Indemnification Clause For Board Of Directors
Description
How to fill out Indemnification Agreement For A Trust?
The Indemnification Clause For Board Of Directors you see on this page is a reusable formal template drafted by professional lawyers in accordance with federal and state regulations. For more than 25 years, US Legal Forms has provided individuals, companies, and legal professionals with more than 85,000 verified, state-specific forms for any business and personal occasion. It’s the fastest, easiest and most trustworthy way to obtain the documents you need, as the service guarantees bank-level data security and anti-malware protection.
Obtaining this Indemnification Clause For Board Of Directors will take you only a few simple steps:
- Look for the document you need and review it. Look through the sample you searched and preview it or review the form description to ensure it satisfies your requirements. If it does not, make use of the search bar to get the correct one. Click Buy Now once you have located the template you need.
- Subscribe and log in. Select the pricing plan that suits you and register for an account. Use PayPal or a credit card to make a quick payment. If you already have an account, log in and check your subscription to proceed.
- Acquire the fillable template. Choose the format you want for your Indemnification Clause For Board Of Directors (PDF, DOCX, RTF) and save the sample on your device.
- Complete and sign the paperwork. Print out the template to complete it by hand. Alternatively, utilize an online multi-functional PDF editor to quickly and precisely fill out and sign your form with a valid.
- Download your papers one more time. Utilize the same document once again anytime needed. Open the My Forms tab in your profile to redownload any previously purchased forms.
Sign up for US Legal Forms to have verified legal templates for all of life’s situations at your disposal.
Form popularity
FAQ
An indemnification clause should clearly define the following elements: who are the indemnifying party and the indemnified party, what are the covered claims or losses, what are the obligations and duties of each party, and what are the exclusions or limitations of the indemnity.
These provisions generally require the portfolio company to expressly acknowledge that the director has rights of indemnification, advancement, and insurance from the sponsor; to agree that it is the indemnitor of first resort and that it is obligated to advance all expenses and indemnify for all judgments, penalties, ...
How to Write an Indemnity Agreement Consider the Indemnity Laws in Your Area. ... Draft the Indemnification Clause. ... Outline the Indemnification Period and Scope of Coverage. ... State the Indemnification Exceptions. ... Specify How the Indemnitee Notifies the Indemnitor About Claims. ... Write the Settlement and Consent Clause.
Indemnification refers to the right to have a company reimburse current or former directors or officers for all losses, including legal fees, incurred in connection with litigation arising from actions taken in service to the company or at the company's direction.
Every bond provider writes their own indemnity agreement. The language and details will vary, but most of these agreements will include the following sections: Indemnity Provision ? This important provision transfers risk from the surety to the principal.
