and how we are going to deal with them. We have also taken a look over the current plans. If you have a suggestion for improvement, we want the public to share that information and use whatever action planning tools they have at their disposal. The State of Alaska wants to be doing better for our people. That's why we have to do our part as well. The Health Plan (Plan No.1 – 2) was created to: a. Protect and improve Health in Alaska Today. b. Assess the State's Health Care Needs. If the plan is successful, it will: a. Assure that every Alaskan receives timely, effective care for their most serious health problem. b. Create a healthy Alaskan workforce. c. Allow every Alaskan to receive affordable health care through state-funded programs. We must have better health outcomes. Let's do our part: a. Educate the public about the issues. b.

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Suffolk New York Articles of Incorporation with Indemnification

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