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
Maine Form Indemnification Agreement by Holiday RV Superstores
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Multi-State
Control #:
US-CC-17-103F
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Word;
Rich Text
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How to fill out Form Indemnification Agreement By Holiday RV Superstores?
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FAQ
Indemnity is a comprehensive form of insurance compensation for damage or loss. It amounts to a contractual agreement between two parties in which one party agrees to pay for potential losses or damage caused by another party.
In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.
Example 1: A service provider asking their customer to indemnify them to protect against misuse of their work product. Example 2: A rental car company, as the rightful owner of the car, having their customer indemnify them from any damage caused by the customer during the course of the retnal.
Indemnification clauses are generally enforceable, but there are important qualifications. Some courts hold that broad form or ?no fault? indemnifications, which are blind to fault on the part of either party, violate public policy.
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.
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.
An indemnification clause is a legally binding agreement between two parties specifying that one party (the indemnifying party) will compensate the other party (the indemnified party) for any losses or damages that may arise from a particular event or circumstance.
Indemnity Agreement: Although similar to a hold harmless agreement, an indemnity agreement is an arrangement whereby one party agrees to pay the other party for any damages regardless of who is at fault.