17-197C 17-197C . . . Indemnification Agreement to be entered into between corporation and its current and future directors and such current and future officers and other agents as directors may designate. The proposal includes description of procedural and substantive matters in Indemnification Agreements that are not addressed, or are addressed in less detail, in California law
Minnesota Indemnification Agreement between corporation and its current and future directors
Category:
State:
Multi-State
Control #:
US-CC-17-197C
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Indemnification Agreement Between Corporation And Its Current And Future Directors?
If you need to comprehensive, acquire, or print lawful papers layouts, use US Legal Forms, the most important variety of lawful forms, which can be found on the web. Use the site`s simple and practical lookup to find the documents you require. Different layouts for organization and person functions are sorted by classes and states, or search phrases. Use US Legal Forms to find the Minnesota Indemnification Agreement between corporation and its current and future directors within a couple of clicks.
When you are presently a US Legal Forms client, log in in your account and click on the Down load button to get the Minnesota Indemnification Agreement between corporation and its current and future directors. You can even entry forms you formerly saved within the My Forms tab of the account.
If you are using US Legal Forms initially, follow the instructions below:
- Step 1. Make sure you have chosen the shape for the proper metropolis/country.
- Step 2. Utilize the Preview solution to look through the form`s content. Don`t forget about to see the explanation.
- Step 3. When you are unhappy using the kind, utilize the Lookup industry near the top of the monitor to locate other variations of your lawful kind format.
- Step 4. Once you have identified the shape you require, click the Acquire now button. Select the prices plan you choose and add your credentials to register for the account.
- Step 5. Approach the financial transaction. You can use your charge card or PayPal account to perform the financial transaction.
- Step 6. Pick the structure of your lawful kind and acquire it on your gadget.
- Step 7. Comprehensive, change and print or signal the Minnesota Indemnification Agreement between corporation and its current and future directors.
Each lawful papers format you acquire is the one you have permanently. You might have acces to every kind you saved within your acccount. Click the My Forms area and pick a kind to print or acquire once more.
Remain competitive and acquire, and print the Minnesota Indemnification Agreement between corporation and its current and future directors with US Legal Forms. There are millions of skilled and condition-distinct forms you can utilize for your organization or person needs.
Form popularity
FAQ
Indemnity insurance is one way to be protected against claims or lawsuits. This insurance protects the holder from paying the full amount of a settlement, even if it is his fault. Many businesses require indemnity for their directors and executives because lawsuits are common.
A director and officer indemnification agreement is a contract that allows executives to protect themselves from claims made against them while performing job. Indemnification means that in the event a lawsuit is filed against a company, the indemnified party is "held harmless" from claims.
Many company constitutions set out rights of indemnity for directors, and often also include provision for directors and officers (D&O) insurance. Alternatively, they may simply provide that the company may indemnify directors. The deed of indemnity is an agreement between the company and a director.
Indemnification clauses are contractual provisions that require one party (the ?Indemnitor?) to indemnify another party (the ?Indemnitee?) for losses that the Indemnitee may suffer. In prime contracts, the owner usually is the Indemnitee and the contractor is the Indemnitor.
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.
The indemnity clause is a risk-shifting provision that requires the contractor to defend, reimburse, and ?hold harmless? the owner and architect from claims and liability ?arising out of? the contractor's work.
Section 145(b) empowers a corporation to indemnify its directors against expenses incurred in connection with the defense or settlement of an action brought by or in the right of the corporation, subject to the standard of conduct determination, and except that no indemnification may be made as to any claim to which ...
A company may, however, lend money to a director to fund the director's defence costs. Frequently, an indemnity will include a provision under which the company agrees to lend the director the amounts necessary to fund the director's defence costs.
Indemnification refers to the right to have a company reimburse current or former directors or officers for all losses, including legal fees, incurred in connection with litigation arising from actions taken in service to the company or at the company's direction.
Typically, an insurance contract dictates that the insurer, also known as the indemnitor, agrees to compensate the other party involved (the insured or the indemnitee) for any damage or losses in return for premiums paid by the insured. University of Wisconsin System. "Hold Harmless and Indemnity Agreements."