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
Ohio 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
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.
A typical example is an insurance company wherein the insurer or indemnitor agrees to compensate the insured or indemnitee for any damages or losses he/she may incur during a period of time.
In the agreement, the company agrees to reimburse the director or officer for losses incurred in legal proceedings related to their service as a director or officer and to advance funds to the director or officer to pay expenses as they are incurred.
Meaning of indemnification in English the act of paying or promising to pay someone an amount of money if they suffer damage or loss: They asked for some form of indemnification in case the proposed deal was blocked. The government has allocated large sums for the indemnification of farmers whose crops are destroyed.
It is primarily intended to protect the person who is providing goods or services from being held legally liable for the consequences of actions taken or not taken in providing that service to the person who signs the form. Indemnity clauses vary widely.
What is indemnification? 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.