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.

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San Diego California Indemnity Agreement between corporation and directors officers employees and agents of corporation

Name: San Diego California Indemnity Agreement between corporation and directors officers employees and agents of corporation
Brand: US Legal Forms
Rating: 4.67 (328 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

San Diego

Control #:

US-CC-17-146

Format:

Instant download

Description

This sample form, a detailed Indemnity Agreement, 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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FAQ

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.

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.

Companies may indemnify directors against the legal and financial costs of proceedings brought by third parties. This does not extend to the legal costs of unsuccessful defence of criminal proceedings, fines imposed by criminal proceedings and fines imposed by regulatory bodies.

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.

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 '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.

Key Takeaways. Indemnity is a comprehensive form of insurance compensation for damages or loss. In this type of arrangement, one party agrees to pay for potential losses or damages caused by another party.

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

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Fiduciary Duties of Corporate Directors, Officers, and Shareholders . Insurance premiums for certain liabilities of director, secretary, other officer or auditor 199C.Vo ng stock or interest in a company or control of the composi on of the board of directors. San Diego, a municipal corporation (City), and Blair Search Partners, LLC (Consultant). Technology transactions and general corporate law. FIRST MODIFICATION AGREEMENT DATE: May 16, 2000 PARTIES: Borrower: MHC: MONTEREY HOMES CONSTRUCTION, INC. Contract customer: General Dynamics jobs were 'seasonal'. I am in Canterbury Mobile Home Park. Must also fill out and sign an application and pay a 25.

00). The contract does not include the option to buy and the options period starts now. However, I did mention to Mr. Baudelaire in the interview that I want to buy the property. This would create an automatic 30.00 termination fee for not buying. I understand that in some of the contracts they give you an option not to buy. However, I didn't discuss this on paper with Mr. Baudelaire. I am now getting a lot of interest from all who have seen my ad. Thanks for being prompt and helpful J.M. (age 37) I hope the ad has answered your question. I am not sure what type of business you have but just so you can get a sense of where I am coming from, I am looking to purchase a mobile Home park, and want to do it in a manner that will insure to be successful and in business on the long run. I am not interested in the typical investment of real estate but just want to do it legally to avoid the type of tax problems so common in many rural and suburban areas of the nation.

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San Diego California Indemnity Agreement between corporation and directors officers employees and agents of corporation

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