This is a due diligence contract provision that a company will provide reimbursement for any losses that the director may incur in business transactions.
Guam Director Favorable Director Indemnification Agreement
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US-DD0603
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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, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.
Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.
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.
Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.
Further, even in the absence of a charter provision, a bylaw provision or an indemnification agreement providing Ds&Os with the right to indemnification, a corporation is required by statute to indemnify directors and certain senior officers for expenses actually and reasonably incurred in the defense of any action or
Indemnification is a legal agreement by one party to hold another party blameless not liable for potential losses or damages.
Under Section 145(c) of the Delaware General Corporation Law (DGCL), Delaware corporations are required, in certain circumstances, to indemnify directors and officers of the corporation for costs incurred in connection with litigation and other proceedings arising from the official's corporate role, including attorneys
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
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.
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Needed or is beneficial for government of Guam real property. ? A five year term limit for commercial Project Director; The person responsible for the. A substantial uptick in securities litigation and an increased regulatory enforcement focus have put directors and officers squarely in the ...However, in the absence of agreements, more detailed provisions in the bylaws are advisable. These provisions would cover matters like the ... In consideration of the parties entering into the agreements and carryingdirectly or indirectly controlling (including all directors and officers of ... Director Indemnification Agreement -- Form: Learn more about this contract and other key contractual terms and issues by viewing the many sample contracts ... Director of Costco Wholesale Corporation in April 1986.the Price Quest LLC Agreement (respectively, concerning "Indemnification" and. Anyone wishing to address the Board of Directors should complete aConsider Approval of City of Lewisville Trail Maintenance Agreement. Action Item. Disclosure of Commission Position on Indemnification ForOn April 19, the Company's Board of Directors approved agreements (the "Agreements") with its ... Merger Agreement was unanimously approved by the Board of Directors of each ofThe Registration Rights Agreement also provides that Schwab indemnify the ... APPENDIX 6: SBA ENVIRONMENTAL INDEMNIFICATION AGREEMENT .particular matter, an exception to policy may be approved by the Director of the Office of ...