Delaware Director's Services Agreement

State:
Multi-State
Control #:
US-KWP-0040
Format:
Word; 
Rich Text
Instant download

Description

This form is a Director's Services Agreement. The producer employs the director to perform services as a staff director for a television program. The agreement provides that the director will devote his/her best talents, efforts, and abilities in connection with services rendered. The director also agrees to attend all meetings, rehearsals, and reasonable program conferences as requested by the producer.
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FAQ

A Director's service agreement is a contract that sets out the terms that a company director works under. Directors are key people within a company and it is essential to make sure their contracts are clear about their rights and responsibilities.

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

An indemnity agreement is a contract that protect one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement.200c

Typically, board member contracts are written agreements setting forth the organization's expectations for board members. While they are not intended to serve as legally enforceable contracts, board member contracts or MOUs help to set clear expectations.

Number of Directors. A Delaware corporation need only have one director regardless of how many shareholders it has. Having one director can be convenient for firms with a controlling shareholder and certain other closely held entities.

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.

Indemnification. Indemnification is an undertaking by the company to defend the director and officer against the cost of certain claims, including legal fees, litigation awards and settlement costs.

The following are Delaware's requirements for directors of corporations: Minimum number. Corporations must have one or more directors.

If at any time, by reason of death or resignation or other cause, a corporation should have no directors in office, then any officer or any stockholder or an executor, administrator, trustee or guardian of a stockholder, or other fiduciary entrusted with like responsibility for the person or estate of a stockholder,

Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party.

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Delaware Director's Services Agreement