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.

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 current and...

Middlesex Massachusetts Indemnification Agreement between corporation and its current and future directors

Name: Middlesex Massachusetts Indemnification Agreement between corporation and its current and future directors
Brand: US Legal Forms
Rating: 4.6 (240 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Middlesex

Control #:

US-CC-17-197C

Format:

Instant download

Description

17-197C 17-197C . . . Indemnification Agreement to be entered into between corporation and its current and future directors and such current and future officers and other agents as directors may designate. The proposal includes description of procedural and substantive matters in Indemnification Agreements that are not addressed, or are addressed in less detail, in California law

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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.

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.

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.

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.

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

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 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).

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.

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For example, in the year ended December 31, 2004, 35. Our goal is to provide these partners with the technology to secure all-solid-state battery cells for their future battery powered electric vehicles.LAW to enter into an agreement with the Western University Students'. Council, the developer and organizer of the Choose Your Own Adventure, early. Complete financial statements.

Middlesex Massachusetts Indemnification Agreement between corporation and its current and future directors

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Do directors have the right to indemnification?

What is a corporate indemnity agreement?

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What is a director indemnification agreement?

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What is indemnification agreement?

What is the purpose of an indemnification agreement?

What is a corporate indemnification agreement?

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What is a Middlesex Indemnification Agreement?

Why would a corporation use a Middlesex Indemnification Agreement?

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Can a corporation refuse to provide indemnification to its directors?

Are there any limitations to the indemnification coverage?

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