Missouri Indemnity Agreement is a legal document that establishes the terms of indemnification between a corporation and its directors, officers, employees, and agents. It provides protection to these individuals in their roles and responsibilities on behalf of the corporation, safeguarding them against any potential liability or legal proceedings. This comprehensive agreement outlines the corporation's commitment to indemnify its directors, officers, employees, and agents against expenses, judgments, fines, penalties, and other liabilities incurred while performing their duties. By doing so, the agreement promotes the corporation's ability to attract qualified individuals to serve in these key positions without the fear of personal financial risk. The Missouri Indemnity Agreement typically covers various potential scenarios, including but not limited to: 1. Directors and Officers (D&O) Indemnification: This type of indemnity agreement specifically focuses on protection for directors and officers of the corporation. It ensures that they are not held personally liable for any claims, legal actions, or consequences arising from their actions or decisions made on behalf of the corporation. 2. Employees Indemnification: This category includes employees at all levels of the organization, extending indemnification to ensure they are protected against liabilities incurred during their work within the scope of their employment. The agreement reinforces the corporation's commitment to safeguarding its employees from adverse legal consequences. 3. Agents Indemnification: This aspect of the agreement covers agents or representatives acting on behalf of the corporation but who may not necessarily be directors, officers, or employees. It provides indemnification related to their authorized activities, protecting them from personal liability while acting within the scope of their agency relationship. The Missouri Indemnity Agreement typically contains provisions on the corporation's obligation to advance legal expenses, such as attorney's fees and court costs, to individuals covered under the agreement. It also establishes the procedures for indemnification claims and the conditions under which indemnification may be denied or limited. Keywords: Missouri Indemnity Agreement, corporation, directors, officers, employees, agents, indemnification, liability, legal proceedings, expenses, judgments, fines, penalties, personal financial risk, protection, D&O indemnification, employees indemnification, agents indemnification, legal actions, personal liability, authorized activities, advance legal expenses, attorney's fees, court costs, procedures, denied indemnification, limited indemnification.
Missouri Indemnity Agreement between corporation and directors officers employees and agents of corporation
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How to fill out Missouri Indemnity Agreement Between Corporation And Directors Officers Employees And Agents Of Corporation?
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FAQ
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.
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.
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 corporation created under the laws of this state may 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, ...
Insurance ? The indemnification agreement typically will require that the company provide D&O liability insurance that protects the indemnitee to the same extent as the most favorably insured of the company's and its affiliates' current directors and officers.
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, 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.