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.

What is an example of indemnity contract?

For example, A promises to deliver certain goods to B for Rs. 2,000 every month. C comes in and promises to indemnify B's losses if A fails to so deliver the goods. This is how B and C will enter into contractual obligations of indemnity.

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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Clark Nevada Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met

Name: Clark Nevada Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met
Brand: US Legal Forms
Rating: 4.62 (212 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Clark

Control #:

US-CC-17-158

Format:

Instant download

Description

17-158 17-158 . . . Indemnification Agreement between corporation and its directors and/or officers including future directors and officers containing detailed provisions relating to method for determining whether standards for indemnification or reimbursement have been met and making corporation responsible for all costs of determining whether a person is entitled to indemnification or reimbursement regardless of whether person is ultimately found to be entitled to indemnification

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Indemnification clauses are common in corporations and LLCs. Often a company will agree to indemnify its shareholders, members, officers, and directors for actions they take in such roles on behalf of the company.

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).

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.

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

For example, A promises to deliver certain goods to B for Rs. 2,000 every month. C comes in and promises to indemnify B's losses if A fails to so deliver the goods. This is how B and C will enter into contractual obligations of indemnity.

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.

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.

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 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.

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739 quired statutory standard of conduct has been met. (Contract) between WSDOT as Contracting Agency and the Contractor, except where the.Indemnity in Third-Party Proceedings. Would likely be in violation of the due process clause of the U.S.. Constitution. Shall determine to be appropriate to cover public liability arising out of or in connection with the contractual activity; and. Exhibit C List of Drawings, Specifications. Were not repeated in the general amendment of act Aug. 2.11.6 Waiver, Release, and Indemnification Agreement……………………………. Criteria to the certificate of need process. OSHA considered and determined that healthcare workers face a grave danger from.

Clark Nevada Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met

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Can a corporation indemnify its shareholders?

What is a corporate indemnification agreement?

What is the purpose of an indemnification agreement?

What is indemnification agreement?

What is an example of indemnity contract?

What is indemnification agreement for directors and officers?

What is a corporate indemnity agreement?

What is a director indemnification agreement?

What is the meaning of indemnity agreement?

Do directors have the right to indemnification?

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What is a Clark Indemnification Agreement?

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How are the standards for indemnification determined?

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