17-103F 17-103F . . . Indemnification Agreement with corporation's directors and two of its officers and to authorize corporation to enter into similar indemnification agreements with its future directors and nominees for director and with certain present and future officers. The stated reason for this proposal is because management believes that existing indemnification protection provided by Florida Business Corporation Act is inadequate in certain respects
Colorado Form Indemnification Agreement by Holiday RV Superstores
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State:
Multi-State
Control #:
US-CC-17-103F
Format:
Word;
Rich Text
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How to fill out Form Indemnification Agreement By Holiday RV Superstores?
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FAQ
An indemnity agreement is a contract that protects one party of a transaction from the risks or liabilities created by the other party of the transaction.
One of the most common examples of a claim scenario where Broad Form Indemnity could come into play is when injured employees sue an employer to get an additional pay out beyond workers' compensation benefits.
In an indemnity agreement, one party will agree to offer financial compensation for any potential losses or damages caused by another party, and to take on legal liability for whatever damages were incurred. The most common example of indemnity in the financial sense is an insurance contract.
You can usually identify broad form indemnity by the language ?in whole or in part? or ?sole negligence.? Under our hypothetical, if the general contractor (the indemnitor) agreed to broad form indemnification, even if the jury found the owner's negligence was the sole cause of the employee's injuries, the general ...
Example of Indemnity in Business If the building sustains significant structural damages from fire, then the insurance company will indemnify the owner for the costs to repair by way of reimbursing the owner or by reconstructing the damaged areas using its own authorized contractors.
Indemnification Agreement to secure against loss or damage; to give security for the reimbursement of a person in case of an anticipated loss falling upon him. Also to make good; to compensate; to make reimbursement to one of a loss already incurred by him.
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.
What Are the Types of Indemnity Clauses? Bare Indemnity. Here, the supplier must compensate the affected party to cover losses caused by circumstances predefined in the contract. ... Third-party Indemnity. A third-party indemnity applies to third-party claims made against one of the parties. ... Inter-party Indemnity.