Connecticut Indemnification Agreement between a corporation and its current and future directors is a legal document that outlines the terms and conditions under which the corporation agrees to provide indemnification and hold harmless its directors for certain liabilities and expenses they may incur while serving in their role as directors. This agreement acts as a form of protection for directors, ensuring that they will not be personally held liable for certain actions taken on behalf of the corporation, as long as such actions were made in good faith and in the best interest of the corporation. It aims to give directors the confidence to make informed decisions without the fear of personal financial repercussions. Some relevant keywords in this context are: 1. Indemnification: Refers to the action of compensating or reimbursing someone for a loss or damage they have incurred. 2. Liability: The legal responsibility or obligation a person or entity has for their actions or omissions. 3. Expenses: Refers to costs or expenditures incurred by an individual or entity, such as legal fees or settlement payments. 4. Directors: Individuals who are appointed or elected to serve on the board of directors of a corporation. 5. Hold harmless: An agreement by which one party agrees not to hold the other party responsible for any future claims, damages, or losses. 6. Good faith: The state of honest and sincere intention or belief without any ulterior motives or fraud. In Connecticut, there are different types of Indemnification Agreements between corporations and their directors. Some of them include: 1. Standard Indemnification Agreement: This type of agreement provides a basic level of indemnification to directors, covering them for liabilities and expenses incurred in the course of their duties. It typically includes provisions for advancements of expenses and the preservation of indemnification rights. 2. Enhanced Indemnification Agreement: This type of agreement provides additional protection to directors beyond what is offered in a standard agreement. It may include broader indemnification provisions, expanded coverage for certain actions or decisions, and increased limits on indemnification amounts. 3. Indemnification Agreement with Limitations: As a means of balancing the corporation's interests, this type of agreement may include limitations on the extent of indemnification provided to directors. Some limitations may be placed on specific types of actions or decisions, or there may be a cap on the total amount that can be indemnified. It is important for corporations and directors to carefully review and understand the terms of the Indemnification Agreement to ensure that they are adequately protected and aware of any limitations or conditions that may apply. Consulting with legal professionals experienced in corporate law is recommended to ensure compliance with Connecticut-specific laws and regulations.
Connecticut Indemnification Agreement between corporation and its current and future directors
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Section 33-920. - Authority to transact business required. (a) A foreign corporation, other than an insurance, surety or indemnity company, may not transact business in this state until it obtains a certificate of authority from the Secretary of the State.
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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, ...
Indemnification is often very broad, often extending ?to the maximum extent permitted by law?, whereas D&O insurance polices contain numerous exclusions and conditions. In addition, D&O insurance must be renewed each year, with possible changes in terms and conditions.
Two forms of vitamin D are available in supplements: vitamin D3 and vitamin D2. Both can help correct vitamin D deficiency, but most doctors recommend D3 because it is slightly more active and therefore slightly more effective.
Vitamin D supplements are available as vitamin D2 (D2) and vitamin D3 (D3). Both versions can be used to treat vitamin D deficiency, but D3 seems to be more effective than D2. Vitamin D2 is still prescribed to people with low vitamin D levels, because it's more readily available in higher doses.
Connecticut nonstock corporations are required to indemnify directors, officers and agents under certain circumstances. "Indemnification" means that the organization must "pay back" the individual for damages and expenses relating to a claim that arises from conduct in the course of his/her duty for the organization.
Vitamin D3 is more effective in raising vitamin D levels in your bloodstream for a longer period than vitamin D2. On the other hand, vitamin D2 is sourced from plants, and vitamin D3 is derived from animals. If you prefer a plant-based product, vitamin D2 is a better choice for you.