Indemnification Agreement Form For Directors
Description
How to fill out Indemnification Agreement Between Corporation And Its Directors And Non-Director Officers At Vice President Level And Above?
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FAQ
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
Indemnification.acted in good faith.acted in a manner reasonably believed to be in or not opposed to the best interests of the corporation, and,had no reasonable cause to believe that his or her conduct was unlawful, in the case of a criminal action or proceeding.
If not supplied in the governing documents (or in addition to such provisions), directors and officers may also secure indemnification rights through contract. For LLCs and other alternative entities, the discretion to provide or withhold indemnification is even broader.
Further, in light of the recent amendments to Section 145, only certain officers are entitled to mandatory indemnification of expenses as a matter of law when they are successful on the merits; an indemnification agreement allows a director or officer to secure such rights in the absence of express statutory coverage.
Company/Business/Individual Name shall fully indemnify, hold harmless and defend and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not
