New York Indemnity Agreement between corporation and directors and / or officers
Description
How to fill out Indemnity Agreement Between Corporation And Directors And / Or Officers?
Are you currently in a place the place you need papers for both business or personal reasons almost every working day? There are plenty of lawful record themes accessible on the Internet, but finding types you can depend on is not straightforward. US Legal Forms delivers 1000s of form themes, like the New York Indemnity Agreement between corporation and directors and / or officers, that happen to be published in order to meet state and federal demands.
Should you be currently acquainted with US Legal Forms site and get a free account, basically log in. Next, you may download the New York Indemnity Agreement between corporation and directors and / or officers format.
Unless you offer an account and need to begin using US Legal Forms, abide by these steps:
- Obtain the form you will need and make sure it is for the proper city/county.
- Utilize the Review option to analyze the shape.
- Read the description to ensure that you have selected the correct form.
- In the event the form is not what you`re trying to find, use the Research industry to find the form that meets your needs and demands.
- Once you get the proper form, simply click Acquire now.
- Select the costs program you desire, submit the necessary information and facts to create your account, and pay for an order using your PayPal or charge card.
- Pick a practical paper formatting and download your version.
Find every one of the record themes you may have purchased in the My Forms food list. You can get a more version of New York Indemnity Agreement between corporation and directors and / or officers anytime, if necessary. Just click on the necessary form to download or print the record format.
Use US Legal Forms, probably the most substantial collection of lawful types, in order to save some time and avoid mistakes. The support delivers expertly manufactured lawful record themes which you can use for a variety of reasons. Make a free account on US Legal Forms and begin producing your lifestyle a little easier.
Form popularity
FAQ
The indemnity may cover liability incurred by the director to any person other than the company or an associated company. This may include both legal costs and the financial costs of an adverse judgement.
In the indemnification agreement, the corporation agrees to reimburse the director or officer for losses incurred in legal proceedings related to their service as a corporate director or officer to the maximum extent permitted by law.
Indemnification is protection against loss or damage. When a contract is breached, the parties look to its indemnity clause to determine the compensation due to the aggrieved party by the nonperformer. The point is to restore the damaged party to where they would have been if not for the nonperformance.
Aside from difficulties associated with the clarity of meaning and operation of such clauses, two common problems encountered are: the party giving the indemnity does not have the financial capacity to fund the loss; or. the party giving the indemnity is exposed to an uninsured liability.
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.
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 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.
New York's General Obligations Law §5-322.1 prohibits enforcement of an indemnification agreement for damage arising ?out of bodily injuries to persons or damage to property contributed to, caused by, or resulting from the negligence of the promisee, his agents or employees, or indemnitee, whether such negligence be in ...