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.

US Legal Forms
Localized Forms
Maryland
Montgomery
Indemnification Agreement between corporation and its current and...

Montgomery Maryland Indemnification Agreement between corporation and its current and future directors

Name: Montgomery Maryland 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:

Montgomery

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

View Colorado Springs

View this form

View Cincinnati

View this form

Letter from Tenant to Landlord for Failure...

View this form

Option to Sell Real Property if Option Exe...

View this form

Sample Letter from Wedding Planner or Cons...

View this form

Drug and Alcohol Policy Acknowledgment

View this form

How to fill out Montgomery Maryland Indemnification Agreement Between Corporation And Its Current And Future Directors?

Drafting paperwork for the business or individual demands is always a big responsibility. When creating a contract, a public service request, or a power of attorney, it's important to take into account all federal and state laws of the specific area. Nevertheless, small counties and even cities also have legislative provisions that you need to consider. All these aspects make it tense and time-consuming to create Montgomery Indemnification Agreement between corporation and its current and future directors without professional assistance.

It's possible to avoid wasting money on attorneys drafting your documentation and create a legally valid Montgomery Indemnification Agreement between corporation and its current and future directors on your own, using the US Legal Forms web library. It is the biggest online catalog of state-specific legal documents that are professionally verified, so you can be certain of their validity when selecting a sample for your county. Previously subscribed users only need to log in to their accounts to download the necessary document.

In case you still don't have a subscription, adhere to the step-by-step guideline below to get the Montgomery Indemnification Agreement between corporation and its current and future directors:

Look through the page you've opened and check if it has the sample you require.
To do so, use the form description and preview if these options are available.
To locate the one that fits your needs, utilize the search tab in the page header.
Double-check that the template complies with juridical standards and click Buy Now.
Choose the subscription plan, then log in or register for an account with the US Legal Forms.
Utilize your credit card or PayPal account to pay for your subscription.
Download the selected document in the preferred format, print it, or fill it out electronically.

The exceptional thing about the US Legal Forms library is that all the documentation you've ever acquired never gets lost - you can get it in your profile within the My Forms tab at any time. Join the platform and quickly obtain verified legal forms for any use case with just a few clicks!

Form Rating

4.6

Satisfied(240)

Form popularity

FAQ

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.

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).

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 under Companies Act, 2013: While Section 201 of the erstwhile Companies Act, 1956 had restricted a company from indemnifying the directors of the company, the Companies Act, 2013 does not have any such restriction and therefore, directors can now be indemnified by companies against liabilities.

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

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.

Any UK company can now indemnify any of its directors, and any director of a company in the same group, against damages, costs and interest awarded against him in civil proceedings brought by a third party, and against legal and other costs incurred in defending both civil and criminal proceedings if and when the

Subject to the exceptions mentioned below, the Companies Law prohibits a company and its subsidiaries from exempting any director from, or indemnifying any director against, any liability incurred by the director as a result of the director acting as a director of the company.

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.

More info

In a customer-based SLA, the customer and service provider come to a negotiated agreement on the services that will be provided. Dispose of the Fund's shares, other than those described in the Fund's current prospectus and elsewhere in this.Statement of Additional Information. Fiduciary Duties of Corporate Directors, Officers, and Shareholders . Developer to complete construction of an adjacent Building(s). 1. 87 "Park Improvements" shall have the meaning set forth in the Parkland Agreement. This revision to the FHA Single Family Housing Policy Handbook, or Handbook 4000.

Montgomery Maryland Indemnification Agreement between corporation and its current and future directors

Description

Related forms

Viewed forms

How to fill out Montgomery Maryland Indemnification Agreement Between Corporation And Its Current And Future Directors?

Show more info

Form Rating

Form popularity

FAQ

When can a company indemnify its directors?

What is the purpose of an indemnification agreement?

What is a corporate indemnification agreement?

What is a director indemnification agreement?

Can a company indemnify its directors?

What is indemnification agreement?

Are directors indemnified?

Can a UK company indemnify its directors?

Can a director indemnify another director?

What is indemnification agreement for directors and officers?

More info

Trusted and secure by over 3 million people of the world’s leading companies