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Indemnification Agreement between corporation and its directors...

Palm Beach Florida Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met

Name: Palm Beach Florida 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:

Palm Beach

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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How to fill out Palm Beach Florida Indemnification Agreement Between Corporation And Its Directors Regarding Method For Determining Whether Standards For Indemnification Have Been Met?

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FAQ

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 Alberta corporation is not permitted to indemnify its directors for their actions if they have not acted honestly and in good faith with a view to the best interests of the corporation that is, if they have breached their fiduciary duty to the corporation.

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.

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.

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).

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.

Maric Law Office A company can usually indemnify a director for his/her defense costs and/or damages, judgments and settlements if he/she was the only one responsible for the procedure and was found guilty. In such case the usual conditions would apply as to proof of the amount of damage, defense costs etc.

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.

There are two possible options: giving directors an exemption from any liability to the company and an indemnity against liability to third parties; taking out and paying for insurance against any liability incurred by the directors.

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A. Accessory Uses and Structures. 1. General. The following provisions in this Section shall apply to all development in Standard, PDD, or TDD Zoning.Indemnity agreements are found in almost all aviation contracts – aircraft leasing and use agreements, airport-airline agreements, airline-vendor agreements,. NORESCO has thoroughly reviewed and will comply with the policies, procedures and rules as outlined in the AEPC Program Rules Manual. As part of the interlocal agreement, Green Corridor agreed to indemnify. Palm Beach County from any liability related to the PACE program.

Palm Beach Florida Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met

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Do directors have the right to indemnification?

Should a company indemnify its directors?

What is indemnification for board of directors?

How does a company indemnify its directors?

What is a corporate indemnification agreement?

What is indemnification agreement for directors and officers?

When can a company indemnify its directors?

What is a director indemnification agreement?

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What is a Palm Beach Indemnification Agreement?

Why would a corporation and its directors need an indemnification agreement?

What are the standards that need to be met for indemnification under the Palm Beach Indemnification Agreement?

How is it determined whether the standards for indemnification have been met?

What happens if a director meets the standards for indemnification?

Can a director be indemnified for intentional wrongdoing under the Palm Beach Indemnification Agreement?

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