Delaware Indemnification Agreement by Witco Corporation

State:
Multi-State
Control #:
US-CC-17-187A
Format:
Word; 
Rich Text
Instant download

Description

This sample form, a detailed Indemnification Agreement, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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  • Preview Indemnification Agreement by Witco Corporation
  • Preview Indemnification Agreement by Witco Corporation
  • Preview Indemnification Agreement by Witco Corporation
  • Preview Indemnification Agreement by Witco Corporation
  • Preview Indemnification Agreement by Witco Corporation
  • Preview Indemnification Agreement by Witco Corporation
  • Preview Indemnification Agreement by Witco Corporation
  • Preview Indemnification Agreement by Witco Corporation
  • Preview Indemnification Agreement by Witco Corporation
  • Preview Indemnification Agreement by Witco Corporation
  • Preview Indemnification Agreement by Witco Corporation

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FAQ

Delaware law provides for a default three-year statute of limitations period for breaches of contract, generally applicable to claims for breaches of representation and warranties and related claims for indemnification concerning stock purchase agreements or assets sales.

§ 8106 (providing a three year limitations period for fiduciary duty and fraud actions); 6 Del.

(a) A corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the ...

FindLaw Newsletters Stay up-to-date with how the law affects your life Injury to PersonTwo years (Del C. Tit. 10 § 8119)ContractsWritten: Three years (Del C. Tit. 10 § 8106) Oral: Three years (Del C. Tit. 10 § 8106)Collection of Debt on AccountThree years (Del C. Tit. 10 § 8106)JudgmentsFive years (Del C. Tit. 10 § 5072)6 more rows

Civ. Pro. Code § 877.5. A contribution claim is subject to a 2-year statute of limitations.

Section 145 of the Delaware General Corporation Law (DGCL) allows corporations to protect present and former directors and officers from expenses incurred in connection with proceedings arising from actions taken in service to the company or at the company's direction.

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.

Delaware has a three-year statute of limitations for most contract claims pursuant to 10 Del. C. section 8106. For wage claims, generally a one-year statute of limitation applies under 10 Del.

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Delaware Indemnification Agreement by Witco Corporation