What is the purpose of an indemnity clause in a contract?

An indemnification clause may allow: The indemnified party to recover certain types of losses, such as attorney's fees, which are not typically recoverable under a common law cause of action. The indemnifying party to reduce its liability by incorporating: Liability cap.

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Indemnity Agreement between Centra Software...

Pima Arizona Indemnity Agreement between Centra Software, Inc. and officer of corporation

Name: Pima Arizona Indemnity Agreement between Centra Software, Inc. and officer of corporation
Brand: US Legal Forms
Rating: 4.88 (445 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Pima

Control #:

US-EG-9288

Format:

Instant download

Description

Indemnity Agreement between Centra Software, Inc. and ______- (offices) regarding services dated January, 2000. 9 pages.

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How to fill out Pima Arizona Indemnity Agreement Between Centra Software, Inc. And Officer Of Corporation?

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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.

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.

Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.

At their core, indemnification provisions transfer liabilities related to a claim from one party to another party, generally in the event of a breach of contract or a party's negligence or misconduct in the performance of the agreement.

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.

Most states hold that indemnity provisions are enforceable as written. These clauses will likely be construed in accordance with the rules of construction that apply to contracts generally. However, the freedom to contract will be limited by Courts who will disallow contracts in contravention of public policy.

An indemnification clause may allow: The indemnified party to recover certain types of losses, such as attorney's fees, which are not typically recoverable under a common law cause of action. The indemnifying party to reduce its liability by incorporating: Liability cap.

Court will not enforce an indemnification provision that indemnifies an indemnitee for its own negligence unless the intention of the parties is clearly and unambiguously expressed. Courts first look for specific language in the contract that address the fault or negligence of the indemnitee.

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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Vendors are required to fill out the Sample Items List. For CRS-2P and MC-800 Chip Seal Oils as outlined in the Request for.(NAU), along with Pima Community College (PCC) and any other educational institution or. Livelihood for significant numbers of people. The driver: The driver is a central component of road transport services, being the ambassador of his company. Description: The first insurance company with an online-only policy. Mr. Sebastian's professional experience has been in the construction industry, as a claims counsel for a major fidelity and surety company, a. With Ellison Mills Contracting, LLC, utilizing the Contract for Cooperative Use of Pima County,. The director and officer indemnification agreement provides additional protection from the directors and officers of a Delaware corporation. Vendors are required to fill out the Sample Items List.

For CRS-2P and MC-800 Chip Seal Oils as outlined in the Request for. (NAU), along with Lima Community College (PCC) and any other educational institution or. Livelihood for significant numbers of people. (6)The State of Arizona State Motor Vehicle Division Motor Vehicles Division, PO Box 175075 Phoenix, AZ 85 Phone: 602.937.2056 Fax: 602.937.2053 Email: infoazmotorvehicle.com E-mail: customerserviceazmotorvehicle.com Business Directory: If you are looking for specific insurance coverages for your business, please use our Arizona Business Directory. This directory has been carefully selected, and it contains a lot of coverage that isn't offered by an insurance carrier directly. What types of insurance are available to businesses? AZS MV provides coverage for business drivers in the following forms: (1) Basic liability insurance (BL) which covers damages caused by any person operating a business vehicle carrying a business client.

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Pima Arizona Indemnity Agreement between Centra Software, Inc. and officer of corporation

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