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 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.

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Indemnification Agreement for a Delaware Corporation

Sacramento California Indemnification Agreement for a Delaware Corporation

Name: Sacramento California Indemnification Agreement for a Delaware Corporation
Brand: US Legal Forms
Rating: 4.73 (250 reviews)

Category:

Corporations - Startup - Initial Decision on Choice of Entity

State:

Multi-State

County:

Sacramento

Control #:

US-S0111AM

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Description

This form is a model miscellaneous corporate startup form. Use for a special purpose as indicated in the form. Don't reinvent the wheel, save time and money.

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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.

There are three levels of indemnification broad, intermediate and limited form: Broad Form Indemnity.Intermediate Form Indemnity.Limited Form Indemnity.Validity of Indemnity Provisions.State-by-State Case.Operations in Multiple States.Insurance Considerations.

Definition: Indemnity means making compensation payments to one party by the other for the loss occurred. Description: Indemnity is based on a mutual contract between two parties (one insured and the other insurer) where one promises the other to compensate for the loss against payment of premiums.

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.

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

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.

Why do I need an indemnity clause? Indemnity clauses are used to manage the risks associated with a contract, because they enable one party to be protected against the liability arising from the actions of another party.

By statute, Delaware has established a minimum standard of conduct that, if met by a director or officer, permits a corporation to indemnify such director or officer pursuant to a charter or bylaw provision, an indemnification agreement with such D&O, or a resolution of the board or stockholders.

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We were incorporated in January 2010 as a Delaware corporation.

Sacramento California Indemnification Agreement for a Delaware Corporation

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What is a corporate indemnity agreement?

What are the types of indemnification agreements?

What is the meaning of indemnity in business?

What is an example of indemnity contract?

Do indemnity clauses hold up in court?

What is the meaning of indemnity agreement?

Are indemnification agreements enforceable?

Is indemnification a breach of contract?

Why indemnity is required?

Can officers and directors be indemnified by a corporation formed in the state of Delaware?

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